Business
Tax: Dangote Cement Remits N412.9bn to Govt in 3 years
Tax: Dangote Cement Remits N412.9bn to Govt in 3 years
Dangote Cement Plc, a subsidiary of Dangote Industries Limited, (DIL), paid a total of N412.9 billion into the coffers of the Federal Government as tax for 3 consecutive years. A total of N97.24 billion was paid by Dangote Cement in 2020, N173.93 billion in 2021, and N141.69 billion in 2022.
This huge tax payment from only one of the conglomerate’s subsidiaries, re-affirms Aliko Dangote’s position that prompt and accurate tax payment is a duty for everyone who wishes to witness real growth and development. He posited that the government cannot offer social services to the citizens without tax collection.
Dangote also advised the government to automate the tax system in the county, while commending the inauguration of the Presidential Committee on Fiscal Policy and Tax Reforms.
“Maybe they should look at automating the tax system, just like what they did in India. If you go to India today, the country collects at least $1 trillion in various taxes. Petroleum products alone, India makes $100 billion yearly, because they charge 100 percent on petroleum products. So, what I am suggesting is that people should pay taxes and if you pay, you demand services from the government. I think it is a social contract.
“Once people start seeing that government is using the money to do infrastructure, fund education, healthcare, whereby the citizens don’t need to go out to India or other countries for medical attention, then people would settle down and start paying taxes,” the renowned entrepreneur added.
Meanwhile, other listed companies of Dangote Industries Ltd also paid considerable taxes to the Federal Government during the said period. Both Dangote Sugar Refinery Plc and NASCON Allied Industries Plc are listed on the Nigeria Exchange Limited.
Analysis of the annual reports of Dangote’s three listed companies indicated that they paid N114.31 billion as tax in 2020; N187.17 billion in 2021 and N172.15 billion in 2022.
During the three years, Dangote Cement paid a total of N412.86 billion as taxes, Dangote Sugar Refinery paid N55.38 billion, while NASCON Allied Industries paid N5.39 billion.
A total of N97.24 billion was paid by Dangote Cement in 2020, N173.93 billion in 2021, and N141.69 billion in 2022. Dangote Sugar Refinery paid N15.85 billion in 2020, N11.97 billion in 2021, and N27.56 billion in 2022. For NASCON Allied Industries, it was N1.22 billion in 2020, N1.27 billion in 2021, and N2.9 billion in 2022.
The analysis indicated that companies from the Dangote Group had remained major contributors to the nation’s economy with the volume of taxes paid in the period under review. The group has given Nigeria hope of earning income through economic diversification, implying that the nation can wean herself from dependence on the export of crude oil as the major source of government income.
Dangote Industries Limited is a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, beverages, and real estate, with new multibillion-dollar projects underway in the oil and gas, petrochemical, fertilizer, and agricultural sectors.
Dangote Cement Plc is Sub-Saharan Africa’s largest cement producer with an installed capacity of 51.6Mta capacity across 10 African countries. The company operates a fully integrated ‘quarry-to-customer’ business with activities covering manufacturing, sales, and distribution of cement. It has a production capacity of 35.3Mta in its home market, Nigeria.
The Obajana plant in Kogi State, Nigeria, is the largest in Africa with 16.3Mta of capacity across four lines; the Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta, the Gboko plant in Benue state has 4Mta, while Okpella plant in Edo State has 3Mta.
Dangote Cement Plc has a long-term credit rating of AAA by GCR, AA by Fitch and Aa2.ng by Moody’s due to its market-leading position, significant operational scale, and strong financial profile evidenced by the company’s robust operating and net profit margins relative to regional and global peers, adequate working capital, good cash flow, and low leverage.
The excellent credit ratings are due to its leading market position, significant operational scale, strong financial performance profile demonstrated by its robust financial profile relative to regional and global peers, adequate working capital, strong cash generation, and low leverage.
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news
Lagos Speaker, Turkish Airlines, International Stars Grace The Expatriates Business Awards (TEBA) 2025
Lagos Speaker, Turkish Airlines, International Stars Grace The Expatriates Business Awards (TEBA) 2025
The Honourable Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, Lokman Balkan, Turkish Airlines’ topshot, actresses Lilian Bach, Ronya Man, and Ghanaian-born broadcaster extraordinaire, Riyah Abdul, among others, are part of the high-flying guests and award recipients at the just-concluded The Expatriates Business Awards (TEBA) 2025.
The unique event, which was held at the prestigious Oriental Hotel, Lekki, Lagos, on Sunday, July 6th, 2025, celebrated Nigeria’s multicultural economic ecosystem. The colourful gathering was attended by industry notables including the Honourable Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, who was the event’s Chief.
The black-tie affair welcomed an elite audience of diplomats, corporate leaders, international investors, global citizens, and distinguished professionals whose presence reinforced the deepening bond between Nigeria and the international business community.
Anchored by the dynamic duo of Egypt-born media advisor Rania Elewa, who also went home with the award of Diaspora Trailblazer, and Cameroonian music-comedy sensation Danny Green, popularly known as 237 TownCryer, the night was a celebration of global entrepreneurship, cultural synergy, and social impact.
Unlike conventional award platforms which primarily honour local players, TEBA is a trademarked celebration of Nigeria’s diverse economic tapestry, recognizing the contributions of ethnic enterprises and migrant professionals who are actively shaping Nigeria’s GDP and socioeconomic advancement.
The event featured captivating exhibitions, cultural showcases, music, and comedy, creating a glamorous yet soulful atmosphere of unity and recognition.
Among the night’s highlights was the presentation of coveted awards to exceptional individuals and companies whose impact spans various sectors, including aviation, media, entrepreneurship, and entertainment. Notable honourees include: Turkish Airlines, an international airline which won Expatriate Airline of the Year 2024/25, Lilian Bach, the top actress, who won the Diaspora Distinction Award.
Also, Ghanaian born broadcaster extraordinaire, Riyah Abdul was TEBA’s Diaspora Revelation of the Year 2024/25, Ronya Man, a quiet but talented woman was the Cross Over Actress of The Year 2024/25, Avsatel Communications Ltd., an aviation company owned by Austra born Georg Eder MBA won Aviation Safety Champion of the Year 2024/25.
Others are MACE Industries Ltd., a notable aviation technology company owned by Mr. Manoj Tagjiani, which is the Aviation Technology Company of the Year 2024/25, while Cameroon-born Danny Green (237 TownCryer) went home with the Cross-Border Talent of the Year 2024/25.
On the list of the awardees is a talented entrepreneur, Pascale Olumayowa Rafqa who won the Expatriate Entrepreneur of the Year 2024/25, Mrs. Alice Adetona (Oyinbo Olonje), a Polish-born self-made chef was announced as Inter-Cultural Culinary Ambassador for her passion for Nigeria’s culture and culinary skills while Gambia beautician, Zainab Fatty was TEBA’s 2024/25 Serial Entrepreneur of the Year, and Swiss-born Mrs. Janice Udogu, married to a Nigerian won the Heritage Embrace Award for her love for the nation’s customs and tradition.
Others are CCECC, a top-flight international construction company with Construction Company of the Year 2024/25, and Nigerbirds Engineering – Emerging Aviation Powerhouse
Rt. Hon. Obasa, in his remarks, applauded the organisers for spotlighting the indispensable role of expatriate communities in Nigeria’s development journey. He noted that platforms like TEBA not only promote inclusivity and business diplomacy but also help position Lagos and Nigeria as a hub for multicultural growth and investment.
As one of the night’s hallmarks, partners and sponsors received premium visibility before an audience of decision-makers, industry influencers, and public officials, further reinforcing the value of public-private-international collaboration.
TEBA 2025 has cemented its place as one of the leading platforms promoting intercultural recognition, business excellence, and global synergy in Nigeria’s corporate and entertainment landscape.
Tension Rises as LASIEC Delays Release of Candidate List Ahead of LG Polls
With just days to the Lagos State local government elections scheduled for Saturday, July 12, 2025, tension is building as the Lagos State Independent Electoral Commission (LASIEC) has yet to release the official list of candidates. The delay has stirred widespread unease among candidates, political parties, and observers, raising questions about the transparency and credibility of the entire process.
Under the Nigerian Electoral Act and LASIEC’s own guidelines, candidate lists must be published well ahead of polling day to allow the public adequate time to assess their choices. The commission’s continued silence, however, is heightening suspicion and eroding trust across party lines.
When our correspondent visited LASIEC headquarters in Yaba earlier today, the premises bore a tense atmosphere, reinforced by a heavy police presence and barricades, giving the area a near-siege-like appearance.
A member of the All Progressives Congress (APC) in Epe, who requested anonymity, expressed frustration over the delay. “It’s worrisome and alarming that with just three days left, LASIEC has not published the list of contesting candidates. We are demanding answers. Their silence is simply unacceptable.”
There is growing speculation that LASIEC may be playing partisan politics by stalling the announcement of opposition candidates. However, even within the ruling APC, there is a lack of clarity. In Mushin, Shomolu, Onigbongbo, Agege, Alimosho Local Government and Local Council Development Areas, members remain uncertain about who their candidate is. While some suspect attempts to impose some candidates, nothing has been confirmed by the commission.
“If anyone says LASIEC is only screening APC candidates, that’s not accurate,” some APC members in Epe, Shomolu, Onigbongbo, Mushin, Ikosi-Isheri stated. “Even we don’t know who is running. There are rumors of internal interference, but without the official list, we’re left completely in the dark.”
The confusion appears to extend beyond the APC. A People’s Democratic Party (PDP) member in Apapa LGA, also speaking under condition of anonymity, alleged that internal disputes and external influences have complicated the selection process.
“There’s been a power struggle within the party over which candidates to field,” he said. “We heard the list was taken to an APC chieftain in Abuja for ratification. When it came back to Lagos, several names had been altered. This disruption has delayed LASIEC’s ability to finalize and release the list. The situation is chaotic, and many of our members feel betrayed.”
According to him, the changes were made without the consent of key party leaders, and many candidates—including some closely aligned with influential figures—were affected. “We are prepared for whatever happens. Saturday will reveal everything,” he concluded.
Some political analysts suggest LASIEC’s delay may be a strategic move to limit the window for legal action that could challenge the candidates or the process itself.
As election day draws near, the pressure is mounting on LASIEC to come clean and restore public confidence in the electoral system. For now, uncertainty reigns—and the credibility of the July 12 polls hangs in the balance.
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