Africa’s richest man, Aliko Dangote, says the federal government earns 52 kobo from every N1 generated by his cement business.
Speaking at the 2025 Taraba International Investment Summit on Wednesday, Dangote said the government benefits heavily from taxes on private businesses. He explained that even though the government isn’t directly involved in running companies, it still earns significant revenue through taxation.
“For every N1 we make from cement, 52 kobo goes to the federal government,” he said. “That’s how they fund hospitals, schools, roads — not by owning businesses, but by taxing them.”
He added that creating a good business environment is key to attracting investment and driving economic growth.
