Aliko Dangote, President of Dangote Industries Limited has disclosed that his conglomerate paid ₦450 billion in taxes to the Federal Government in 2024.
He made this announcement during President Bola Ahmed Tinubu’s visit to the Dangote Refinery and Petrochemicals Plant in Lekki, Lagos, on Thursday, June 5, 2025.
Dangote stated that his group of companies was now the highest tax-paying entity in Nigeria, surpassing even the entire banking sector combined in annual remittances.
The revelation underscores the significant role Dangote Industries plays in bolstering national revenue through tax compliance and economic activity.
In addition to tax contributions, Dangote disclosed that the company would invest an additional ₦900 billion in constructing critical road infrastructure across Nigeria.
This investment is being implemented under the Federal Government’s tax credit scheme, which allows companies to fund public infrastructure in exchange for tax rebates.
One of the key projects funded by this initiative is the Deep-Sea Port Access Road, which serves as a vital link to the massive Dangote Refinery complex.
According to Dangote, this road is just one of eight major road projects the group is undertaking, with a combined length of 500 kilometers.
These projects include strategic road links in Borno State that will eventually connect Nigeria with neighboring Chad and Cameroon.
Speaking during the presidential visit, Dangote praised President Tinubu for his visionary leadership and commitment to economic revitalization.
READ ALSO: NPA, Dangote partner to boost port exports
He said the Tinubu administration had renewed investor confidence, leading to increased participation by the private sector in national development.
“I must thank Mr. President for his bold reforms and focus on infrastructure development. Your leadership has reignited confidence in our economy, and we in the private sector are ready to support your vision,” Dangote said.
In a symbolic gesture to honor President Tinubu’s role in supporting the refinery and related infrastructure, Dangote announced that the main road leading into the refinery complex would be named “Bola Ahmed Tinubu Road.”
According to him, the refinery is “in many ways, your brainchild,” referring to Tinubu’s support for the Lekki Free Trade Zone and deep-sea port during his tenure as Lagos State governor.
The announcement drew applause from dignitaries present, including Femi Otedola, Chairman of First Bank; Abdul Samad Rabiu, Chairman of BUA Group; Olu Verheijen, the President’s Special Adviser on Energy; Zaccheus Adedeji, Executive Chairman of the Federal Inland Revenue Service; and Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries.
President Tinubu responded to the announcement by warmly shaking Dangote’s hand, signaling his appreciation for the gesture and the group’s contributions to the national economy.
Dangote’s declaration highlights the crucial role that Nigeria’s industrial giants play in nation-building, both through tax contributions and strategic investments in infrastructure.
The synergy between the public and private sectors, he suggested, is essential to achieving long-term economic stability and growth.
TheConclave
