Dangote Group subsidiaries paid FG N474bn in tax – Report

Bisola David
Bisola David
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In three years, three Dangote Group subsidiaries paid the federal government a total of N474 billion in taxes.

According to The Punch, a representative of the Dangote Group,  Hashem Ahmed, said this on Thursday during the 18th Abuja International Trade Fair’s opening ceremony.

Ahmed, who spoke on behalf of the multibillion-dollar organization, revealed this while discussing the fair’s theme of “Sustainable financing and taxation as drivers of the new economy.”

The Abuja Chamber of Commerce and Industry organized the trade show with the help of additional private and public partners.

Ahmed stated, “For us, the theme for this year, which focuses on sustainable financing and taxes, is suitable, as it connects with our modus operandi. I’d like to extend my greetings and best wishes on behalf of the Group President, Aliko Dangote.

“As you may know, in addition to being the largest private sector employer of workers, the Dangote Group is also the largest tax payer. Subsidiaries of Dangote paid the federal government an astounding N474 billion in just three years.

“These are a combination of Dangote Salt, Dangote Cement, and Dangote Sugar. In addition to several empowerment/skill acquisition programs, CSR initiatives, sponsorship programs, and philanthropy initiatives totaling billions of naira, the Dangote Group also provides this ongoing cash support.”

He said that the group was happy that the federal government was pursuing a tax reform strategy that would aid in widening the tax base and provide crucial funding for the construction of the nation’s infrastructure.

The minister of industry, trade, and investment, Doris Uzoka-Anite, also spoke at the event. She noted that in response to Nigeria’s present economic difficulties, the government had launched a plan to promote small businesses and startups.

The Director of Commodity and Export at FMITI, Kaura Irimiya, spoke on behalf of Uzoka-Anite, who said, “We want to spend N75bn by March 2024 to improve the manufacturing sector. Additionally, we want to give modest incentives to microbusinesses in each of the federation’s 774 local governments.”

She also claimed that they have set up a fund of N75 billion that will be utilized to help up to 100,000 MSMEs and start-ups over a 36-month repayment period at a single digital interest rate.

In addition, she stated that earlier this year, “we launched the over $600 million investment in Digital and Creative Enterprises program,, in partnership with African Development Bank and other partners.” Last week, “we launched the National Technology Export Programme, in partnership with Microsoft.”

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