Dangote Industries Limited increased the Federal Government’s tax base by remitting over N474 billion in taxes over the course of three years.
The Punch reported that they are all listed on the Nigerian Exchange Limited’s floor: Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc.
An analysis of the remittances revealed that the largest cement manufacturer in Africa, Dangote Cement Plc, was responsible for 87.2 percent of the funds, contributing N412.9 billion in taxes over the course of three years.
Dangote Sugar Refinery and NASCON Allied Industries, two of DIL’s smaller businesses, contributed N55.38 billion and N5.39 billion, respectively.
Dangote Cement paid a total of N97.24 billion in taxes at the end of the fiscal year in 2020, N173.93 billion in 2021, and N141.69 billion in 2022, according to a further breakdown of its tax payments.
The chairman of Dangote Industries Limited, Aliko Dangote, revealed in a statement that the tax paid by these conglomerate businesses reaffirms the group’s position that paying taxes on time and accurately is a requirement for everyone who wants to experience true progress and development.
According to a statement issued by DIL’s Corporate Communications Unit, Dangote believes that the government cannot provide social services to citizens until taxes are collected.
