Dangote group’s three subsidiaries contribute N474 billion in taxes

Dangote group's three subsidiaries contribute N474 billion in taxes
Dangote group's three subsidiaries contribute N474 billion in taxes

During the opening ceremony of the 18th Abuja International Trade Fair, an official representing Dangote Group, Hashem Ahmed, revealed that three subsidiaries of the Dangote Group had collectively paid a remarkable N474 billion in taxes to the Federal Government over the course of three years.

Ahmed’s announcement was made during a discussion on the fair’s theme, “Sustainable financing and taxation as drivers of the new economy.”

The Abuja Chamber of Commerce and Industry, in collaboration with various private and public partners, organized the trade fair.

Top private sector employer

In his statement, Ahmed emphasized the group’s commitment to sustainable financing and taxation, highlighting that the Dangote Group, in addition to being the largest private-sector employer, is also the highest taxpayer.

Over the span of just three years, the group’s subsidiaries, including Dangote Sugar, Dangote Cement, and Dangote Salt, collectively contributed a substantial N474 billion to the Federal Government.

Ahmed further emphasized the Dangote Group’s extensive support, including empowerment and skill acquisition programs, Corporate Social Responsibility initiatives, sponsorships, and philanthropic endeavors that amount to several billions of naira.

He expressed the group’s satisfaction with the Federal Government’s efforts to implement tax reforms aimed at expanding the tax base and securing vital financing for the country’s infrastructure development.

The Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, discussed the government’s commitment to supporting small businesses and startups in response to Nigeria’s current economic challenges.

She revealed plans to allocate N75 billion by March 2024 to bolster the manufacturing sector and provide grants to micro-businesses across Nigeria’s 774 Local Governments.

Uzoka-Anite highlighted recent initiatives, including the National Technology Export program in partnership with Microsoft and a $600 million investment in Digital and Creative Enterprises in collaboration with the African Development Bank and other partners.