Dangote Industries Limited (DIL) and its subsidiaries paid over N402 billion in taxes for the year 2024, making them the highest taxpayer in Nigeria. This payment was revealed by Anthony Chiejina, the Chief Branding and Communication Officer of Dangote Group, during a meeting with senior media executives at the company’s Lagos office.
The tax payment includes contributions from Dangote Cement, NASCON, Dangote Packaging Limited, and other subsidiaries. The total amount paid in taxes for the year 2024 was reported to be N402.319 billion. This massive payment highlights the company’s role as one of the largest corporate contributors to the Nigerian economy.
Chiejina noted that Dangote Group has always been a responsible business entity, fulfilling its obligations not just to the government but also to the communities where it operates. The company has maintained a strong commitment to corporate social responsibility (CSR) over the years. Through its tax payments and CSR efforts, Dangote Group continues to support both national development and local communities.
Recognition for Tax Compliance
In late 2024, the Federal Inland Revenue Service (FIRS) recognized Dangote Industries Limited and its subsidiary, Bluestar Shipping, for their outstanding compliance with tax regulations. This recognition was part of the FIRS’s special celebration at the 2024 Lagos International Trade Fair, which was organized by the Lagos Chamber of Commerce and Industry (LCCI).
The FIRS is the government agency responsible for assessing, collecting, and accounting for tax revenues in Nigeria. The recognition by the FIRS highlights Dangote Group’s exemplary performance in tax compliance, setting a standard for other businesses in the country. This acknowledgment comes as a part of a larger effort by the government to encourage corporate tax compliance and boost national revenue.
Dangote Group’s Impact on Nigeria’s Economy
Dangote Group’s contribution goes beyond just taxes. The conglomerate, which has diversified its operations over the years, has played a critical role in helping Nigeria achieve self-sufficiency in cement and refined petroleum products. The company’s growth over the last four decades has positioned it as a key player in Nigeria’s economic development.
One of Dangote Group’s flagship subsidiaries, Dangote Cement, has led the charge in cement production, making Nigeria less reliant on cement imports. The company has become a dominant force in the African market, expanding rapidly to several countries on the continent. Dangote Cement has consistently produced high-quality cement, which is essential for infrastructure development, both in Nigeria and across Africa.
In addition to cement, Dangote Refinery, another major subsidiary, is a key contributor to Nigeria’s drive for self-sufficiency in refined petroleum products. The refinery is expected to significantly reduce the country’s reliance on imported petroleum products, which has been a major challenge for the Nigerian economy for many years.
Dangote Group has also made substantial investments in other sectors such as agriculture, manufacturing, and packaging, further diversifying its operations and impact on the economy.
Corporate Social Responsibility and Community Support
Beyond its financial contributions, Dangote Group has consistently demonstrated a strong commitment to corporate social responsibility. The company has supported a variety of community initiatives across Nigeria, including investments in education, healthcare, and infrastructure. Dangote Group has funded several projects aimed at improving the lives of people in the communities where it operates.
In particular, Dangote Cement has implemented various programs designed to support local communities, such as providing scholarships to students, improving local infrastructure, and funding healthcare initiatives. These efforts have helped improve living standards in many of the communities where the company has a presence.
Awards and Recognition in the Business Community
In addition to being recognised by the FIRS for tax compliance, Dangote Group has also earned several prestigious awards in recent years. Dangote Cement, for instance, was named the most active business in the Foreign Exchange market at the 2024 FMDQ Gold Awards in Lagos. The company won three awards at the event, including recognition as the largest commercial paper quotation on FMDQ and the single largest corporate debt issue on the FMDQ platform.
These awards highlight Dangote Group’s strong performance in the financial markets and its role in shaping Nigeria’s economic landscape. Dangote Industries Limited was also named the most active corporate in the foreign exchange market, reflecting its significant impact on the Nigerian economy.
