Africa’s richest man and President of the Dangote Group, Alhaji Aliko Dangote, has disclosed that his group of companies paid a staggering N450 billion in taxes to the Federal Government in 2024, making it the highest tax-paying corporate organisation in Nigeria.
Dangote made this revelation during a high-profile meeting with President Bola Ahmed Tinubu, where he also pledged a further N900 billion investment in critical road infrastructure across the country. This commitment, he said, would be carried out under the Federal Government’s tax credit scheme aimed at encouraging private sector contributions to national development.
According to Dangote, the company’s tax payments have surpassed those of all Nigerian banks combined, showing the scale of the Group’s operations and financial compliance.
“We paid N450 billion in taxes in 2024,” he said, “making us the highest tax-paying corporate group in Nigeria.”
Despite this large contribution to government revenue, the Dangote Group is also investing heavily in infrastructure. Dangote said that one of the major ongoing projects, the Deep Sea Port Access Road, is just one of eight major road developments covering over 500 kilometres across the country.
Among the strategic roads under construction are two in Borno State that are expected to eventually link Nigeria with Chad and Cameroon, a move that could boost regional trade and economic integration.
Dangote praised President Tinubu’s administration for creating an environment that supports business growth and encourages private investment.
“Mr President, your administration has revived investor confidence. We see courage, commitment, and a clear vision under your leadership,” Dangote said.
He also expressed gratitude to the President for supporting infrastructure development and applauded the Federal Government for the implementation of the Lekki Deep Sea Port project, a strategic initiative he described as vital for economic growth and logistics efficiency.
In a symbolic gesture during the meeting, Dangote announced that the main road leading to his massive Dangote Petroleum Refinery and Petrochemicals Complex will now be named after the President.
“The Dangote refinery complex is, in many ways, your brainchild,” Dangote said. “Let me just say one thing — the main road leading into our refinery is now to be known as Bola Ahmed Tinubu Road.”
The announcement drew loud applause from dignitaries present at the meeting, as President Tinubu rose to shake hands with Dangote in a moment of warm recognition.
The Dangote Refinery, located in the Lekki Free Trade Zone in Lagos, is one of the largest single-train refineries in the world. The facility, which began partial operations recently, is expected to drastically reduce Nigeria’s dependence on imported refined petroleum products and strengthen energy security.
The tax credit scheme through which Dangote is developing roads was introduced to allow companies to finance critical infrastructure and get tax relief in return. The policy, initiated during previous administrations, is now being aggressively promoted under Tinubu’s government as a way to partner with the private sector in tackling Nigeria’s infrastructure deficit.
The President has repeatedly called on Nigerian companies to take up the challenge of nation-building and play more active roles beyond profit-making. Dangote’s fresh commitments appear to align with this vision.
Meanwhile, economic experts have praised the Dangote Group’s role in job creation, manufacturing, and infrastructure, noting that the N450 billion tax payment is not just a major boost to government revenue but also a sign of corporate responsibility at a time when public finances are under pressure.
In a country facing rising inflation, revenue shortfalls, and infrastructure gaps, such private sector-driven development could offer some relief to government efforts, while also strengthening investor confidence domestically and internationally.
With ongoing investments in roads, ports, and oil refining, Dangote’s business empire continues to play a leading role in Nigeria’s economic transformation.
