Dangote Group Paid N450 Billion in Taxes in 2024, Pledges N900 Billion for Road Infrastructure
Aliko Dangote, President of the Dangote Group, recently informed President Bola Ahmed Tinubu that his conglomerate contributed a staggering N450 billion in taxes to the federal government in 2024—making it the highest tax-paying corporate entity in Nigeria. Remarkably, this amount surpasses the total tax contributions of all the country’s banks combined. Despite this substantial payment, Dangote affirmed the group’s continued commitment to national development, pledging an additional N900 billion investment in road infrastructure projects across Nigeria. One of the flagship projects under this initiative is the Deep Sea Port Access Road, being constructed through the federal government’s tax credit scheme. Dangote noted that the road is part of a broader infrastructure plan comprising eight major projects totaling 500 kilometers. This includes two roads in Borno State, which will eventually connect Nigeria to neighboring Chad and Cameroon. Commending President Tinubu’s leadership, Dangote described him as a courageous reformer whose administration has reignited investor confidence in the private sector. He also expressed gratitude for the president’s vision behind transformative projects like the Lekki Deep Sea Port. In a symbolic gesture, Dangote announced that the main access road to the cutting-edge Dangote Petroleum Refinery & Petrochemicals complex will be named Bola Ahmed Tinubu Road in honor of the president. “The Dangote refinery complex is, in many ways, your brainchild,” Dangote said, addressing President Tinubu. “Mr. President, let me just say one thing — the main road leading into our refinery is now to be known as Bola Ahmed Tinubu Road.” Following the announcement, President Tinubu stood up to shake hands with Dangote, drawing a round of applause from the dignitaries present. For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Sunmola David & CO (Chartered Accountants & Tax Practitioners) at Lagos, Ogun state Nigeria offices, www.sunmoladavid.com. You can also reach us via WhatsApp at +2348038460036.
