Dangote Cement pays N412.9bn in Taxes to Gov’t for 3 Years

Dangote Cement Plc, a subsidiary of Dangote Industries Limited, (DIL), has paid a total of N412.9 billion into the coffers of the Federal Government as tax for 3 consecutive years.

A statement from the group said: “A total of N97.24bn was paid by Dangote Cement in 2020, N173.93bn in 2021 and N141.69bn in 2022.

“This huge tax payment from only one of the conglomerate’s subsidiaries, re-affirms Aliko Dangote’s position that prompt and accurate tax payment is a duty for everyone who wishes to witness real growth and development. He posited that the government cannot offer social services to the citizens without tax collection.

READ ALSO: Nigerians troll Dangote over hike in cement price report  

The statement quoted Dangote advising  the government to automate the tax system in the county while commending the inauguration of the Presidential Committee on Fiscal Policy and Tax Reforms.

He said: “Maybe they should look at automating the tax system, just like what they did in India. If you go to India today, the country collects at least $1 trillion in various taxes.

“On petroleum products alone, India makes $100 billion yearly, because they charge 100 percent on petroleum products. So, what I am suggesting is that people should pay taxes and if you pay, you demand services from the government. I think it is a social contract.

Analysis of the annual reports of Dangote’s three listed companies indicated that they paid N114.31 billion as tax in 2020; N187.17 billion in 2021 and N172.15 billion in 2022.

During the three years, Dangote Cement paid a total of N412.86 billion as taxes,  Dangote Sugar Refinery paid N55.38 billion, while NASCON Allied Industries paid N5.39 billion.

READ ALSO: Dangote clears air on cement price hike, says lower than other West African countries

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SOURCE: Dailytrust