Aliko Dangote, Africa’s richest man and President of the Dangote Group, has revealed that his conglomerate paid N450 billion in taxes to the Nigerian government in 2024. The business magnate made the disclosure during a meeting with President Bola Ahmed Tinubu, underscoring his company’s significant contribution to the country’s revenue base.
The statement was made public following Dangote’s courtesy visit to the President, where discussions centered on Nigeria’s economic outlook, industrial development, and private sector collaboration with government efforts to stabilize and grow the economy.
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During the meeting, Dangote emphasized the importance of a strong partnership between the private sector and government, stating that businesses must play an active role in national development not only through investments and job creation but also by fulfilling tax obligations. He said the N450 billion in taxes paid by his group in 2024 reflects the scale of its operations and its commitment to supporting Nigeria’s economic recovery and fiscal health.
President Tinubu commended Dangote for his contributions and reaffirmed the federal government’s commitment to creating an enabling environment for businesses to thrive. He described the Dangote Group as a strategic partner in the nation’s economic growth and encouraged other private sector players to emulate the company’s example in tax compliance and large-scale investment.
Dangote also used the opportunity to update the President on recent developments in his group’s operations, particularly in manufacturing, agriculture, and energy. He noted that the Dangote Refinery, which began partial operations earlier this year, is expected to make a major impact on Nigeria’s fuel import bill and foreign exchange savings by the end of 2025.
He further expressed optimism about the business climate under the Tinubu administration and called for sustained policy consistency, improved infrastructure, and better support for local industries. Dangote added that fiscal reforms and enhanced regulatory transparency would help boost investor confidence, drive productivity, and stimulate job creation across sectors.
In response, President Tinubu reiterated his administration’s focus on economic reform, job creation, and revenue generation. He said the federal government is working to broaden the tax base while reducing the burden on compliant taxpayers, with an emphasis on digitization and improved tax administration.
Dangote’s tax disclosure comes at a time when the Nigerian government is intensifying efforts to increase non-oil revenue and reduce its dependence on external borrowing. With rising public debt and budget deficits, authorities have placed a renewed focus on improving tax collection, expanding the formal economy, and ensuring that large corporations contribute their fair share to national development.
Observers have described Dangote’s remarks as both a demonstration of corporate accountability and a signal to other major players in Nigeria’s economy. The figure of N450 billion in taxes paid places the Dangote Group among the largest private contributors to government revenue in the country.
As Nigeria continues to navigate economic challenges, including high inflation, a weakened naira, and fiscal constraints, the role of major conglomerates such as the Dangote Group is expected to remain critical in shaping economic outcomes. The meeting between Dangote and President Tinubu is seen as part of broader efforts to align private sector activity with national policy goals.
