Africa’s richest man, Aliko Dangote , revealed on Wednesday, May 21, 2025, that the federal government of Nigeria earns more revenue from the operations of Dangote Cement than the company itself, asserting that 52 kobo of every N1 generated goes to the government.
Speaking at the 2025 Taraba International Investment Summit, Dangote emphasised the pivotal role of taxation in public development and underscored the importance of creating an enabling environment for private investment
I’m sure it might be shocking to you to know that the federal government of Nigeria, not even the state, makes more money from, for example, our cement business.
For every N1 we turn around, 52 kobo goes to the federal government of Nigeria,” Dangote said.
He argued that while the adage “government has no business in business” is often cited, public services such as education, healthcare, and infrastructure are still funded through private sector taxes.
“It’s through what? Taxes,” he noted, referencing how governments like the United States generate revenue from privately held oil blocks rather than owning them.
Dangote also highlighted the importance of strong domestic investment ecosystems as a magnet for foreign capital, stating that “until local investors prosper, foreign investors are reluctant to make an investment in a country.”
The comments came as the Dangote Group announced a major international expansion of its petrochemicals division.
The company has signed an exclusive global marketing agreement with Premier Product Marketing LLC, a Vinmar Group company, to distribute Dangote Polypropylene to international markets.
“This strategic agreement coincides with the launch of polypropylene production at Dangote’s refinery and petrochemical complex in Lekki, Nigeria,” said Anthony Chiejina, Group Chief Branding and Communications Officer.
Polypropylene is a high-demand plastic polymer used in various industries, including packaging, construction, automotive manufacturing, textiles, and medical equipment.
According to the company, the Ibeju-Lekki facility is capable of producing 900,000 metric tonnes annually, with projected revenue of $1.2 billion.
The plant will manufacture 77 grades of polypropylene, tailored to global industry needs.
Fatima Aliko Dangote, Group Executive Director (Commercial), stated, “Dangote Polypropylene will grow into a worldwide brand recognised for its dependability and quality, following in the footsteps of other Dangote products.”
Vinmar’s CEO, Vishal Goradia, added, “We are proud to expand our relationship with Dangote through this important partnership. We are now excited to support the global debut of Dangote Polypropylene.”
Founded in 1978, Vinmar operates in over 110 countries with more than 1,500 employees and 58 offices worldwide, making it one of the largest global marketers and distributors of petrochemicals.
The polypropylene launch follows the January 2024 commissioning of the Dangote Petroleum Refinery in Lagos, which began production of aviation fuel and diesel at a capacity of 650,000 barrels per day.
With this expansion, the Dangote Group further cements its position as a key player in Nigeria’s industrial landscape while deepening its global footprint in petrochemicals and refining.
