"It might interest you", Dangote reveals how much FG makes from its cement business

• The Nigerian authorities precocious introduced a Nigeria-first argumentation to enactment section businesses with patronage implicit overseas businesses
• The richest antheral successful Africa, Aliko Dangote, has recommended different mode the authorities tin pull overseas investors
• Dangote explained that this method volition bring a batch of gross for the government, make thousands of jobs, and boost the Nigerian economy

Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.

The Nigerian authorities has been emphatic connected attracting overseas investments to boost the Nigerian economy, make occupation opportunities locally and amended export potentials.

Recently, the authorities declared that it would nary longer let the importation of goods that are already being produced locally. This determination is expected to bring much manufacturers and investors to acceptable up factories successful Nigeria.

Africa’s richest man, Aliko Dangote, has said that overseas investors volition lone beryllium attracted to an system with a vibrant assemblage of section investors.

Dangote stressed that nary overseas capitalist would travel to a state wherever section businesses are struggling to survive. Photo credit: Contributor
Source: Getty Images

Dangote’s advice: stimulate section businesses to awesome overseas investors

Speaking astatine the Taraba International Investment Summit successful Jalingo, the President of the Dangote Group, stated that it is section investors that volition pull overseas investors.

He urged the national and authorities governments to archetypal stimulate section investments by patronizing section producers to promote economical development.

This would nonstop a awesome to the planetary assemblage and pull overseas investors.

Dangote tells authorities what to bash to pull investors

Dangote explained that nary overseas capitalist is attracted to travel to a determination wherever the section businesses are not thriving.

He said;

“The lone mode for you to pull overseas investments oregon investors is by having section investors. Domestic investors are the ones who really pull overseas investors. If you don’t invitation section investors to travel and invest, nary foreigner volition travel and invest. “Foreigners are attracted lone erstwhile they spot prospects for investment. Once they spot that, yes, things are flowing, you don’t person to invitation them, they volition come,” Dangote said.

The businessman, who was precocious listed among the Times' 2025 database of 100 philanthropists, noted that cardinal infrastructural challenges indispensable beryllium fixed to marque the authorities charismatic to investors.

Dangote discloses however overmuch FG makes from his cement business

To thrust location the point, Aliko Dangote explained that the national authorities makes a batch of wealth from the cement-making subsidiary of Dangote Industries Limited.

Speaking astatine the event, which was covered by Channels television, helium said;

“I’m definite it mightiness involvement you to cognize that the national authorities of Nigeria, not adjacent the state, makes much wealth from, for example, our cement business. For each N1 that we crook around, 52 kobo goes to the national authorities of Nigeria. So, that’s the benefit.”

He encouraged the authorities to bash much to facilitate an situation wherever businesses would thrive, truthful that much jobs would beryllium created for its indigenes, translating to much taxes and prosperity for all.

The Dangote refinery started cognition successful Lagos, Nigeria, successful September 2024, and has helped accrued the state's GDP. Photo credit: Dangote group
Source: UGC

Dangote commended the Governor, Agbu Kefas, for organizing the concern summit, noting that with the resources contiguous successful Taraba state, much investors can easy beryllium attracted to the state.

He promised that the Dangote industries would proceed to put successful Taraba State.

Dangote urges FG to code powerfulness assemblage challenges

In related news, Dangote has said that the outgo of doing concern successful Ethiopia was 30% little than the outgo of doing concern successful Nigeria.

The billionaire noted that this quality makes his cement mill successful Ethiopia the most profitable of each the subsidiaries.

He called connected the authorities to code the erratic powerfulness proviso occupation successful Nigeria, arsenic this accounts for the highest operations costs for galore manufacturers successful the country.

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Source: Legit.ng