Dangote Group Pays N402.3bn Tax To Govt
Dangote Group and its subsidiaries have disclosed that it paid over N402bn in taxes in 2024, making it the highest taxpayer in the country.
The Group noted that Dangote Industries Limited (DIL) and its subsidiaries, namely, Dangote Cement, NASCON, Dangote Packaging Limited among others, remitted a total of N402.319b as taxes as responsible business enterprises.
The group said that DIL and its subsidiaries have never abdicated its obligations to the government in the form of tax payment at all levels or to host communities in the form of Corporate Social Responsibility (CSR).
According to the report, the Group’s corporate strategy has evolved just as its businesses have grown, matured and diversified into new sectors and regions over the last four decades.
Recall that the Federal Inland Revenue Service (FIRS) had in late 2024 recognized DIL and its subsidiary, Bluestar Shipping as the most tax compliant organizations in the country during its Special Day at the 2024 Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI).
The Federal Inland Revenue Service is Nigeria’s agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria.
The Group’s flagship, Dangote Cement Plc reported a profit before tax of N732.537bn for the financial year ended December 31, 2024, representing a 32.44 per cent year-on-year increase from 2023.
According to the annual report and financial statements reviewed, the company’s full-year revenue surged by 62.16 per cent to N3.581tn, driven by strong revenue from Nigeria (57 per cent) from the sale of cement and clinker.
In line with its dividend policy, the Directors have recommended a dividend of N30.00 for the 2024 financial year (same as in 2023).
The Board considers this dividend appropriate and aligned with the company’s strategic growth objectives, reinforcing investor confidence and shareholder value.
Dangote Group Pays N402.3bn Tax To Govt is first published on The Whistler Newspaper
