During the inauguration of the 18th Abuja International Trade Fair on Thursday, an official from Dangote Group, Hashem Ahmed, revealed that three subsidiaries of the conglomerate have paid a combined total of N474 billion in taxes to the Federal Government over a span of three years.
Representing the multibillion-dollar corporation at the event, Ahmed made this announcement while discussing the fair’s theme, “Sustainable Financing and Taxation as Drivers of the New Economy.”
The trade fair was organized by the Abuja Chamber of Commerce and Industry in collaboration with various private and public partners.
Ahmed conveyed the greetings and good wishes of Aliko Dangote, the Group President, and stated, “The theme for this year, which focuses on sustainable financing and taxation, is fitting for us as it aligns with our operational approach. As the largest private sector employer, Dangote Group is also the largest taxpayer. In just three years, Dangote subsidiaries have contributed a substantial N474 billion to the Federal Government.”
He went on to specify that these subsidiaries encompass Dangote Sugar, Dangote Cement, and Dangote Salt. In addition to this sustained financial support, the Dangote Group also engages in numerous empowerment and skill acquisition programs, corporate social responsibility initiatives, sponsorships, and philanthropic activities, all amounting to billions of naira.
Ahmed expressed the group’s satisfaction with the Federal Government’s pursuit of a tax reform policy that aims to expand the tax base and generate essential funds for the country’s infrastructure development.
Speaking at the same event, the Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, announced the government’s plan to support small businesses and startups in Nigeria in response to the nation’s current economic challenges.
Uzoka-Anite, represented by Kaura Irimiya, the Director of Commodity and Export at the Federal Ministry of Industry, Trade, and Investment, stated, “We intend to spend N75 billion by March 2024 to strengthen the manufacturing sector. We also plan to provide small grants to micro-businesses in all 774 Local Governments in the federation. We have earmarked a fund of N75 billion to support up to 100,000 startups and MSMEs at a single-digit interest rate repayable over 36 months.”
She added that the government had launched the National Technology Export program in collaboration with Microsoft and had earlier initiated an over $600 million investment in Digital and Creative Enterprises program in partnership with the African Development Bank and other entities earlier in the year.
