Dangote Group: Leading Taxpayer in Nigeria with N402.3 Billion Contribution in 2024

In 2024, Dangote Group paid N402 billion in taxes, becoming Nigeria’s top taxpayer. The contribution reflects its commitment to fiscal responsibility and community support. The company, recognized for its compliance by FIRS, shows significant growth in sectors like cement and petroleum.

In 2024, the Dangote Group paid over N402 billion in taxes, affirming its status as Nigeria’s largest taxpayer. This contribution was announced by Anthony Chiejina, Chief Branding and Communication Officer, during a meeting with senior media executives in Lagos. The tax figures included contributions from Dangote Industries Limited and its subsidiaries, such as Dangote Cement and NASCON, showcasing their commitment to fiscal responsibilities.

The Federal Inland Revenue Service (FIRS) acknowledged Dangote Industries Limited and its subsidiary, Bluestar Shipping, as the most tax compliant organizations during the 2024 Lagos International Trade Fair, organized by the Lagos Chamber of Commerce and Industry (LCCI). The FIRS plays a vital role in assessing and collecting taxes owed to the Nigerian government.

Chiejina reiterated that Dangote Group has consistently fulfilled its obligations towards the government and local communities through its tax payments and Corporate Social Responsibility (CSR) initiatives. He emphasized that the Group’s corporate strategy has matured alongside its business growth over the decades, leading to notable achievements like Nigeria’s self-sufficiency in cement and petroleum production.

Additionally, Dangote Group was recognized as the top taxpayer in Nigeria, with its subsidiary, Dangote Cement, receiving accolades at the FMDQ Gold Awards for its impactful presence in the foreign exchange market. The company was honored for being the Largest Commercial Paper Quotation and for its significant corporate debt issue on the FMDQ, marking its leading role in the financial sector.

Dangote Group’s contribution of N402.3 billion in taxes for 2024 highlights its leadership in tax compliance within Nigeria. The recognition from FIRS reinforces its commitment to responsible business practices and community engagement. As the company continues to expand across Africa and enhance self-sufficiency in key sectors, its prominent role in the economy remains undeniable.

Original Source: dmarketforces.com