Nigerian Government Gets 52% Tax For Every ₦1 We Earn – Dangote

Business tycoon, Aliko Dangote, recently revealed that the Nigerian government gets 52% tax for every ₦1 earned by his company in the country.

Dangote made this revelation on the 17th of this month in the ongoing Africa CEO Forum in Kigali, Rwanda, stressing the negative impact of such move on entrepreneurship in Africa.

He warned against government policies that might antagonize industrial development in Africa, noting that such policies could bring about business insolvency.

He also emphasized the need for consistency in these policies, if the goal is to ensure the success of businesses in Africa.

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Nigerian Government Gets 52% Tax For Every ₦1 We Earn – Dangote: More From the CEO

“The Federal Government can say that the goalpost is here today, and then tomorrow move it to some other place. These are the main issues and they can bankrupt anybody”, he said.

He however, praised some government policies that he acknowledges as positive, like the the issue of payment of electricity tariff and the Petroleum Industry Act (PIA).

According to Dangote, this is going to yield significant positive results in the energy sector, if the government maintains consistency.

He then noted the need to adopt a win-win strategy when the government is making its policies.


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