Dangote Industries Limited paid N402.3 billion in taxes in 2024, making it Nigeria’s highest taxpayer. The company and its subsidiaries were recognized for their compliance with tax regulations and contributions to local communities through CSR initiatives. The Group’s significant achievements include its extensive impact on cement and petroleum industries in Nigeria, as well as accolades for leadership in the foreign exchange market.
In 2024, the Pan African conglomerate, Dangote Industries Limited (Dangote Group), reported a remarkable tax contribution of over N402 billion, establishing itself as Nigeria’s leading taxpayer. Anthony Chiejina, the Chief Branding and Communication Officer, made this announcement during a meeting with senior media executives in Lagos. The impressive sum of N402.319 billion reflects the Group’s commitment to fulfilling its tax obligations as responsible corporate citizens.
The Federal Inland Revenue Service (FIRS) acknowledged Dangote Industries Limited and its subsidiary, Bluestar Shipping, for their tax compliance during a special event at the 2024 Lagos International Trade Fair. The FIRS is the body tasked with the assessment, collection, and management of taxes and revenues for the Nigerian Federal Government.
Chiejina emphasized that Dangote Industries and its subsidiaries consistently meet their tax responsibilities and actively engage in Corporate Social Responsibility (CSR) initiatives for local communities. He noted the evolution of the Group’s corporate strategy and its significant contributions to Nigeria’s self-sufficiency in cement and refined petroleum products.
Recognitions for Dangote Group’s compliance are noteworthy, with its subsidiary, Dangote Cement, receiving accolades at the FMDQ Gold Awards for being the most active business in the foreign exchange market. The acclaimed Dangote Cement Plc was honored as the largest commercial paper quotation and the largest corporate debt issue on FMDQ, reinforcing the Group’s dominance in the financial and industrial sectors.
In conclusion, Dangote Industries Limited’s significant tax contribution of N402 billion in 2024 underlines its position as Nigeria’s foremost taxpayer. The commendations from the FIRS reflect the Group’s consistent dedication to tax compliance and corporate responsibility, alongside its robust evolution in various business sectors. The accolades received further emphasize Dangote Group’s vital role in the Nigerian economy and its expanding influence across Africa.
Original Source: dmarketforces.com
