Dangote Group’s Remarkable Tax Contribution of N402.3 Billion in 2024

In 2024, the Dangote Group paid N402 billion in taxes, marking it as Nigeria’s top taxpayer. This was confirmed by Anthony Chiejina, who emphasized the Group’s commitment to tax compliance and corporate social responsibility. FIRS recognized the Group for its compliance, with accolades also awarded to Dangote Cement at the FMDQ Gold Awards for its activities in Foreign Exchange markets.

In 2024, the Dangote Group and its subsidiaries reported tax payments exceeding N402 billion, establishing itself as the highest taxpayer in Nigeria. During a recent engagement with senior media executives at his Lagos office, Anthony Chiejina, Chief Branding and Communication Officer of Dangote Industries Limited (DIL), affirmed that this substantial contribution reflects the Group’s commitment to corporate responsibility.

The Federal Inland Revenue Service (FIRS) recognized DIL and its subsidiary, Bluestar Shipping, as the most tax compliant organizations in Nigeria during a ceremony at the 2024 Lagos International Trade Fair, organized by the Lagos Chamber of Commerce and Industry. This acknowledgment underscores the Group’s obligation towards fulfilling its tax liabilities seriously and effectively.

Chiejina elaborated on the Group’s unwavering dedication to its social and fiscal responsibilities, emphasizing that DIL and its subsidiaries have consistently met their tax obligations and contributed to community development through Corporate Social Responsibility (CSR) initiatives. He highlighted the evolution of the Group’s corporate strategy over the past four decades, showcasing its growth in diverse sectors and the drive towards achieving self-sufficiency in cement and refined petroleum products in Nigeria, whilst expanding across Africa.

The Dangote Group, alongside its subsidiaries, has been recognized for tax compliance, with Dangote Cement, Nigeria’s leading cement manufacturer, receiving accolades including awards at the FMDQ Gold Awards for its significant activities in the Foreign Exchange market. Notably, Dangote Cement Plc was named the Largest Commercial Paper Quotation on FMDQ and distinguished as the Most Active Corporate in the foreign exchange sector.

In summary, the Dangote Group’s payment of over N402 billion in taxes in 2024 establishes the company as a pivotal contributor to Nigeria’s economy. Through consistent tax compliance and robust CSR initiatives, the Group demonstrates its commitment to fulfilling government obligations while fostering community development. With a strong emphasis on growth and diversification, Dangote Group continues to solidify its position as a leader in various sectors across Nigeria and Africa.

Original Source: dmarketforces.com