Dangote pay 52% of his profits to government as tax, he pays N900 million VAT daily/ N27 billion monthly. N170 billion corporate tax annually and N30 billion withholding tax. This is on top the over 70,000 direct job he provided Nigerians. Imagine paying 52% of your profits for politicians to turn it into their allowances.
God bless Aliko Dangote more( he is blessed already). Some people may not like him but he is trying. He should go into steel production and investment in healthcare like building world class hospitals in Kano, Abuja, Lagos or Ibadan in SW and Port Harcourt and Enugu in the Southsouth and Southeast respectively.
The logic behind Nigerian tax is funny. How can businesses prosper with this kind of crazy tax regime. Dangote basically created his own wealth without government help in terms of stable electricity, ports & infrastructure. Yet they still tax the hell out of him. Tax reforms is needed.
It not tax , dangote is paying them return on investment, those crook invested stolen Nigeria money in Dangote business and he paying them their profit
What amount of crude is your NNPC able to supply his refinery? You want him to import crude from Texas, USA, refine it, and sell at government induced prices, right? You think he is father christmas, right? He borrowed money to build these businesses and will have to pay back in USD. Let the govt get its refineries working to compete with Dangote.
How can your domestic consumers pay more for products manufactured locally, doesn't make any sense. So what are the advantages for local consumers aside from paying taxes.
Let others build industries like Dangote did. He is a great patriot and a national hero. Abeg, b4 you insult me, I am Igbo but I know his worth to the Nigerian economy, and therefore support him with my full chest. Well, I have always done so for the last 30yrs.
Your thought is sickening. He is from Kano. Why did he not locate the refinery there? He is a global entrepreneur who deploys his funds based on rational economic considerations. Can we stop being petty. Tell your governors to engage and entice him with incentives to invest in their states. Texas lobbied Elon Musk with incentives to move some of his business from California. This is what federalism is all about. Governors in Nigeria should get creative and start creating the conditions and incentives that will attract investors to their respective states. They need not wait for the Abuja. Alex Otti of Abia is already doing this.
