“Foreign investors won’t come if local investors aren’t faring well.”
At the 2025 Taraba Investment Summit, Dangote Group Chairman Aliko Dangote revealed that 52% of local investment revenue becomes federal tax. “Every one Naira turned around in local investment, 52 Kobo goes to the federal government as taxes,” he stated, urging state governments to create friendlier environments for domestic investors to stimulate development.
The billionaire industrialist emphasized that foreign investors only follow strong local investment climates. He praised Governor Agbu Kefas’ TARAVEST initiative, identifying Taraba as prime for agricultural investments. Dangote pledged his group’s continued Nigerian investments to generate employment, noting domestic businesses serve as economic anchors when properly supported.
“States would develop unimaginably if local investors are encouraged,” Dangote asserted, highlighting the multiplier effect of nurturing homegrown enterprises. His tax disclosure underscores the heavy fiscal burden on Nigerian businesses, with the call coming amid growing concerns about the nation’s business competitiveness and states’ efforts to attract investments beyond oil revenues.
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