DANGOTE CONTRIBUTES 53% OF GOVT REVENUE IN MINERAL RESOURCES SECTOR

An agency of the Federal Government, the Nigeria Extractive Industries Transparency Initiative (NEITI), has revealed that Dangote Industries Limited generates more mineral resource revenue for the government than the rest of the nation put together. Aliko Dangote In its reports made available to the press yesterday, Dangote Cement was responsible for 53 per cent of the government revenue, that is, N15.9 billion of the total N33.86 billion accrued that year to the Federal Government. The report revealed that 93 per cent of the total government revenues from solid minerals sector were from five companies: Dangote, WAPCO, Ashaka Cement, Unicem, CCNN and others. The report states that: “53 per cent of the country’s revenue from the solid minerals sector was paid by Dangote Cement Plc to the Federal Government.” NEITI says Nigeria has about 52 solid mineral resources across all states of the federation, with every state possessing at least two mineral resources. But of all 52, limestone was exploited more in 2013, than 51 others put together. Limestone, which is used for making cement, was responsible for 52 percent of solid mineral productions. Granite, Laterite, and sand were responsible for 27.8, 11.3 and 5.8 percent respectively. Forty-eight other minerals were responsible for only 3 percent of the country’s solid mineral productions. It would be recalled that Dangote Cement Plc has recently expanded its frontiers to Asia, by constructing a 3 million metric tons per annum (mmtpa), Cement Plant in Nepal, as part of its new investment of $4.34 billion into 10 African countries.


For the full story, check the Vanguard newspaper.








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