Dangote Commits N900 Billion to Road Infrastructure After Paying N450 Billion in Taxes
Africa’s richest man and President of the Dangote Group, Alhaji Aliko Dangote, has pledged to invest a staggering N900 billion in road construction projects across Nigeria, even after his conglomerate paid N450 billion in taxes last year.
Dangote made the announcement on Thursday during a landmark event at the Lekki Free Trade Zone, where he also honored President Bola Ahmed Tinubu by naming the major access road to the Dangote Refinery after him. The newly named Bola Ahmed Tinubu Road underscores Dangote’s appreciation for the President’s economic reforms and support for industrial development.
Speaking at the event, Dangote highlighted the extensive road projects being undertaken by his group through the federal government’s tax credit scheme. The initiative allows private companies to fund infrastructure development in exchange for tax rebates.
President Tinubu made his first official visit to the Dangote Refinery on Thursday. As part of his tour, he also commissioned the Lekki Deep Sea Port concrete road, flagged off Section 2 of the Lagos-Calabar Superhighway, and launched the construction of the 25-kilometre 7th Axial Road. This vital route will link the deep sea port, the Free Trade Zone, and the refinery to the Sagamu-Benin Expressway via Ijebu Ode, enhancing connectivity and easing logistics in the region.
The refinery, one of the largest in Africa, is expected to significantly boost Nigeria’s self-sufficiency in petroleum products and support the country’s economic growth.