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.
This was contained in its report released to the press yesterday, where it said that Dangote Cement was responsible for 53 percent of government revenue from mineral resources, about N16 billion of the total N33.86 billion accrued in 2013, to the Federal Government.
“53 percent of the country’s revenue from the solid minerals sector was paid by Dangote Cement Plc to the Federal Government,” the report says.
It added that that 93 percent of the total government revenues from solid minerals sector were from five companies: Dangote, WAPCO, Ashaka Cement, Unicem and CCNN.
NEITI says Nigeria has about 52 solid mineral resources across all states of the federation, with every state possessing at least two mineral resources. However, 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, while 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, NEITI revealed.
The federal government during past administrations enabled Dangote get to where he is today. So, I really do not think he is doing anything extra-ordinary by this singular act.
Let us no forget the history behind the growth and development of Dangote’s investments in Nigeria. I honestly do not feel it is right trumpeting Dangote for this act!!!