Nigeria, (EPICSTORIAN) – Dangote Industries Limited has further cemented its legacy as a pillar of Nigeria’s economy, receiving multiple accolades for its outstanding contributions in finance and tax compliance.
At the 2024 FMDQ GOLD Awards, Dangote Cement emerged as the largest commercial paper quotation and the single largest corporate debt issue on the FMDQ platform. Additionally, the Group was recognized as the most active corporate participant in the foreign exchange market.
The FMDQ GOLD Awards, designed to celebrate Global Competitiveness, Operational Excellence, Liquidity, and Diversity, honor key players in Nigeria’s financial sector who shape markets and bolster economic development.
“This recognition reflects resilience and agility, traits essential for driving growth in the Nigerian financial system,” stated an FMDQ representative during the event.
Dangote Industries Set Benchmark in Simplifying Tax Administration
Beyond its financial milestones, Dangote Industries was lauded by the Federal Inland Revenue Service (FIRS) for its exemplary tax compliance. At the 2024 Lagos International Trade Fair, Dangote Cement and Blue Star Shipping received accolades for maintaining high tax compliance standards.
Ishola Akingbade, representing the FIRS chairman, emphasized the importance of such adherence, stating, “Companies like Dangote set a benchmark in simplifying tax administration.”
Dr. Titi Fowokan, Dangote’s Head of Tax Compliance, elaborated on the Group’s tax strategy. “We operate a zero-tolerance policy towards non-compliance and strictly adhere to statutory deadlines,” she explained.
She attributed the company’s success to world-class governance processes that align with Nigeria’s tax regulations. “By maintaining accurate tax computations and timely remittances, we minimize risks and avoid penalties,” Fowokan added, highlighting the company’s dedication to promoting a culture of compliance.
This recognition underscores the broader economic impact of Dangote Industries, one of Africa’s largest industrial conglomerates. Established in 1978, the Group’s diversified portfolio spans cement, sugar, salt, agriculture, and petrochemicals, with operations in 18 African countries. A core focus is building local manufacturing capacity to create jobs, reduce import dependency, and drive self-sufficiency in critical sectors.
Despite these achievements, the Group faces challenges, including navigating volatile exchange rates and infrastructure deficits. However, its commitment to excellence and strategic investments ensure its continued role as a catalyst for economic transformation.
Dangote Industries remains a shining example of corporate leadership in Africa, demonstrating how business success can align with national development goals. As Nigeria seeks to diversify its economy, companies like Dangote provide a blueprint for sustainable growth.
