On a weekend filled with accolades, the Dangote Group and its subsidiaries were celebrated as Nigeria's top tax-compliant business organizations, clinching significant awards from the Federal Inland Revenue Service (FIRS) and the Financial Markets Dealers Quotations (FMDQ).
These prestigious recognitions highlight Dangote’s leadership in tax compliance, financial market activity, and corporate responsibility, underscoring its influence in Nigeria's economic landscape.
At the FIRS Special Day held during the Lagos International Trade Fair, Dangote Industries Limited (DIL) and its subsidiary, Bluestar Shipping, were lauded as the most compliant taxpayers in the country, surpassing other prominent contenders, including MTN Communications.
The FIRS, Nigeria’s tax regulatory body, specifically honoured Dangote Cement, a leading subsidiary, as the biggest taxpayer among compliant companies in Nigeria.
This recognition falls under the “FIRS Compliant Taxpayers Awards,” which celebrates companies that demonstrate exceptional dedication to tax compliance.
Addressing the milestone, Dr Titi Fowokan, Head of Tax Compliance at Dangote Industries, emphasized the Group's commitment to legal and tax obligations, saying, “Dangote as a Group has a Tax Policy based on zero tolerance for tax non-compliance.
“As good corporate citizens, we comply with all relevant laws, including tax laws.
“Complying with tax payment statutory deadlines ensures we avoid penalties and demonstrate our corporate responsibility.”
Fowokan detailed that Dangote’s strategy to maintain tax compliance includes implementing global best practices in tax governance, ensuring accurate tax computation, and prompt remittance of dues.
These rigorous measures have helped the Group mitigate tax audit risks and avoid penalties, reinforcing its reputation as a model taxpayer.
Adding to its honours, Dangote Cement clinched three awards at the 7th Annual FMDQ Gold Awards held in Lagos.
These awards celebrated the cement giant for having the “Largest Commercial Paper Quotation” and the “Single Largest Corporate Debt Issue” on FMDQ’s platform.
Furthermore, Dangote Industries Limited was crowned as the “Most Active Corporate in the Foreign Exchange Market,” a testament to the Group's substantial presence in Nigeria’s financial markets.
The FMDQ Gold Awards, which highlight Global Competitiveness, Operational Excellence, Liquidity, and Diversity (GOLD), recognize organizations that drive resilience and innovation within the Nigerian financial sector.
FMDQ Managing Director (MD) Ayodele Onawunmi, praised Dangote Group’s active participation, stating that its involvement has positively influenced Nigeria’s economic trajectory, especially in foreign exchange and debt markets.
Dr Fowokan explained that the Group’s tax compliance culture promotes transparency and accountability, directly benefiting the government’s ability to deliver public services.
“We pride ourselves on the Dangote Brand and aim to foster a culture of tax compliance, which aligns with our corporate duty to support public goods and services,” she stated.
Dangote Group’s contributions to Nigeria’s economic development extend beyond financial commitments.
Founded in 1978, the Group has evolved into one of Africa’s largest and most diversified industrial conglomerates, with interests spanning cement, sugar, salt, fertilizers, agriculture, real estate, and petrochemicals.
By building manufacturing facilities in Nigeria and 17 other African nations, Dangote has generated thousands of jobs, encouraged local production, and helped retain capital within the continent.
The weekend’s celebrations were marked by an official award presentation in Lagos.
Akin Omole, Managing Director of Dangote Ports, and Dr Titi Fowokan received the FIRS award on behalf of the Group from FIRS officials, including Dr Loveth Onanuga, Director of Taxpayers Service.
Similarly, Temilade Aduroja, Dangote’s Group Head of Investor Relations, accepted the FMDQ awards from Ayodele Onawunmi, underscoring the Group's exceptional performance across multiple domains.
With these awards, the Dangote Group has set a new benchmark for corporate governance and responsibility in Nigeria, continuing to drive economic progress and exemplifying best practices in tax compliance and financial market engagement.
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