The Ogun State Internal Revenue Service (OGIRS) has officially commended Dangote Cement's Ibese Plant for its exemplary tax compliance, recognising the company as the state's highest industrial taxpayer.
This acknowledgement came during a recent familiarisation tour of the 12mmtp Cement Plant in Ibese, led by Mrs. Oluwaseun Olajube, OGIRS Director of Field Operations.
During the visit, Mrs Olajube praised Dangote Cement's management for its dedication to fulfilling its civic obligations, highlighting the company's role in setting a benchmark for corporate responsibility and financial transparency in Ogun State.
"Dangote Cement Ibese Plant continues to demonstrate excellence in tax compliance, and we are proud to acknowledge their contribution to the economic development of our state," she stated.
The agency also reaffirmed its commitment to fostering a business-friendly environment that rewards transparency and compliance, encouraging other companies to emulate Dangote Cement's example.
Mrs Olajube, impressed by the plant's tax credentials, urged the company to maintain its high standards and called for enhanced collaboration, particularly with the Yewa North Zonal Office of the Service.
The visit, she noted, underscores OGIRS's commitment to strengthening alliances with key stakeholders in the state's industrial sector for mutual benefit.
A Commitment to Sustainable Development
Receiving the OGIRS team, Mr Ayyagari Subbaraidu, Director of Dangote Cement Ibese Plant, expressed the management’s appreciation for the visit and the recognition.
He emphasised that the commendation was not merely about numbers but "leadership, integrity, and the positive impact of responsible corporate citizenship."
Mr Subbaraidu acknowledged that tax revenue is the "backbone of economic development" for states, stating, "We recognise that tax revenue is the backbone of economic development of States and remain committed to upholding the principles of compliance, accountability, and transparency in all our engagements with Ministries, Departments and Agencies of government."
This recognition, he added, underscores the importance of private-sector collaboration in driving sustainable revenue generation and supporting essential public infrastructure and services.
The visit marks a significant step toward strengthening public-private synergy to promote sustainable economic growth in Ogun State.
The commendation from Ogun State aligns with a broader pattern of fiscal responsibility demonstrated by the Dangote Group.
This year alone, the conglomerate, led by its President and Chief Executive, Aliko Dangote, paid over N402 billion in taxes to the government, solidifying its position as the country's highest taxpayer.
This figure was disclosed amid a series of accolades bestowed upon the company and its subsidiaries for their commitment to fiscal responsibility.
The Federal Inland Revenue Service (FIRS), the nation's primary tax regulator, previously named Dangote Industries Limited as Nigeria's most compliant taxpayer.
The award, presented during FIRS's Special Day at the 2024 Lagos International Trade Fair, was hailed by Aliko Dangote as a testament to the company's unwavering commitment to fiscal responsibility and transparency.
The recognition extends beyond tax compliance. The company has also been honoured by FMDQ (Financial Markets Derivatives Quotations) with a Gold award for being the most active corporate organisation in the foreign exchange market.
Additionally, Dangote Cement Plc was recognised as the Largest Commercial Paper Quotation on FMDQ and the Single Largest Corporate Debt Issue on the platform during the last GOLD awards ceremony in Lagos.
The FMDQ GOLD Awards, which stand for Global Competitiveness, Operational Excellence, Liquidity, and Diversity, are a corporate tradition that acknowledges the resilience and agility of Nigeria's financial market participants.
These accolades recognise stakeholders whose contributions across the FMDQ's businesses, Securities Exchange, Central Counterparty, and Depository, have positively shaped the markets and, in turn, the development of the Nigerian economy.
The continuous recognition from both state and federal agencies underscores Dangote Cement's role not only as a major industrial player but also as a model corporate citizen committed to contributing meaningfully to the nation's economic progress through responsible and transparent financial practices.
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