Dangote group firms pay ₦104.7bn taxes in nine months, down 15.5% despite profit surge

Dangote Cement, NASCON Allied Industries, and other Dangote-associated companies paid a combined ₦104.74 billion in cash taxes during the nine months ended September 2026, a 15.5% drop from ₦123.97 billion in the same period last year, according to their financial statements analyzed by Nairametrics.

Dangote Cement dominated with ₦97.74 billion (93.3% of total), down 15.3% from ₦115.40 billion, even as its tax expense nearly doubled to ₦497.71 billion and pre-tax profit surged 41.5% to ₦1.47 trillion. The gap reflects timing differences between recognised tax obligations and actual cash settlements—₦97.7 billion paid so far, with the balance due in Q4 2026 and 2027.

NASCON bucked the trend, increasing tax payments 34.7% to ₦7 billion. Dangote Sugar and the Petroleum Refinery reported tax expenses (₦3.93 billion and ₦392.84 billion respectively) but disclosed no 2026 cash payment figures.

Meanwhile, Dangote Refinery posted a $4.73 billion net profit (reversing a $117.2 million loss), with revenue jumping 144% to $22.48 billion. Dangote's NGX-listed wealth grew ₦1.47 trillion in Q3 alone, and succession planning advances with his three daughters taking larger roles.

For investors and tax watchers, the divergence between soaring profits and declining cash tax payments highlights how accounting timelines differ from actual revenue collection—something to track when the fourth quarter numbers land.

SOURCE: https://nairametrics.com/2026/10/31/dangote-companies-pay-n104-74-billion-in-taxes-in-9-months/