An International Business Ideation Specialist, Light Shedrack has alleged that the government is signaling to Dangote that he has already benefited extensively from the system under the previous administration. He identified that the Federal Government is expecting Dangote to reinvest more of his wealth into the economy, rather than continuously seeking concessions and tax holidays.
He stated that the FG believe that bending rules for Dangote could result in significant financial losses. He highlighted the potential consequences, such as a reduction in royalties and taxes paid by international oil companies (IOCs), which could severely impact the government’s ability to finance its operations. He also pointed out the strategic location of Dangote’s refinery in Lagos, noting that it effectively places him on a tax holiday, as he will not be paying taxes to the state government.
He said in an interview with Arise TV, ”The FG is saying if we bend the rules for you (Dangote), we will begin to lose money. We will lose the royalties and the taxes paid to us by these IOCs. And the implication is that there will be challenges, people will be on the street because at that point Government might not have fund to finance Governance. And there will be Total anarchy. I study the body language of this Government vis-a-vis Dangote and his refinery....Read Full Article [Click Here>]
The FG is simply telling Dangote that he has taken so much from the system under Buhari. And that he should get more money and inject it into the system by bringing more money into the economy. You shouldn’t always ask for concessions and tax holidays. And if you look at where he built his refinery, you will discover that he’s not going to be paying taxes to the State. government. So he’s already on tax holiday in Lagos.”
