Dangote Cement honoured for financial leadership, tax compliance

Dangote Cement Plc emerged as a double honouree at the FMDQ Gold Awards held in Lagos, celebrating the company’s contributions to Nigeria’s financial landscape. Recognised for the Largest Commercial Paper Quotation and the Single Largest Corporate Debt Issue, Dangote Cement’s achievements underscore its substantial impact on the country’s financial markets. Adding to the accolades, the Federal Inland Revenue Service (FIRS) recognised Dangote Cement and its affiliate, Blue Star Shipping, for exemplary tax compliance, underscoring the conglomerate’s dedication to regulatory standards.

The FMDQ Gold Awards—an annual recognition celebrating the strength and resilience of Nigeria’s financial market participants—acknowledged Dangote Cement’s role in fostering market liquidity and operational excellence. The awards not only highlight the company’s dedication to transparency but also underscore its role in strengthening Nigeria’s economy through active market engagement.

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Dangote Industries Ltd also won the “Most Active Corporate in the Foreign Exchange Market” award, demonstrating the firm’s agility in navigating Nigeria’s financial ecosystem.

FIRS similarly acknowledged Dangote Cement for its exemplary tax practices, citing its contributions in the “Biggest Taxpayer” category at its Lagos International Trade Fair Special Day event. Ishola Akingbade, FIRS’s State Administration representative for Lagos Mainland, praised the firm’s efforts in maintaining high levels of tax compliance, which he noted simplifies tax administration processes.

Dr. Titi Fowokan, Head of Tax Compliance at Dangote Industries Ltd, reaffirmed the group’s commitment to upholding best practices. “Dangote as a Group has a Tax Policy that is based on zero tolerance for tax non-compliance,” Fowokan explained, highlighting the firm’s dedication to meeting statutory deadlines and preventing penalties. By adopting a robust governance culture, Dangote Cement has minimised audit risks and reinforced its corporate responsibility to the Nigerian government.