THE Federal Government earned more than N900 billion from Dangote Cement in 2025, President Bola Tinubu has disclosed, hinging the development of Nigeria on the vibrancy of the private sector.

Represented by the Vice President, Kashim Shettima, at the launch of the Nigeria Industrial Policy in Abuja yesterday, Tinubu declared that the government has no business in business, deceiving the private sector as the creators of wealth.

“This is how we create jobs. The government has no business being in business The private sector is the creator of wealth. All of you here, we are widely proud of the manufacturers in this country who are here. In spite of all the challenges, we are not unappreciative of your efforts. You are literally generating your own power. I want to assure that the President is fully committed to redefining the meaning and concept of modern leadership. He is determined to drive the transformation of this nation.”

On his part, the Minister of State for Industry, Senator John Owan Enoh said the policy may not be perfect, but it is deliberate, practical, and accountable.

He added: “It does not promise miracles; it commits to method. It does not rely on rhetoric; it relies on structure. It is designed to be measured not by applause in this hall, but by factories that expand, jobs that endure, and confidence that returns”

Speaking at the occasion, President of Dangote Group, Aliko Dangote said a robust protection of local industries and urgent reforms in the power sector are critical pillars for the success of the newly unveiled Nigeria Industrial Policy,

The business mogul, who confirmed the humongous amount paid to the government in taxes, described the government as the biggest shareholder in every business enterprise in Nigeria.

“The government makes more money in our cement business than the budget. Government is number one. We as shareholders collect less than what the government collects,” he stated.

While commending the Federal Government for articulating a clear industrial roadmap, Dangote warned that incentives alone would not guarantee sustainable industrial growth without strategic trade protection measures.

Speaking at the official launch of the policy in Abuja yesterday, Dangote said Nigeria already possesses a large domestic market and policy incentives capable of stimulating private-sector investment.

He added: “The only thing remaining is the protection of industries. Even if you give zero-interest loans and free land with power, without protection, no industry will thrive.”

While stressing the need to protect the local manufacturing sector, Dangote argued that excessive importation undermines domestic production capacity and leads to capital flight and job losses.

He declared that Nigeria should prioritise producing what it consumes while exporting surplus output to other African markets.

Not only protection of local industries, but Dangote maintained that protective tariffs and anti-dumping measures are necessary, especially given the structural disadvantages faced by local manufacturers, including high borrowing costs of 25–30 per cent and infrastructural deficits.

“If you allow imports, you must take into consideration our constraints. You cannot expose local manufacturers to unfair competition where others enjoy cheaper capital, stable electricity and better infrastructure,” he said.

Without a stable national grid, the manufacturing sector will continue to lag.

To tackle the electricity crisis, Dangote urged the Federal Government to convene a national retreat dedicated solely to resolving Nigeria’s power challenges.

He said: “Power means growth. No power, no growth.”

Dangote expressed optimism that the Naira can strengthen to N1,100 in the foreseeable future if import dependence is curtailed and domestic production expands.