Companies associated with Nigerian billionaire Aliko Dangote paid a combined N104.74 billion in taxes during the nine months ended September 30, 2026, according to figures disclosed in their financial statements.
The total represents a 15.5% decline from the N123.97 billion reported in the corresponding period of 2025, reflecting lower cash tax payments by Dangote Cement despite an increase recorded by NASCON Allied Industries.
A review of the companies' cash flow statements shows Dangote Cement accounted for the largest share at N97.74 billion, or approximately 93.3% of the combined total. NASCON Allied Industries followed with N7 billion, representing the remaining 6.7%.
The analysis covers Dangote Cement, Dangote Sugar Refinery, NASCON Allied Industries and Dangote Petroleum Refinery. The refinery and Dangote Sugar were excluded from the aggregate because tax payment figures were not available for the nine-month period in 2026.
The figures represent actual cash tax payments reported in the companies' cash flow statements, rather than tax expenses recognised in their income statements.
Dangote Cement's N97.74 billion in cash tax payments marked a 15.3% decline from the N115.40 billion paid during the same period of 2025. Yet the company's reported tax expense climbed sharply from N297.71 billion in 2025 to N497.71 billion in 2026. The divergence illustrates the gap between tax obligations recognised in financial reporting and the cash amounts actually settled within a given accounting period. Tax expenses can include current and deferred tax charges, while cash tax payments may cover amounts owed from earlier financial years.
NASCON Allied Industries recorded a different trend, with cash tax payments rising 34.7% to N7 billion from N5.20 billion a year earlier, an increase of approximately N1.80 billion. Its tax expense also increased from N12.35 billion to N14.78 billion over the period. The higher NASCON payments partly offset the decline at Dangote Cement, though not enough to reverse the overall reduction in combined cash tax payments.
Dangote Sugar Refinery reported a tax expense of N3.93 billion, more than double the N1.87 billion recorded in the corresponding period of 2025. The company disclosed N3.38 billion in cash tax payments for the first nine months of 2025, but no comparable 2026 figure was available. Dangote Petroleum Refinery recorded a tax expense of N392.84 billion for the nine-month period in 2026.
