West Africa’s leading indigenous cement makers, Dangote Cement Plc, has been adjudged the highest corporate income taxpayer and biggest employer of labour in the country for the year 2020.
This is according a performance analyses of 100 top elite corporate bodies on the Nigeria Exchange carried out by Frontline business magazine, ‘Next Money.’
Dangote Cement was ranked the most capitalised company in the country with N4,173.22 billion.
Publisher of Next Money, Mr Ray Echebiri said the performance index analysis of companies listed on the Exchange was carried out with a view to establishing the best performing ones among the over 150 of them.
Despite the COVID-19 pandemic in 2020, the cement giant reported full-year revenue of N1 trillion, the highest it has ever recorded since it was privatised almost 20 years ago.
The cement manufacturer came first among top 100 elite companies listed on the Nigeria Exchange (NGX) posting into the coffers of the federal government a princely sum of N97.24 billion in the year, while MTN Communication Nigeria Plc paid N93.6 billion and Guaranty Trust Bank (GTB) now known as Guaranty Trust Holding Company (GTCO) came third with an income tax of N36.66billion.