President of Dangote Group, Aliko Dangote, has blamed high taxes and regulatory burdens in Nigeria as the reasons why cement produced by his company is more expensive in the country than outside.
Explaining the price differential between exported cement, he said exporting permits his company to avoid a variety of taxes that would dramatically increase production expenses at home.
"When you look at my invoice, the cement I export is cheaper than the one I'm selling domestically, because that's how exports work. In export I'm saving a lot of money, I'm not paying 30 income tax, I'm not paying 2, education, I'm not paying 1 health, I'm not paying 7.5 VAT, and I'm not paying 10 withholding tax."
