Dangote urges private sector players to commit one percent of all profits to fund health
President of Dangote Industries Limited and Africa’s biggest philanthropist, Aliko Dangote, has urged all operators in the private sector to commit one per cent of their profits to fund the health sector challenges in Nigeria, to enable the country tackle crisis like the coronavirus pandemic successfully.
Dangote emphasised that such an allocation, which would be separate from the corporate tax usually paid to the government, would improve needed funding to boost the nation’s ailing health sector, as Nigeria continues to grapple with the effects of the COVID-19 pandemic.
The renowned entrepreneur made these suggestions while responding to questions posed to him by a moderator Francine Lacqua during the virtual Bloomberg New Economic Forum (NEF), at a session titled, “Cross-Sector Mobilisation in Times of Crisis: Public Health Perspective.”
Other speakers alongside Dangote, who made their remarks at the Bloomberg NEF session hosted by the Dangote Group included, Founder and Chief Executive of Flagship Pioneering and Co-founder and Chairman of Moderna, Dr. Noubar Afeyan, and Co-founder and Chief Strategist at Partners in Health Care, Chair of the Department of Global Health and Social Medicine at Harvard Medical School, USA, Dr. Paul Farmer.
Responding to a question from Lacqua on if funding was one of the main barriers to actually dealing with health crisis effectively, Dangote replied, “Yes, I agree with you. It is more to do with funding. Like what we are doing in Nigeria as a foundation (Aliko Dangote Foundation), we are trying to sponsor a bill to our Congress where we want them to impose a tax. This is a separate tax, not a corporate tax, of maybe about one per cent of all our profits, in the private sector, so that they will fund health.