Nigerian Billionaire, Aliko Dangote, Retires And Appoints New Chairman

• Aliko Dangote has officially ended a 20-year era as board chairman in one of the Dangote Group's subsidiaries
• Dangote will be stepping aside and handing over the reins to a renowned former banker who will now lead the next growth phase for the company
• Meanwhile, Dangote Group is set to fund N900 billion worth of road projects across different states in Nigeria

Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.

Africa’s richest man, Aliko Dangote, has officially retired from the Board of Directors of the Dangote Sugar Refinery Plc.

This move ends a two-decade tenure as Chairman of the board, as Dangote officially hands over the reins to his successor.

Dangote Sugar Refinery announced this change in a statement signed by the Company Secretary, Temitope Hassan.

The retirement takes effect on June 16, 2025.

Dangote appoints successor as he retires from board

As a founding member and director of the board of Dangote Sugar Refinery, the industrialist has driven the company’s expansion, returned value to shareholders, and solidified the corporate governance framework.

The statement was filed as a corporate disclosure with the Nigerian Exchange. It read in part:

“In line with the principles of good corporate governance and succession planning, Dangote Sugar Refinery Plc hereby announces the retirement of our esteemed Chairman of the Board of Directors of the Company, Alhaji Aliko Dangote (GCON), effective June 16, 2025.”

The company acknowledged Dangote’s efforts in driving backward integration projects in Taraba, Nasarawa, and Adamawa states, as well as the role he played in shaping the company’s strategy and culture.

End of an era as banker succeeds Dangote as chairman

To replace Aliko Dangote, the board has appointed an Independent Non-Executive Director, Arnold Ekpe, as the new board chairman.

The statement read:

“Following a rigorous selection and transition process, the Board is pleased to announce the appointment of Mr. Arnold Ekpe, Independent Non-Executive Director as the new Chairman of Dangote Sugar Refinery Plc. effective 16th June 2025.”

Arnold Ekpe is a renowned banker and is expected to bring his extensive experience in the financial and other sectors to bear in the role.

The company welcomed Ekpe into the role and expressed optimism that he would bring his strategic acumen to build on the solid foundations already laid.

This is the end of a 20-year era, and analysts will be watching Ekpe’s every move during this transition as he takes over from Aliko Dangote.

Note that the company recently grew revenues by 51% and declared mouthwatering dividends for shareholders.

Dangote to launch sugar refinery in Ghana

Dangote Sugar Refinery recently announced plans to launch a massive sugar refinery in a neighbouring country, Ghana.

The new project is projected to help cut Ghana’s sugar import bill, estimated at $162 billion annually.

Dangote said the project would feature a daily sugarcane crushing capacity of 12,000 tons, irrigation infrastructure of 25,000 hectares of farmland.

Dangote to fund N900 billion road projects

In related news, Legit.ng reported that the President of the Dangote Group, Aliko Dangote, recently played host to President Bola Tinubu at the mega refinery in Lagos State.

Dangote has dropped hints from his conversation with the president that a major industry shakeup is underway.

He also shared insights into upcoming road projects to be funded by the refinery and how they will benefit Nigerians in different states.

Source: Legit.ng