Africa’s richest man and prominent industrialist, Aliko Dangote, will step down as Chairman of the Board of Dangote Sugar Refinery Plc, bringing to a close a transformative 20-year tenure.
The company confirmed in a statement on Wednesday that Dangote’s retirement will take effect on June 16, 2025.
The announcement, signed by Company Secretary Temitope Hassan, emphasized the significance of the leadership transition, which aligns with the company’s corporate governance and succession planning framework.
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Dangote, a founding director of the company, has been instrumental in driving its growth into one of Nigeria’s leading sugar producers. Under his leadership, Dangote Sugar Refinery executed major Backward Integration Projects in Adamawa, Taraba, and Nasarawa States—initiatives that have significantly strengthened the company’s supply chain and enhanced domestic sugar production.
“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 stated.
Throughout his tenure, Dangote was credited with creating long-term shareholder value, reinforcing corporate governance practices, and steering the company through key regulatory and industry shifts.
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Following a thorough selection and transition process, the Board has appointed Arnold Ekpe, an Independent Non-Executive Director, as the incoming Chairman. Ekpe’s appointment also becomes effective on June 16, 2025.
A seasoned executive with a distinguished career in banking and corporate leadership, Ekpe previously held top positions across Africa’s financial sector. His strategic insight, governance expertise, and commitment to stakeholder interests are expected to guide the company through its next phase of growth.
“Aliko Dangote played an instrumental role in shaping the company’s strategy and culture, thereby building a robust foundation for growth and sustainability,” the company said. “We are confident that Arnold Ekpe will continue this legacy and lead the company to new heights.”
Dangote’s retirement marks the end of an era that redefined Nigeria’s sugar industry. With Ekpe now set to take the helm, attention will turn to how the company navigates an increasingly competitive and evolving economic landscape.
