After two decades at the helm, Africa’s richest man, Aliko Dangote, is stepping down as Chairman of Dangote Sugar Refinery Plc. His retirement will take effect from June 16, 2025, according to an official statement released on Wednesday by the company secretary, Temitope Hassan.
Dangote, who assumed leadership of the sugar company in 2005, is widely credited for transforming it into a major player in Nigeria’s sugar industry. Under his watch, Dangote Sugar Refinery grew in size and scope, executing large-scale expansion projects and embracing better corporate governance standards.
“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’s statement read.
The company highlighted several achievements under Dangote’s leadership, particularly the execution of Backward Integration Projects in Adamawa, Taraba, and Nasarawa States. These projects are aimed at boosting local sugar production, creating jobs, and reducing Nigeria’s dependence on imported sugar.
As part of the leadership transition, the Board of Dangote Sugar has appointed Mr. Arnold Ekpe, an Independent Non-Executive Director, as the new Chairman. Ekpe’s appointment also takes effect from June 16, 2025.
“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,” the statement said.
Arnold Ekpe is well-known in Nigeria’s financial and business circles. He is a former Group CEO of Ecobank and has held several high-level roles across the banking and corporate sectors. His wealth of experience is expected to help drive the company forward into a new era.
The Board expressed its appreciation for Dangote’s years of service and dedication to the company.
“We welcome Mr. Ekpe to his new role and look forward to the next chapter in our Company’s journey under his leadership. We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence,” the statement concluded.
Dangote’s retirement marks a significant shift for one of Nigeria’s most prominent companies. While he will no longer serve as chairman, he remains a key figure in the nation’s business landscape through the wider Dangote Group, which has interests in cement, oil refining, and other sectors.
