Africa’s richest man and industrialist, Aliko Dangote, has officially retired as Chairman and Director of Dangote Cement Plc, the company announced on Thursday. His retirement takes effect from July 25, 2025.
According to a statement signed by the Group Chief of Branding and Communications, Anthony Chiejina, Dangote’s decision to step down is to enable him to focus on other major projects under the Dangote Group — particularly the multi-billion dollar Refinery, Petrochemicals, Fertilizer, and Government Relations, all aimed at driving the company’s five-year strategic growth plan.
In place of Dangote, the board has appointed Mr. Emmanuel Ikazoboh, an independent non-executive director, as the new Chairman of the Board of Directors. In addition, Hajiya Mariya Aliko Dangote joins the board, while Prof. Dorothy Ufot has stepped down.
Aliko Dangote, known for transforming Nigeria’s cement industry, built Dangote Cement into Africa’s largest cement producer with a production capacity of 52 million tonnes per annum (Mta), of which 35.25Mta is from Nigeria alone. The figure is expected to rise to 61Mta with new plants in Côte d’Ivoire and Itori, Ogun State, coming on stream this year.
Under his leadership, the company posted record financial results in the first half of 2025, including a 17.7% rise in revenue to ₦2.07 trillion and a 174% increase in profit after tax to ₦520.5 billion. Export volumes also rose by 18.2%, with successful clinker shipments to Ghana and Cameroon.
Dangote’s exit from the board marks the end of an era. His efforts in cement helped drive Nigeria toward self-sufficiency and made Dangote Cement a major exporter in Africa. The Group, under his leadership, also paid ₦402 billion in taxes in 2024 — the highest by any company in Nigeria.
In his acceptance speech, new Chairman Emmanuel Ikazoboh expressed gratitude for the appointment and promised to uphold the company’s legacy of excellence. He outlined plans for cost-cutting, sustainable energy use, and continuous staff development to strengthen the company’s growth and competitiveness.
Ikazoboh, a respected figure in African corporate leadership, has served in top positions, including Group Chairman of Ecobank and Interim Administrator of the Nigerian Stock Exchange.
Dangote’s retirement marks a shift in focus for the billionaire, who now channels more energy into other mega-projects that are expected to boost Nigeria’s economy and industrial capacity in the coming years.
