After two decades at the helm, Africa’s richest man and industrialist, Alhaji Aliko Dangote, is stepping down as Chairman of Dangote Sugar Refinery Plc, marking the end of a transformational leadership era that reshaped Nigeria’s sugar industry. His retirement will take effect on June 16, 2025.
The announcement was made in a corporate disclosure signed by the Company Secretary, Temitope Hassan, who described the decision as part of the company’s commitment to good corporate governance and succession planning.
“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, Alhaji Aliko Dangote (GCON), effective June 16, 2025,” the statement read.
Dangote, a founding director and visionary behind the sugar refining business, has been instrumental in the company’s growth into one of Nigeria’s leading sugar producers.
Under his stewardship, Dangote Sugar executed major Backward Integration Projects in Adamawa, Taraba, and Nasarawa States, aimed at strengthening local production capacity and reducing reliance on sugar imports.
The company credited Dangote with shaping its strategic direction, entrenching strong corporate values, and delivering consistent shareholder value over the years.
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“He also played an instrumental role in shaping the company’s strategy and culture, thereby building a robust foundation for growth and sustenance,” the statement added.
To lead the company into its next chapter, the Board has appointed Mr. Arnold Ekpe, an Independent Non-Executive Director, as the new Chairman effective June 16, 2025.
Ekpe is a respected figure in the financial sector, best known for his leadership at Ecobank Transnational Incorporated, where he served as Group CEO.
He brings with him a wealth of experience in corporate governance, strategy, and stakeholder management, which analysts believe will be key to steering Dangote Sugar through Nigeria’s evolving economic and regulatory environment.
Dangote’s exit signals a historic transition for the sugar giant, which under his watch became a dominant force in the local manufacturing sector.
His leadership not only positioned the company as a market leader but also contributed significantly to Nigeria’s drive for industrialization and food security.
As the baton passes to Arnold Ekpe, stakeholders will be watching closely to assess how the new leadership sustains and expands the legacy of one of Nigeria’s most successful corporate enterprises.