Africa’s richest man and one of Nigeria’s most influential business leaders, Aliko Dangote, has officially announced his retirement as Chairman of Dangote Sugar Refinery Plc, effective June 16, 2025. This significant development marks the end of a remarkable 20-year era, during which Dangote transformed the company into a powerhouse within Nigeria’s sugar industry and a leading name in Africa’s food sector.
The announcement, made in an official statement released on Wednesday, June 11, 2025, emphasized that Dangote’s retirement aligns with the company’s principles of good corporate governance and succession planning. The statement highlighted Dangote’s “years of exemplary service and unwavering commitment to excellence,” noting that his leadership has been instrumental in shaping the company’s vision, strategy, and culture.
During his two decades at the helm, Dangote oversaw the company’s rapid expansion and played a pivotal role in driving major backward integration projects in Adamawa, Taraba, and Nasarawa States. These initiatives were designed to strengthen the company’s supply chain, boost domestic sugar production, and reduce Nigeria’s reliance on sugar imports. Under his guidance, Dangote Sugar Refinery not only achieved significant market dominance but also became a model for corporate governance and sustainable growth in Nigeria’s manufacturing sector.
The company’s board expressed deep appreciation for Dangote’s leadership, stating, “We express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.” The statement also reassured stakeholders of a smooth transition, thanks to a well-structured succession plan.
To ensure continuity and sustained growth, Dangote Sugar Refinery Plc has appointed Arnold Ekpe as the new Chairman, effective June 16, 2025. Ekpe, a highly respected banker and business executive, brings over three decades of experience in the African financial sector. He is best known for his tenure as Group CEO of Ecobank Transnational Incorporated, where he led the bank’s pan-African expansion and successfully navigated the global financial crisis of 2008. Ekpe’s impressive resume also includes leadership roles at United Bank for Africa (UBA), Citibank Nigeria, and African Capital Alliance.
Ekpe has served as an Independent Non-Executive Director at Dangote Sugar Refinery since 2024, giving him valuable insight into the company’s operations and strategic direction. The board expressed confidence in Ekpe’s ability to build on Dangote’s legacy, citing his “strategic acumen, deep understanding of corporate governance, and commitment to stakeholder value.”
The leadership change comes at a time when Dangote Sugar Refinery is reporting strong financial performance, including a 74.3% year-on-year revenue increase in Q1 2025. The company is also expanding its operations in Nigeria and West Africa, with ongoing projects aimed at increasing output and creating more jobs.
In addition to Dangote’s retirement, the company announced that two other directors, Maryam Bashir and Konyinsola Ajayi, will also step down from the board on June 16, 2025, after years of dedicated service.
As Aliko Dangote steps down, the business community and stakeholders are watching closely to see how Arnold Ekpe will steer Dangote Sugar Refinery through its next phase of growth. With a strong foundation and a clear vision for the future, the company appears well-positioned for continued success in Nigeria’s dynamic manufacturing landscape.
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