No more dangote sugars- Dangote steps down

Africa’s richest man, Aliko Dangote, has stepped down as Chairman of Dangote Sugar Refinery Plc.

His exit ends a two-decade leadership that transformed the company into Nigeria’s top player in the sugar industry.

Dangote will officially retire from the board on June 16, 2025.

The company’s secretary, Temitope Hassan, disclosed this in a statement released on Wednesday.

Dangote took over the company’s leadership in 2005 and drove massive growth across all operational sectors.

He led key expansion projects and strengthened the company’s governance culture during his time in office.

The statement said Dangote Sugar followed best corporate governance principles in announcing the retirement.

It also highlighted a deliberate succession plan that paved the way for smooth leadership transition.

Dangote championed the company’s backward integration programme across three northern states.

The projects spanned Adamawa, Taraba, and Nasarawa states to boost local sugar production.

These initiatives aimed to reduce Nigeria’s dependence on imported refined sugar.

Under his watch, the company scaled up production and capacity across its refineries.

He led aggressive investment into local agriculture to support sugarcane cultivation and processing.

The Board described his exit as part of long-term strategic planning.

They praised his contribution to building one of Nigeria’s most successful industrial ventures.

The company has now appointed Arnold Ekpe as the new Board Chairman.

Ekpe will assume office immediately after Dangote’s departure on June 16, 2025.

The Board described Ekpe as an experienced financial expert with a strong track record.

He previously served as the Group Chief Executive Officer of Ecobank Transnational Incorporated.

Ekpe also brings broad experience from various boardroom and executive roles across sectors.

The Board expressed confidence in his ability to steer the company’s future.

They noted that his leadership would strengthen continuity and innovation.

“We welcome Mr. Ekpe into his new role,” the statement said.

They promised full support for Ekpe to deliver on the company’s long-term vision.

They also thanked Dangote for his outstanding service and relentless drive.

The Board said Dangote maintained a deep commitment to excellence throughout his tenure.

Shareholders, industry analysts, and investors have started reacting to the leadership change.

Some expressed optimism that the company will maintain its growth and impact.

Others believe the transition signals a new era for Nigerian industrial succession.

Dangote remains the President of Dangote Group, which includes cement and oil businesses.

His role in Nigeria’s industrial growth remains unmatched in the private sector.

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