Aliko Dangote, Africa’s richest man, is stepping down as Chairman of the Board of Dangote Sugar Refinery Plc, a company worth of over $300m (N473.73bn), after two decades at the helm of leadership.
His retirement, which takes effect from June 16, 2025, marks the end of a 20-year leadership era during which he transformed the company into a dominant force in Nigeria’s sugar industry.
The announcement was made in a statement signed by the company’s secretary, Temitope Hassan, on Wednesday.
Dangote took on the chairman role in 2005 and is widely credited with driving the company’s expansion and strengthening its governance structure.
During his tenure, Dangote Sugar initiated major Backward Integration Projects across Adamawa, Taraba, and Nasarawa States, aimed at boosting local sugar production and reducing Nigeria’s reliance on imports.
“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 statement read.
Dangote Sugar is one of the most successful companies within billionaire Aliko Dangote’s conglomerate in Africa, which also includes Dangote Cement and, more recently, the Dangote Refinery and Petrochemical Plant.
Recently, Dangote revealed plans to shift his focus toward his $20 billion refinery project, which he aims to list on the Nigerian Stock Exchange by the end of 2025.
However, this was not mentioned in the company’s official press statement as the reason for his retirement as chairman.
During his tenure, Dangote Sugar became the leading brand in the industry, replacing imported products such as St. Louis Sugar, and helped make Nigeria a net exporter of sugar for the first time in Africa.
To succeed him, the Board has appointed Arnold Ekpe, an Independent Non-Executive Director, as the new chairman.
“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. effective 16th June 2025,” the statement added.
Ekpe, a veteran banker and former Group CEO of Ecobank, brings to the role a wealth of boardroom experience and leadership across industries.
