Aliko Dangote Retires As Chairman Of Dangote Sugar Refinery Plc After 20 Years Of Transformative Leadership.
Billionaire industrialist Aliko Dangote has announced his retirement as Chairman of the Board of Directors of Dangote Sugar Refinery Plc, concluding an illustrious 20-year tenure. The retirement, effective 16 June 2025, was confirmed in a statement released on Wednesday by the company’s secretary, Temitope Hassan, marking the end of an era for one of Nigeria’s leading sugar producers.
Dangote, who assumed the chairmanship in 2005, has been widely credited with steering Dangote Sugar Refinery Plc to its position as a market leader in Nigeria’s sugar industry. His leadership saw the company implement major expansion projects and strengthen its corporate governance framework, cementing its reputation both locally and internationally. Notably, Dangote championed the company’s Backward Integration Projects in Adamawa, Taraba, and Nasarawa States, aimed at boosting local sugar production and reducing Nigeria’s dependence 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. The company expressed deep appreciation for Dangote’s “years of exemplary service and unwavering commitment to excellence.”
Under Dangote’s stewardship, Dangote Sugar Refinery Plc achieved remarkable growth, with its turnover increasing by 51% to N665.6 billion for the year ended 31 December 2024, compared to N441.5 billion in 2023. The company has set ambitious goals for the future, targeting the production of 1.5 million metric tonnes of refined sugar annually and generating over 75,000 employment opportunities within its value chain.
Following a rigorous selection process, the Board has appointed Mr. Arnold Ekpe as the new Chairman, effective 16 June 2025. Ekpe, a seasoned banker and former Group CEO of Ecobank, brings extensive leadership experience in financial services and corporate governance across Africa. The Board expressed confidence in Ekpe’s ability to guide the company into its next phase of growth, stating, “We welcome Mr. Ekpe to his new role and look forward to the next chapter in our company’s journey under his leadership.”
Dangote’s retirement comes alongside the departure of two non-executive directors, Maryam Bashir and Professor Konyinsola Ajayi, also effective 16 June 2025, as part of a planned board transition. The company reiterated its commitment to maintaining high standards of corporate governance and sustainable growth.
Aliko Dangote, Africa’s richest man and founder of the Dangote Group, leaves behind a legacy of innovation and strategic vision at Dangote Sugar Refinery Plc. His contributions have not only transformed the company but also bolstered Nigeria’s efforts towards self-sufficiency in sugar production. As the company moves forward under new leadership, stakeholders and shareholders alike remain optimistic about its continued success.
