Aliko Dangote is stepping down as chairman of Dangote Sugar Refinery Plc, ending a transformative 20-year leadership era.
His June 16 retirement follows decades of driving growth, local production, and industrial expansion across Nigeria’s competitive sugar market.
After two decades at the helm, Aliko Dangote is stepping down as chairman of Dangote Sugar Refinery Plc, marking the end of an era for one of Nigeria’s leading manufacturing giants. His retirement will officially take effect on June 16, 2025, according to a statement signed by Company Secretary Temitope Hassan on Wednesday.
Dangote, who assumed the role in 2005, is credited with transforming the sugar arm of the Dangote Group into a dominant force in Nigeria’s sugar market. Under his watch, the company not only grew its market share but also made notable strides in local production, operational expansion, and corporate governance.
“In line with best practices in corporate governance and succession planning, Dangote Sugar Refinery Plc announces the retirement of our highly esteemed Chairman of the Board of Directors, Alhaji Aliko Dangote, GCON, effective June 16, 2025,” the company’s statement read.
Throughout his tenure, Dangote oversaw strategic expansion efforts, particularly through the company’s backwards integration initiative. These projects, located in Adamawa, Taraba, and Nasarawa States, aimed to increase domestic sugar production and reduce the country’s reliance on sugar imports, one of Nigeria’s key industrialization goals.
The board used the opportunity to announce Mr. Arnold Ekpe as the incoming chairman. Ekpe, an Independent Non-Executive Director, will officially assume the new leadership position on the same day Dangote’s retirement takes effect.
“Following a thorough selection and transition process, the Board is pleased to confirm the appointment of Mr Arnold Ekpe as the new Chairman of Dangote Sugar Refinery Plc, effective June 16, 2025,” the statement continued.
Arnold Ekpe brings a wealth of experience to the role. Widely respected in financial circles, Ekpe is best known for his role as the former Group CEO of Ecobank, where he led several pan-African initiatives and established a reputation for corporate innovation and effective leadership.
“Mr. Ekpe is a seasoned banker with vast boardroom and cross-sectoral experience. His leadership will be crucial as we navigate the next phase of growth and innovation at Dangote Sugar,” the board added.
The announcement concluded with heartfelt commendation for Dangote, whose legacy within the company is described as “exemplary.” The board thanked him for his outstanding leadership, unwavering dedication, and long-standing service that positioned the company as an industry leader and a key player in Nigeria’s industrial ecosystem.
This retirement signals a pivotal transition for the company, as it aligns its leadership structure with global governance standards while preparing for its next growth chapter. Dangote’s departure, though expected as part of the company’s succession strategy, is sure to leave a significant imprint, not just on the organization, but on Nigeria’s business landscape as a whole.
Industry watchers and shareholders will now be keenly observing how Arnold Ekpe steers the company’s future. With his impressive track record in financial services and corporate governance, many are optimistic that he will uphold the company’s core values while ushering in new strategies for sustainability and profitability.
Aliko Dangote, Africa’s richest man, remains deeply involved in several other ventures under the Dangote Group umbrella, including cement, salt, and petroleum refining. His retirement from the sugar refinery’s board does not signify a full exit from the business world but rather a strategic handover in one of his many corporate domains.
