Africa’s richest man and one of Nigeria’s most influential industrialists, Alhaji Aliko Dangote, has officially retired as Chairman of the Board of Directors of Dangote Sugar Refinery Plc, ending a 20-year tenure that played a pivotal role in shaping the company’s growth, structure, and market leadership.
The announcement was made in a corporate disclosure filed with the Nigerian Exchange (NGX) and is set to take effect from June 16, 2025.
Aliko Dangote took the helm of Dangote Sugar in 2005, overseeing its transformation from a domestic sugar refiner into Nigeria’s largest sugar-producing company. Under his leadership, the company not only expanded its refining capacity but also pushed forward with major backward integration projects (BIP) in Nasarawa, Adamawa, and Taraba states—efforts aimed at promoting self-sufficiency in sugar production.
His tenure saw the company listed on the NGX, aggressive expansion into local and West African markets, and consistently strong financial performance, even amidst economic headwinds and regulatory shifts.
Following Dangote’s retirement, the board has announced the appointment of Mr. Arnold Ekpe, a seasoned banker and former Group CEO of Ecobank and United Bank for Africa (UBA), as the new Chairman of the Board.
The company praised Ekpe’s extensive experience in finance, governance, and international business, noting that his leadership will be instrumental in guiding Dangote Sugar into its next phase of development.
“We welcome Mr. Ekpe to his new role and express our deepest gratitude to Alhaji Aliko Dangote for his exceptional leadership, vision, and legacy of excellence over the years,” the company said in a statement.
Dangote’s exit comes at a time when the company is making significant strides in its operations:
- New sugar production facilities are being developed across Nigeria to strengthen the value chain.
- The company reported ₦213.9 billion in revenue for Q1 2025, a 74.3% increase year-on-year, according to recent filings.
- A new sugar refinery project has been announced in Kwame Danso, Ghana, signaling further expansion across West Africa.
Despite economic challenges in Nigeria, Dangote Sugar has remained resilient, maintaining its dominant market share and contributing to job creation and rural development.
Though stepping down from the sugar arm of his business empire, Aliko Dangote remains active in other major sectors. He continues to serve as President/CEO of Dangote Industries Limited, which spans cement, oil refining, and agriculture.
His recent commissioning of the Dangote Refinery in Lagos, one of the largest in Africa, has further solidified his status as a central figure in Nigeria’s industrial landscape.
Aliko Dangote’s departure marks the end of an era but also the beginning of a new chapter for Dangote Sugar. With Arnold Ekpe taking the reins, industry analysts anticipate a continued focus on governance, innovation, and regional expansion.
The Nigerian business community and stakeholders across the continent are watching closely to see how the company evolves under new leadership, building on the solid foundation laid by one of Africa’s most iconic entrepreneurs.
For media inquiries, please contact:
Corporate Communications, Dangote Sugar Refinery Plc
Email: info@dangotesugar.com
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