Africa’s richest man, Aliko Dangote, will step down as Chairman of Dangote Sugar Refinery Plc on June 16, 2025, ending his 20-year tenure at the helm of one of Nigeria’s most profitable food companies.
The announcement was made in a statement released Wednesday and signed by the company secretary, Temitope Hassan.
“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 said.
Dangote founded the company in 2005 as a key subsidiary of the Dangote Group and oversaw its rise to dominance in Nigeria’s food industry.
Under his leadership, the company expanded significantly, launching large-scale Backward Integration Projects in Adamawa, Taraba, and Nasarawa States to boost local sugar production and reduce reliance on imports.
To ensure a smooth leadership transition, the Board has appointed Arnold Ekpe, an independent non-executive director, to succeed Dangote as chairman.
Ekpe has held executive positions in several major African banking and industrial firms.
Don’t Miss This: Nigeria’s Billionaire Titan Dangote Promises Victory Over Oil Sector Saboteurs
“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 said.
“We welcome Mr. Ekpe to his new role and look forward to the next chapter in our Company’s journey under his leadership. We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.”
Dangote Sugar has recently expanded its footprint in West Africa, opening a new refinery in Kwame-Danso, Ghana’s Bono East Region.
The facility can crush 12,000 tons of sugarcane per day on a 25,000-hectare irrigated plantation.
The move is aimed at tapping into Ghana’s $162 million annual sugar import market and supports the country’s “One District, One Factory” policy.
Financially, the company reported strong results in the first quarter ending March 31, 2025.
Revenue rose 74.3% year-on-year to ₦213.9 billion ($133 million), while net loss narrowed to ₦23.6 billion ($14.7 million) from ₦122.7 billion the previous year, indicating better operational efficiency and sustained demand.
For the full year 2024, turnover climbed 51% to ₦665.6 billion. The company projects production will reach 1.5 million tons and aims to generate roughly 75,000 jobs.
Don’t Miss This: Dangote Invests $400 Million in Ethiopian Cement Plant Expansion
