Aliko Dangote is stepping down. After two decades leading Dangote Sugar Refinery Plc, the billionaire industrialist will retire as Chairman of the Board on 16 June 2025.Â
His departure is part of a deliberate succession plan, confirmed in a corporate notice signed by the company’s secretary, Temitope Hassan. The company’s leadership transition has been in motion, and now, the date is locked in.
Aliko Dangote has been more than a nameplate on the board. He built this company from scratch into Nigeria’s top sugar producer. His tenure saw massive capital projects roll out across Adamawa, Taraba, and Nasarawa, a long-term bet on local production over imports.Â
These projects were designed to change how Nigeria feeds itself and how the industry runs. For shareholders, his legacy is measurable, a 51% jump in revenue just last year.
The company’s statement reads: “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.”
Arnold Ekpe, a current independent non-executive director, will take over as Chairman on the same date. Ekpe is no stranger to high-stakes boardrooms, he’s the former Group CEO of Ecobank and has served across multiple sectors. The company believes he’s got the range to lead in a changing market.
“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 company said.
Ekpe will be taking the wheel at a time when the sugar industry is facing deep structural change. The federal government is pushing harder on backward integration policies.Â
Local production is being incentivised, and import-heavy models are being challenged. That’s a good thing for companies ready for whatever comes. It also means the next phase requires someone who can navigate financial headwinds, inflationary pressure, and potential regional expansion.
Sources close to the company have noted possible moves into Ghana, where a $162 billion annual sugar import bill is being eyed as an opportunity. That could be part of Ekpe’s early playbook. With his banking background and deep understanding of regional markets, such a move wouldn’t be far-fetched.
For Dangote himself, this is a calculated exit, he’s leaving on a high, handing over a profitable business with a strong balance sheet and clear strategic direction. That’s rare in this environment, and it’s not going unnoticed.
The board acknowledged the moment, adding: “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.”
