Dangote to retire from Sugar business after 20 years

….Arnold Ekpe takes over as chairman

After two decades of steering Dangote Sugar Refinery Plc to industry leadership, Africa’s richest man, Aliko Dangote, will formally retire as Chairman of the company’s Board of Directors effective June 16, 2025.

The announcement marks the end of an era for the sugar subsidiary of the Dangote Group and signals a carefully managed transition to new leadership.

The company’s secretary, Temitope Hassan, disclosed the development in a statement on Wednesday, describing the move as part of ongoing efforts to strengthen corporate governance and uphold succession planning principles.

Dangote has served as board chairman since 2005, overseeing the company’s transformation into a dominant player in Nigeria’s sugar industry.

His tenure was marked by ambitious expansion projects and the execution of Backward Integration Initiatives across Adamawa, Taraba, and Nasarawa States — all aimed at boosting domestic sugar production and reducing Nigeria’s dependency on imports.

“Alhaji Aliko Dangote’s retirement is a reflection of our commitment to sound corporate governance and structured succession,” the company said.

In line with the leadership transition, the Board has appointed Mr. Arnold Ekpe, an Independent Non-Executive Director and veteran banker, as the new Chairman of Dangote Sugar Refinery Plc. Ekpe’s appointment also takes effect from June 16, 2025.

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Ekpe brings a wealth of leadership experience to the role, having previously served as Group CEO of Ecobank and held boardroom positions across multiple industries.

“We welcome Mr. Ekpe to his new role and look forward to the next chapter in our company’s journey under his leadership,” the statement read. “We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.”

Dangote’s exit from the sugar board is seen as a symbolic shift within the Dangote Group, which continues to expand its footprint in multiple sectors, including cement, oil refining, and food processing.