Aliko Dangote Retires as Dangote Sugar Chairman After 20 Years: Arnold Ekpe Takes Over

After nearly two decades of steering one of Nigeria’s most prominent sugar companies, Africa’s richest man, Aliko Dangote, is officially stepping down as Chairman of Dangote Sugar Refinery Plc. His retirement, which takes effect on June 16, 2025, marks the end of a leadership era defined by visionary growth, bold industrial strides, and a relentless drive for local production.

In a statement released by the company secretary, Temitope Hassan, the board paid glowing tribute to Dangote’s enduring legacy, describing his tenure as “nothing short of transformative.”

“From the very beginning, Alhaji Dangote led with integrity, foresight, and a deep sense of purpose,” the statement read. “He played a defining role in shaping the company’s culture and strategy, laying a strong foundation for sustained success.”

Dangote, who was one of the founding directors of the company, helped chart a course that positioned Dangote Sugar as a dominant force in the sector. Under his watch, the company not only achieved steady growth and shareholder value but also invested heavily in Backward Integration Projects (BIP) across Adamawa, Taraba, and Nasarawa States, an ambitious initiative aimed at reducing Nigeria’s dependence on sugar imports and boosting local production.

Now, as the iconic businessman takes a step back from the boardroom, the company is ushering in a new era with the appointment of Arnold Ekpe as the incoming Chairman. Ekpe, who assumes the role on the same day as Dangote’s retirement, is widely respected for his leadership in Africa’s banking and financial sector, having held top positions in institutions like Ecobank and United Bank for Africa.

“Mr. Ekpe brings to the table a wealth of experience and a deep understanding of corporate governance,” Hassan noted. “His strategic insight and commitment to excellence position him perfectly to build on our existing strengths and guide the company into the future.”

Industry observers are already paying attention to what Ekpe’s leadership could mean for Dangote Sugar Refinery as the company faces new challenges in an evolving economic landscape. His appointment signals continuity, but also a potential shift in strategic focus as the company adapts to changing market dynamics.

But Dangote won’t be the only name leaving the boardroom this June.

Two other distinguished board members, Maryam Bashir and Professor Konyinsola Ajayi (SAN) will also be retiring. Both have been instrumental in strengthening the company’s governance framework and driving key decisions behind the scenes.

Bashir, a finance and investment strategist with a strong track record in risk management, once chaired the Board Risk Management & Assurance Committee and served on the Statutory Audit Committee. Her tenure saw significant contributions to the company’s growth and internal systems.

Professor Ajayi, a legal titan and Senior Advocate of Nigeria, brought his expertise in energy, infrastructure, and financial law to bear on the company’s most complex legal and governance matters. As Chairman of the Board Governance Committee, he helped steer critical transactions and provided invaluable counsel.

The board has expressed profound gratitude to both retiring directors, lauding their professionalism, integrity, and dedication to the company’s success.