Africa’s richest man, Aliko Dangote, will retire as Chairman of Dangote Sugar Refinery Plc on 16 June 2025, ending a two-decade tenure marked by strategic expansion and market dominance.

The announcement was made in a corporate statement signed by company secretary Temitope Hassan on Wednesday. Dangote, who has chaired the board since 2005, led the company’s transformation into a leading player in Nigeria’s sugar industry and oversaw several key Backwards Integration Projects across Adamawa, Taraba, and Nasarawa States.

“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, Alhaji Aliko Dangote (GCON), effective 16 June 2025,” the statement said

Following a transition process, the Board has appointed Independent Non-Executive Director Arnold Ekpe as the new chairman, also effective from 16 June.

“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 added.

Ekpe, a respected banker and former Group CEO of Ecobank, brings decades of leadership and boardroom experience.

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

The leadership transition means Dangote will play an oversight role in that arm of his business. At the same time, he continues to strengthen its domestic production capacity to reduce Nigeria’s dependence on imported sugar and support national food security goals.