Aliko Dangote, Africa’s richest person, has officially resigned as Chairman of Dangote Cement Plc, the company announced in a corporate filing with the Nigerian Exchange Group on Friday, July 25, 2025. The move allows the industrialist to concentrate on his $20 billion refinery project and other strategic ventures.
The board has appointed Emmanuel Ikazoboh, former Group Chairman of Ecobank Transnational Inc., as the new Chairman. In his acceptance statement released by Dangote Cement’s corporate communications team, Ikazoboh said: “I am honored to take this role and will build on the strong foundation laid by Aliko Dangote. Our focus remains on operational excellence and sustainable growth across Africa.”
Dangote’s departure marks the end of an era during which he transformed the company into Africa’s largest cement producer, with current production capacity of 52 million metric tons annually across the continent. Company records show Dangote Cement achieved record revenues of N2.5 trillion in 2024 under his leadership.
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Anthony Chiejina, Group Chief Branding and Communications Officer, confirmed in an official statement: “Mr. Dangote remains committed to the Group’s vision through his ongoing oversight of our refinery, petrochemical and fertilizer projects. This transition follows our succession planning framework.”
The newly operational Dangote Refinery, with capacity to process 650,000 barrels of crude oil per day, becomes Dangote’s primary focus. Energy analysts project the facility could save Nigeria up to $10 billion annually in foreign exchange currently spent on fuel imports.
The board also announced the appointment of Hajiya Mariya Aliko Dangote as non-executive director and the retirement of Prof. Dorothy Ufot, effective immediately.
One Response
Kudos, to a man who chose to take risk to invest in his own country instead of abroad where he would have probably made more profits…