Faith Nyasuguta
Africa’s richest man, Aliko Dangote, is set to step down as Chairman of Dangote Sugar Refinery Plc on June 16, 2025, bringing to an end over 20 years of leadership at one of Nigeria’s most successful and influential food companies. The announcement was made in a statement released by the company’s secretary, Temitope Hassan, who emphasized that the move aligns with principles of good corporate governance and succession planning.
Dangote, who founded the sugar company in 2005 as part of the wider Dangote Group, has been the driving force behind its growth into a dominant player in the Nigerian and wider West African food industry.
Under Dangote’s stewardship, the company not only expanded its domestic footprint but also made significant inroads across Africa. Among his signature achievements were ambitious Backward Integration Projects in Adamawa, Taraba, and Nasarawa states, aimed at boosting local sugar production and cutting the country’s reliance on imported sugar.
These projects helped strengthen Nigeria’s agricultural sector and support rural development, while also aligning with the government’s goal to enhance food security. In recognition of the need for a seamless transition, the Board has appointed Arnold Ekpe as the incoming Chairman.
Ekpe, a highly respected figure in African business, has previously held executive roles at Ecobank and United Bank for Africa. His wealth of experience in finance and industry is seen as key to sustaining the company’s momentum as it enters a new chapter.
The board expressed gratitude to Dangote for his decades of exceptional service and unwavering commitment to excellence, while voicing confidence in Ekpe’s ability to steer the company forward. The announcement comes at a time when Dangote Sugar is riding a wave of regional expansion.
Recently, the company launched a new sugar refinery in Ghana’s Kwame-Danso in the Bono East Region, a $162 million investment. The facility sits on a 25,000-hectare irrigated estate and is capable of processing up to 12,000 tons of sugarcane per day. This bold move is expected to tap into Ghana’s sizable annual sugar import market, while aligning with the country’s “One District, One Factory” industrialization initiative.
Back in Nigeria, the company reported strong performance in the first quarter of 2025. Revenue rose 74.3% year-on-year to $133 million, and net losses narrowed significantly to $14.7 million, down from the previous year’s $76 million.
For the 2024 fiscal year, Dangote Sugar posted a 51% surge in turnover, reaching $414 million, driven by strategic expansions and improved operating efficiencies. Looking ahead, the company plans to scale up production to 1.5 million tons of sugar annually and support around 75,000 jobs across its operations.
Dangote’s retirement is not just a leadership change, it is the closing of a visionary chapter that redefined Nigeria’s food industry. With Arnold Ekpe at the helm, the legacy continues, rooted in ambition, innovation, and the belief that Africa can feed and power itself through strategic industrial investment.
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