President of Dangote Industries Limited, Alhaji Aliko Dangote, has officially retired as Chairman of Dangote Sugar Refinery Plc, marking the end of an eventful 20-year tenure.
This significant change takes effect on June 16, 2025.
During his time at the helm, Dangote played a pivotal role in shaping the company’s growth, solidifying its market leadership, and ensuring steady shareholder value.
Under Dangote’s leadership, the company implemented major projects to boost domestic sugar production, including Backward Integration Projects in Adamawa, Taraba, and Nasarawa states which strengthened the company’s supply chain and contributed to its success.
The company’s statement to the Nigerian Exchange Group acknowledged Dangote’s immense contribution, highlighting his instrumental role in shaping the company’s strategy and culture.
His leadership built a robust foundation for growth and sustenance, cementing Dangote Sugar Refinery’s position as a major player in Nigeria’s sugar industry.
Dangote was also said to have played an instrumental role in shaping the company’s strategy and culture thereby building a robust foundation for growth and sustenance.
A new era begins: Arnold Ekpe takes the helm
Following a thorough selection process, the Board of Dangote Sugar Refinery Plc has appointed Arnold Ekpe, a seasoned banking executive, as the company’s new chairman.
Ekpe brings extensive leadership experience, a deep understanding of corporate governance, and a strategic vision to drive the company’s next phase of growth. As an independent non-executive director, he is well-positioned to lead the company to further success.
A statement by the Company Secretary/Legal Adviser, Temitope Hassan, said, “Mr Ekpe brings with him a wealth of experience, having held senior leadership roles in the banking sector and other key industries. His strategic acumen, deep understanding of corporate governance, and commitment to stakeholder value make him well-positioned to lead the Board as we continue to build on our strong foundations and pursue sustainable growth.
“We welcome Mr Ekpe to his new role and look forward to the next chapter in our Company’s journey under his leadership. We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.
The company’s full-year revenue climbed 50.8% YoY to N665.69 billion, primarily driven by higher sales of refined sugar.
It also reported a pre-tax loss of N270.894 billion for the financial year ended December 31, 2024, marking a 148.7% year-on-year (YoY) increase from 2023, despite a significant rise in revenue.
However, efforts have been focused on improving the backward integration efforts towards reducing exposures to foreign exchange losses.
Chief Executive Officer of Dangote Sugar, Ravindra Singhvi, once said: “In line with the core objective of the National Sugar Master Plan which is for Nigeria to attain self-sufficiency in sugar production, Dangote Sugar is working on enhancing its existing refinery operations in Numan, Adamawa State, as well as developing its greenfield sites at the Nasarawa Sugar Company Project, among other sites. The Company intends to achieve 1.5MT annually from locally grown sugarcane.”
