Aliko Dangote, Africa’s wealthiest individual, is officially stepping down from his 20-year tenure as Board Chairman of Dangote Sugar Refinery Plc, effective June 16, 2025. This significant transition marks the end of an era for one of the Dangote Group's key subsidiaries, a move announced in a corporate disclosure signed by the Company Secretary, Temitope Hassan. The retirement is part of a planned board transition, aligning with principles of good corporate governance and succession planning.

During his two decades at the helm, which began in 2005, Alhaji Aliko Dangote has been instrumental in transforming Dangote Sugar Refinery into a market leader within Nigeria's sugar industry. He is widely credited with driving the company’s extensive expansion projects, significantly enhancing shareholder value, and solidifying its corporate governance framework. Notably, under his leadership, the company successfully implemented crucial Backward Integration Projects across Adamawa, Taraba, and Nasarawa states. These initiatives were designed to boost local sugar production, thereby reducing Nigeria's dependence on sugar imports and supporting national food security goals.

Following a rigorous selection and transition process, the Board of Directors has appointed Mr. Arnold Ekpe, an Independent Non-Executive Director, as the new Chairman of Dangote Sugar Refinery Plc, also effective June 16, 2025. Arnold Ekpe is a highly respected and seasoned banker, known for his extensive boardroom and leadership experience across various sectors. He previously served as the Group CEO of Ecobank and held a leadership position at United Bank for Africa. The company has expressed optimism that Ekpe will bring his strategic acumen and vast experience in the financial and other sectors to build upon the robust foundations laid by Dangote.

In addition to Aliko Dangote's retirement, two other non-executive directors, Maryam Bashir and Professor Konyinsola Ajayi, will also step down on the same date. Maryam Bashir chaired the board's risk committee and contributed to strategy and internal controls, while Professor Konyinsola Ajayi led the governance committee, offering legal guidance on major transactions. The board extended its deep appreciation to all retiring directors for their exemplary service and unwavering commitment to the company's growth and excellence.

Beyond the leadership changes at Dangote Sugar Refinery, the broader Dangote Group continues to engage in significant national development projects. The Group is set to fund N900 billion worth of road projects across different states in Nigeria, reinforcing its commitment to infrastructure development. Furthermore, Dangote Sugar Refinery recently unveiled plans to launch a substantial sugar refinery in Ghana. This new project is projected to feature a daily sugarcane crushing capacity of 12,000 tons and irrigation infrastructure spanning 25,000 hectares of farmland, aiming to significantly reduce Ghana's annual sugar import bill, estimated at $162 billion.