Aliko Dangote Exits Dangote Cement for Refinery, Petrochemicals

Aliko Dangote retires from Dangote Cement, Ikazoboh steps in as new chairman — Daily Nigerian

Aliko Dangote, the billionaire founder of Dangote Cement Plc and Africa’s wealthiest industrialist, will step down as chairman and director of the company’s board effective July 25, 2025, marking a pivotal transition for the continent’s largest cement producer. His departure, announced by the Lagos-based firm, aims to free his focus on expanding ventures in refining, petrochemicals, and fertilizer production, alongside government relations strategies tied to the company’s five-year growth plan.

Dangote Cement’s board confirmed Emmanuel Ikazoboh, an independent non-executive director and former Ecobank Transnational chairman, as its new chairman. The reshuffle also saw Mariya Aliko Dangote, the billionaire’s daughter, appointed to the board, replacing outgoing member Dorothy Ufot.

A statement by Dangote Group’s spokesperson, Anthony Chiejina, hailed Dangote’s tenure as transformative for Africa’s industrial landscape. Under his leadership, the company grew into Sub-Saharan Africa’s top cement and clinker exporter, with current production capacity reaching 52 million metric tons annually (Mta) across 10 African countries. Two new plants in Côte d’Ivoire and Nigeria’s Itori region, set for completion this year, will boost total capacity to 61 Mta.

Financial results underscore Dangote’s operational legacy. Unaudited figures for the first half of 2025 reveal group revenue climbed 17.7% year-on-year to ₦2.07 trillion ($1.65 billion), while earnings before interest, taxes, depreciation, and amortization (EBITDA) surged 41.8% to ₦944.9 billion ($754 million). Nigerian operations alone saw EBITDA spike 82.4%, with pre-tax profits more than doubling to ₦730 billion ($582 million). Export volumes from Nigeria rose 18.2%, driven by shipments to Ghana and Cameroon.

Chiejina emphasized Dangote’s broader socioeconomic impact, citing the creation of millions of jobs, infrastructure development, and a record ₦402 billion ($321 million) in taxes paid by group subsidiaries in 2024. “His vision proved Africa can lead in global industry,” the spokesman noted, highlighting the shift from cement importer to self-sufficiency across the continent.

Ikazoboh, in his inaugural address, pledged to prioritize sustainable growth, cost efficiency, and innovation. The seasoned financier, who previously led reforms at the Nigerian Stock Exchange as an SEC-appointed administrator, outlined plans to reduce operational costs, adopt renewable energy solutions, and invest in workforce development. “Dangote Cement is a beacon of African enterprise,” he stated, vowing to uphold its competitive edge amid inflationary and environmental challenges.

The leadership transition signals a strategic realignment for the industrial giant, which accounts for over 60% of Nigeria’s cement market. Analysts anticipate sustained expansion under Ikazoboh, whose cross-sector expertise aligns with Dangote Cement’s ambitions in sustainability and regional trade. As Africa’s industrial sector navigates global economic headwinds, the company’s next chapter will test its ability to maintain dominance while advancing greener, more inclusive growth.

Tags:

Recent News

Nigeria losing $15bn annually to broadband gap – FibreOne — Daily Nigerian

Nigeria’s $15B Annual Cost: Bridging the Broadband Gap

Moroccan humanitarian agency provides support for Palestinian farmers

Moroccan Aid Empowers Palestinian Farmers in Jerusalem with Agricultural Support

Gov. Yusuf orders probe into Commissioner’s alleged involvement in drug baron’s bail — Daily Nigerian

Kano Governor Probes Commissioner in Drug Baron Bail Investigation

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top