Renowned Nigerian industrialist and Africa’s richest man, Aliko Dangote, has officially stepped down as Chairman of Dangote Cement Plc, the continent’s largest cement producer. The decision, effective immediately, marks a strategic shift as Dangote intensifies focus on his group’s flagship multibillion-dollar project—the Dangote Petroleum Refinery in Lagos.
In a statement released by the Dangote Group, the company confirmed that Aliko Dangote is stepping aside to devote more time to overseeing the operations, expansion, and global partnerships tied to the refinery, petrochemicals, and fertiliser arms of the business.
“This is not a retirement, but a reallocation of focus. The refinery project is entering a critical phase where his vision and oversight are most needed.”
Following Dangote’s exit, the Board has appointed Mr. Emmanuel Ikazoboh, an independent non-executive director with extensive corporate governance experience, as the new Chairman of Dangote Cement Plc. In addition, Hajiya Mariya Aliko Dangote has joined the board as a new director, replacing Professor Dorothy Ufot, who retired after years of distinguished service.
Under Dangote’s leadership, Dangote Cement grew from a modest trading operation into an African industrial powerhouse with production plants across 10 countries, a total capacity of over 50 million metric tonnes per annum, and a strong presence in key markets across Sub-Saharan Africa.
The company recently announced plans to expand further with new plants in Côte d'Ivoire and Itori, Ogun State, Nigeria, which will boost overall capacity and solidify its dominance in the cement sector.
Dangote’s transition comes at a time when the Dangote Refinery, located in the Lekki Free Trade Zone, Lagos, is ramping up operations. With a processing capacity of 650,000 barrels per day, it is expected to be the largest single-train refinery in the world, aimed at ending Nigeria’s decades-long dependency on imported refined fuel.
The refinery, alongside a fertiliser plant and petrochemical complex, represents a cornerstone of Nigeria’s industrial transformation and a potential game-changer for the West African region’s energy security.
“This is the beginning of a new chapter for our group,” said a senior Dangote executive. “The Chairman’s decision to channel his attention to the refinery project aligns with our long-term vision to transform Africa’s industrial landscape.”
Industry analysts have described the move as a strategic realignment rather than a withdrawal, underscoring the importance of the refinery’s success to the broader Dangote Group portfolio.
“Dangote stepping down from cement shows the gravity and scale of the refinery project. It’s a pivotal step for Nigeria and Africa,” said Kola Balogun, an energy analyst based in Lagos.