Africa’s richest man and founder of Dangote Cement Plc, Aliko Dangote, has announced his retirement as Chairman of the Board of Directors of the cement giant, effective July 25, 2025.
In a statement on Friday, Anthony Chiejina, Group Chief, Branding and Communications, said Dangote is stepping down to focus on Dangote Petroleum Refinery, petrochemicals, fertiliser projects, and government relations, which are central to the conglomerate’s five-year business growth trajectory.
To fill the leadership gap, Emmanuel Ikazoboh, an independent non-executive director and former Group Chairman of Ecobank Transnational Inc., has been appointed as the new Chairman of the Board.
The company also announced the appointment of Hajiya Mariya Aliko Dangote to its board, while Prof. Dorothy Ufot, another independent non-executive director, retired from the board.
“Aliko Dangote has redefined not just his company but the entire cement industry landscape,” Chiejina stated, describing the billionaire’s impact as monumental.
Under Dangote’s leadership, Dangote Cement transformed from a bold idea into Africa’s largest cement producer, with a combined capacity of 52.0Mta across the continent, including 35.25Mta in Nigeria.
The company is expanding with new plants in Côte d’Ivoire (3.0Mta) and Itori, Nigeria (6.0Mta), which will raise total capacity to 61.0Mta upon completion this year.
Financially, Dangote Cement has recorded historic growth:
Revenue surged 17.7% to ₦2.07 trillion in the first half of 2025.
EBITDA grew 41.8% to ₦944.9 billion, while profit before tax jumped 149% to ₦730 billion.
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Profit after tax soared 174.1% to ₦520.5 billion.
Cement export volumes also rose 18.2%, with 18 successful clinker shipments to Ghana and Cameroon.
Chiejina noted that Dangote Group subsidiaries paid over ₦402 billion in taxes in 2024, making the conglomerate Nigeria’s top taxpayer.
“Aliko Dangote’s legacy will be counted in the millions of jobs created, infrastructure built, and confidence restored in African industrial potential,” the statement added.
In his acceptance speech, Ikazoboh pledged to uphold the company’s high standards while steering it toward cost efficiency and sustainability.
“We will implement robust cost-reduction strategies to navigate inflationary pressures and enhance competitiveness,” he said.
He also emphasized accelerating the adoption of alternative fuels and cleaner technologies, reducing reliance on fossil fuels and promoting environmental sustainability.
Ikazoboh brings decades of leadership experience, having started his career at Akintola Williams Deloitte and later serving as Managing Partner for West and Central Africa. He was appointed by Nigeria’s Securities and Exchange Commission (SEC) in 2010 as interim administrator to reform the Nigerian Stock Exchange (NSE), now Nigerian Exchange Limited.