Africa’s richest man, Aliko Dangote, is set to retire as Chairman of Dangote Sugar Refinery Plc, officially ending two decades of leadership at the helm of one of Nigeria’s leading food and manufacturing giants.

In a statement on Wednesday, the company announced that Dangote’s retirement will take effect on Monday, June 16, 2025.

“In line with the principles of good corporate governance and succession planning, Dangote Sugar Refinery Plc hereby announces the retirement of our esteemed Chairman of the Board of Directors of the Company, Alhaji Aliko Dangote (GCON), effective June 16, 2025,” according to the statement.

Dangote’s retirement marks a significant transition for the company, which has grown into a dominant player in Nigeria’s sugar production sector under his watch.

The board also revealed that Arnold Ekpe, an Independent Non-Executive Director and former Group CEO of Ecobank, will assume the role of Chairman following a rigorous selection and transition process.

“Following a rigorous selection and transition process, the Board is pleased to announce the appointment of Mr. Arnold Ekpe, Independent Non-Executive Director, as the new Chairman of Dangote Sugar Refinery Plc, effective 16th June 2025,” the company stated.

Ekpe brings decades of executive experience in banking and corporate governance, having led major financial institutions across Africa.

“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 statement concluded.