…As former Ecobank Chairman takes over reins
Aliko Dangote, renowned entrepreneur and founder of Dangote Cement Plc, has announced his retirement as Director and Chairman of the Board of Directors, effective 25 July 2025.
He is stepping down to concentrate on driving the company’s five-year growth strategy through his oversight of the Dangote Refinery, Petrochemicals, Fertiliser and Government Relations.
The board has appointed Mr Emmanuel Ikazoboh, an independent non-executive director, as the new Chairman of the Board. In the same announcement, Hajiya Mariya Aliko Dangote was named to the board, while Prof Dorothy Ufot retired.
Widely recognised as Africa’s leading industrialist, Dangote leaves behind a transformative legacy. His ambition and determination reshaped the continent’s cement industry, establishing Dangote Cement as the largest producer and exporter of cement and clinker in sub-Saharan Africa.
His journey began with a vision to make Nigeria and Africa self-sufficient in cement production. Through heavy investment in state-of-the-art plants and a commitment to local sourcing, Dangote not only achieved that goal but surpassed it.
Dangote Cement Plc currently has an installed capacity of 52.0Mta across Africa, with 35.25Mta in Nigeria. New greenfield plants in Côte d’Ivoire (3.0Mta) and Itori, Nigeria (6.0Mta) scheduled for completion this year will raise total capacity to 61.0Mta.
Under Dangote’s leadership, the company reported record financial results. Unaudited figures for the six months ending 30 June 2025 show group revenue rising by 17.7 per cent to ₦2,071.6 billion, compared with ₦1,760 billion in the same period of 2024. Group Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased by 41.8 per cent to ₦944.9 billion, with Nigerian operations surging 82.4 per cent to ₦845.4 billion.
Profit before tax jumped 149 per cent to ₦730 billion, while profit after tax rose 174.1 per cent to ₦520.5 billion. Export volumes from Nigeria climbed 18.2 per cent, with 18 clinker shipments delivered to Ghana and Cameroon.
Dangote’s legacy is reflected in the millions of jobs created, infrastructure developed and renewed confidence in Africa’s industrial capacity. Dangote Group subsidiaries contributed over ₦402 billion in taxes in 2024, the highest paid by any corporate entity in Nigeria.
In his acceptance speech, Ikazoboh pledged to uphold the company’s standards of excellence and build on Dangote’s achievements.
“I am truly honoured to assume the role of Chairman of Dangote Cement Plc. This company stands as a beacon of African enterprise, consistently demonstrating resilience, innovation and a commitment to excellence. It has become the continent’s leading cement producer and a driver of economic growth across Africa,” he said.
He outlined his agenda: “My vision for Dangote Cement Plc is anchored on sustainable growth, operational efficiency and steadfast dedication to our core values. We will focus on operational excellence, strategic expansion, sustainability, innovation and community engagement.”
Ikazoboh said new strategies would prioritise cost reduction to counter inflationary pressures and strengthen competitiveness. The company will accelerate the adoption of alternative fuels and technologies, cutting reliance on fossil fuels and promoting a sustainable future.
On staff welfare, he pledged ongoing investment in training and development “to foster a culture of excellence and empower our employees to reach their full potential.”
Ikazoboh previously served as Group Chairman of Ecobank Transnational Inc. and began his professional career with Akintola Williams Deloitte. He was Managing Partner for Deloitte’s francophone offices in Cameroon and Côte d’Ivoire and later led the firm’s operations in West and Central Africa until 2009.
In 2010, he was appointed by the Securities and Exchange Commission (SEC) as Interim Administrator to implement capital market reforms at the Nigerian Stock Exchange (NSE) and the Central Securities Clearing System Plc (CSCS).
