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Having stepped down as chairman of Dangote Sugar in June, Aliko Dangote is now also leaving the leadership of Dangote Cement. He is refocusing his efforts on the Lekki refinery, fertilizers, and petrochemicals—capital-intensive sectors where he maintains direct control.
Aliko Dangote is no longer chairman of Dangote Cement. The board of directors approved the decision on Friday, July 25, marking a new phase in reshaping his industrial empire. The Nigerian businessman, who leads one of Africa’s largest industrial flagships, is handing over control of the cement company to Emmanuel Ikazoboh, former chairman of Deloitte West and Central Africa.
This departure comes weeks after Dangote stepped down as chairman of Dangote Sugar Refinery in June. Both companies, listed on the Nigerian Stock Exchange, have long been central to his diversification and industrialization strategy.
The announcement follows Dangote Cement’s report of its best results in six years. Net profit tripled to $202 million in the second quarter, driven by a stable naira and high cement prices.
A Strategic Refocus on Key Sectors
These departures do not signal a withdrawal. Anthony Chiejina, head of branding and communications for the Dangote Group, stated that Dangote “is relinquishing his position as chairman and retiring from the board so as to focus more attention on the Refinery, Petrochemicals, Fertiliser and Government Relations, in order to drive the company’s five-year business trajectory to a superlative height.”
While the goal is to complete the vertical integration of his energy operations and strengthen the group’s role in African agriculture through fertilizer, this shift also reflects the nature of the sectors involved. These sectors require heavy investment, are highly regulated, face little direct competition, and remain dependent on political and institutional factors. Dangote’s personal presence is considered critical in these areas.
Cement and sugar thus become consolidated units, while the refinery, fertilizers, and petrochemicals now form the new core of the group’s industrial strategy.
Olivier de Souza
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