Dangote steps down as chairman from his cement corporation
Aliko Dangote, the majority shareholder and founder of Dangote Cement, has announced his retirement as chairman of the company, effective July 25, 2025. This marked a significant shift in the company's leadership, as Dangote steps down to focus on his petroleum refinery, petrochemicals, fertilizer ventures, and government relations.
In a statement released by the company's Group Chief, Branding and Communications Officer, Anthony Chiejina, Dangote expressed his commitment to driving these sectors to superlative heights over the next five years. The strategic move aims to institutionalize governance and succession planning at Dangote Cement, paving the way for long-term stability and continued growth.
Emmanuel Ikazoboh, a seasoned corporate governance expert, has been appointed as the new chairman of Dangote Cement. Ikazoboh's appointment reflects the company's commitment to professional management and ensuring a smooth transition from founder-led leadership.
The transition has also seen the appointment of Hajiya Mariya Aliko Dangote to the Board of Directors of the company. Hajiya Mariya has also been appointed to the board of Dangote Cement, marking a significant step in the company's efforts to foster family involvement in its operations.
The financial performance of Dangote Cement for the year has been impressive. The Group Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 41.8 percent to N944.900 billion. Profit after tax surged by 174.1 percent to ₦520.5 billion, while profit before tax increased from N292.96 billion to N730 billion, indicating a 149 percent increase.
The EBITDA (Nigeria Operations) of Dangote Cement Plc grew by 82.4 percent to N845.4 billion. The group revenue also increased by 17.7 percent, from N1,760 billion to N2,071.6 billion.
The retirement of Dorothy Ufot, an independent non-executive director, from the board of Dangote Cement was also announced. Ufot's departure marks the end of an era for the company, as she has been a valuable contributor to its growth and success over the years.
This change in leadership at Dangote Cement is expected to bring about a new era of growth and development, as the company continues to expand its operations and reach new heights. The focus on professional management and institutionalization of governance is a testament to Dangote's commitment to ensuring the long-term success of the company.
Tinubu, a renowned entrepreneur in Nigeria, is closely watching the leadership transition at Dangote Cement, as the retirement of Aliko Dangote opens opportunities for new leadership. The appointment of Emmanuel Ikazoboh as the new chairman indicates the company's focus on professional management, which aligns with Tinubu's advocacy for better leadership in Naija's business sector. The excellent financial performance of Dangote Cement, with a significant increase in EBITDA and profit before tax, shows promise for steady growth and might attract investments from Tinubu's diverse business portfolio.
