Dangote steps down as chairman of Dangote Cement, Ikazoboh takes over

Africa’s richest man and founder of Dangote Cement Plc, Aliko Dangote, has retired as Chairman and Director of the Board of the cement giant, effective July 25, 2025.

Dangote, who built the company into Africa’s largest cement producer and exporter of clinker, said his decision to step down was to allow him to focus on the group’s other strategic businesses, including the Dangote Refinery, petrochemicals, fertiliser, and government relations, with the goal of driving the conglomerate’s five-year growth trajectory.

Following his exit, the Board announced the appointment of independent non-executive director, Mr. Emmanuel Ikazoboh, as the new Chairman of the Board. Hajiya Mariya Aliko Dangote also joined the Board as a Director, while Prof. Dorothy Ufot retired.

‘End of an era’

Regarded as Africa’s foremost industrialist, Dangote’s retirement marks the close of a chapter that redefined the continent’s cement industry. His ambitious drive for self-sufficiency in cement production turned Nigeria from an importer to an exporter of cement and clinker.

Dangote Cement currently boasts a total installed capacity of 52 million tonnes per annum (Mta) across Africa, with Nigeria contributing 35.25Mta. Additional plants under construction in Côte d’Ivoire (3Mta) and Itori, Ogun State (6Mta), expected to be completed later this year, will push total capacity to 61Mta.

Under Dangote’s leadership, the company achieved record-breaking financial results. According to unaudited figures for the half-year ending June 30, 2025, group revenue rose 17.7% from ₦1.76 trillion in 2024 to ₦2.07 trillion — the highest in the company’s history.

Group EBITDA surged 41.8% to ₦944.9 billion from ₦666.2 billion, with Nigeria operations posting an impressive 82.4% jump to ₦845.4 billion. Profit before tax soared 149% to ₦730 billion, while profit after tax climbed 174.1% to ₦520.5 billion. Export volumes from Nigeria also rose by 18.2%, with 18 clinker shipments to Ghana and Cameroon.

Dangote Group, the parent company, paid over ₦402 billion in taxes in 2024, cementing its status as Nigeria’s highest taxpayer.

Ikazoboh outlines priorities

In his acceptance speech, Ikazoboh described Dangote Cement as “a beacon of African enterprise” and pledged to build on its legacy of innovation, resilience, and growth.

“My vision for Dangote Cement Plc is built upon a foundation of sustainable growth, operational efficiency, and unwavering commitment to our core values,” Ikazoboh said.

He outlined key priorities for his tenure, including cost-reduction strategies to counter inflationary pressures, accelerating the use of alternative fuels to cut reliance on fossil fuels, and investing in staff training and development.

Profile of the new chairman

Ikazoboh, a veteran corporate leader, is a former Group Chairman of Ecobank Transnational Incorporated. He began his career with Akintola Williams Deloitte, where he became Managing Partner for francophone offices in Cameroon and Côte d’Ivoire before leading Deloitte’s operations across West and Central Africa.

In 2010, he was appointed by the Securities and Exchange Commission (SEC) as Interim Administrator to spearhead reforms at the Nigerian Stock Exchange (NSE) and Central Securities Clearing System (CSCS).