Aliko Dangote Steps Down as Chairman of Dangote Sugar Refinery, Signals Strategic Shift

 Africa’s richest man, Aliko Dangote, announced his retirement as Chairman of Dangote Sugar Refinery Plc on June 11, 2025, during the company’s annual general meeting in Lagos, marking a significant transition for Nigeria’s largest sugar producer.

The 68-year-old billionaire, speaking to shareholders, cited a need to focus on his conglomerate’s $20 billion refinery project, which began petrol production in January 2025. The move, effective December 31, 2025, ends Dangote’s 20-year tenure, with deputy chairman Tunde Hassan-Odukale set to succeed him, per a company statement.

Dangote Sugar, listed on the Nigerian Exchange (NGX), processes 1.4 million tonnes annually, holding a 60% market share, but faced 2024 losses of ₦100 billion due to naira devaluation, per NGX filings. Dangote emphasized the company’s resilience, citing new cane fields in Nasarawa to boost local production. Analysts like Lagos-based Bismarck Rewane see the exit as a pivot to diversify Dangote Industries, with the refinery targeting 650,000 barrels daily, challenging NNPCL’s dominance under CEO Bayo Ojulari.

The retirement, reported by Bloomberg, follows Dangote’s 2024 Forbes ranking as Africa’s richest with $13.4 billion, despite currency woes. Critics like TheCable’s Simon Kolawole urged succession planning across Dangote’s empire, spanning cement and fertilizers.