In a landmark transition for Nigeria’s industrial and capital markets, Africa’s richest man and renowned business magnate Aliko Dangote has stepped down as the Chairman of Dangote Cement Plc, the flagship subsidiary of the Dangote Group. The Board of Directors confirmed that Mr. Emmanuel Ikazoboh, an accomplished corporate leader with decades of governance experience across Africa, has been appointed as the new Chairman, effective immediately.
This announcement marks the end of an era for Dangote Cement Plc, a company that Aliko Dangote transformed into Africa’s largest cement manufacturer and exporter. It also signals a fresh phase of growth, as leadership passes into new hands at a time when the company has posted record-breaking results. Reflecting back, Aliko started the company from cement importation and trading before going fully to start manufacturing cement in Nigeria and other countries in Africa.
Why Dangote is Stepping Down
According to information released by the company, Mr. Dangote’s decision to step aside from the board will allow him to focus his energy on oil and gas, petrochemicals, fertiliser production, philanthropy, and other new ventures that are central to Nigeria’s economic transformation.
Reports from Premium Times explained that the move is part of a broader five-year strategy to concentrate his efforts on the recently commissioned Dangote Refinery and other group-wide priorities. The publication noted that Dangote Cement will remain a core part of the group but will now benefit from independent leadership as it pursues continental growth.
Business Insider Africa analysed the development, describing it as a “generational handover” designed to ensure continuity and strong governance. The platform stressed that the exit does not diminish Dangote’s influence but instead allows the company to be more institution-driven.
Vanguard reported that Mr. Emmanuel Ikazoboh brings over 40 years of professional experience in auditing, risk management, and board leadership, having served as the Chairman of Ecobank Transnational Incorporated and as Regional Managing Partner of Deloitte in West and Central Africa. He is expected to lead the cement giant through a new chapter of operational excellence and sustainable expansion.
Strong Performance Under Dangote’s Leadership
Over the past two decades, Dangote Cement has grown from a local cement operation into a multinational conglomerate with operations in Nigeria and several African countries. According to Premium Times, the company currently has a combined installed production capacity of 52 million tonnes per annum and expects to reach 61 million tonnes before the end of 2025 following ongoing expansion projects.
The company’s financial performance reflects this growth. In the first half of 2025, revenue crossed ₦2.07 trillion, up 17.7% year-on-year. Profit after tax surged by 174% to ₦520.5 billion, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased to ₦944.9 billion, making it the strongest half-year performance in the company’s history.
Other Board Changes
The Board also announced new appointments and retirements. Hajiya Mariya AlikoDangote has been appointed as a non-executive director, while Prof. Dorothy Ufot has retired after years of service on the board.
Public Reaction
The news of Aliko Dangote’s retirement drew a swift reaction from industry leaders and the business community. Engr. Sanusi Dantata on his verified X (formerly Twitter) page, said:
“This allows him focus all his energy on Philanthropy, Oil & Gas, and new adventures, all aimed at helping Nigeria’s economy and helping the ordinary man!”
The Road Ahead
Analysts believe that this leadership transition will position Dangote Cement for sustained growth across Africa. With Emmanuel Ikazoboh steering the board, the company is expected to focus on operational efficiency, cost control, sustainability initiatives such as alternative fuels, and expansion into new markets.
For Aliko Dangote, this step marks a deliberate shift to focus on ventures that he believes will have a greater direct impact on Nigeria’s economic diversification, energy security, and social development.
This move is being widely interpreted as a strategic realignment rather than an exit, ensuring that the Dangote legacy continues through a mix of strong institutional leadership and national impact-driven investments.
