Aliko Dangote Steps Down as Dangote Cement Chairman to Focus on Refinery

Africa’s richest man and industrial magnate, Aliko Dangote, has officially stepped down as the Chairman of Dangote Cement Plc, one of the largest cement producers on the continent. The decision, which took effect this week, is aimed at allowing him to dedicate more attention and resources to the rapidly growing operations of his energy ventures, including the multibillion-dollar Dangote Refinery project.

Dangote, who built his cement empire from the ground up, served as Chairman of Dangote Cement for over a decade, guiding the company through expansions across Nigeria and several other African countries. His resignation signals a significant shift in his business focus, as he turns his attention to the downstream oil and gas sector—a critical area of Nigeria’s economic transformation agenda.

The Dangote Group has in recent years made major investments in energy, most notably with the development of the Dangote Petroleum Refinery, which is expected to be one of the largest single-train refineries in the world. The refinery, located in the Lekki Free Zone in Lagos, is designed to produce 650,000 barrels of refined crude oil per day at full capacity.

According to company insiders, Dangote’s exit from the cement board was a strategic and voluntary move, aimed at allowing him to give undivided focus to finalizing and scaling the refinery operations. The project, which is central to Nigeria’s drive for fuel self-sufficiency, has already commenced partial production and is poised to significantly reduce the country’s dependence on imported petroleum products.

The board of Dangote Cement has appointed Emmanuel Ikazoboh, an experienced corporate governance expert and independent director, as the new Chairman. Ikazoboh is expected to bring strong leadership and oversight as the company continues to expand its footprint across Africa. He has previously held senior roles in top financial and regulatory institutions and is regarded as a steady hand in steering large corporations.

Industry observers note that Dangote Cement remains a robust and well-established enterprise, with strong fundamentals that will allow it to continue growing under new leadership. In the first half of 2025, the company reported revenues exceeding ₦2 trillion, marking a significant increase from the same period in 2024. Its profits also saw notable growth, driven by rising demand for cement in Nigeria and export markets, including Ghana and Cameroon.

Despite stepping down from the board, Aliko Dangote is expected to remain a major shareholder and strategic influencer within the cement business. His influence and business philosophy are deeply ingrained in the company’s culture and strategic direction, and he will continue to support the business from a broader group level.

For Dangote, the shift in focus is more than just a career move—it is a national mission. The refinery, along with adjacent fertilizer and petrochemical plants, is seen as a game-changer in Nigeria’s industrial landscape. The complex has the potential to create thousands of jobs, stabilize domestic fuel prices, and contribute substantially to Nigeria’s GDP. It also aligns with the federal government’s aspirations to position Nigeria as a regional energy hub in West Africa.

Sources close to the Dangote Group reveal that the billionaire’s current priority is to ensure the refinery achieves full-scale production and meets its ambitious export targets. Several strategic partnerships are being explored, both within Nigeria and abroad, to secure crude oil supply, optimize production, and build logistics channels for the distribution of refined products.

The refinery project has faced a range of technical and regulatory hurdles over the years, including delays in construction and issues with supply chains. However, recent progress suggests that the facility is now firmly on the path to full operations, with initial outputs of diesel and aviation fuel already making their way into the domestic market.

As Dangote repositions himself as a leader in the energy sector, there is growing optimism that his track record of execution and discipline in cement and other sectors will translate into success in oil and gas. Analysts believe that his pivot to refining and petrochemicals represents a natural evolution of his industrial strategy—one that could significantly impact Nigeria’s long-term economic trajectory.

Stakeholders in the cement industry have welcomed the transition, expressing confidence in the new chairman’s capacity to maintain the company’s upward trajectory. Employees and investors alike view the change as a positive development that enables the Dangote Group to deepen its leadership bench while diversifying its industrial footprint.

Aliko Dangote’s exit from the helm of Dangote Cement marks the end of an era, but also the beginning of a new chapter in his storied career. By concentrating his efforts on transforming Nigeria’s energy infrastructure, he continues to shape not only his legacy but the nation’s future.