Africa’s richest man, Aliko Dangote, has officially stepped down as Chairman of Dangote Cement Plc, the company he founded and nurtured into one of the continent’s largest industrial giants.

The announcement was made on Friday in a statement by Anthony Chiejina, Group Chief Branding and Communications Officer.

“Alhaji Aliko Dangote has retired as Chairman of the Board of Dangote Cement to focus more on the operations and growth of the Dangote Petroleum Refinery,” the statement read.

Emmanuel Ikazoboh Appointed as New Chairman

Following Dangote’s resignation, the company’s board has appointed Emmanuel Ikazoboh, an independent non-executive director, as the new Chairman of the Board.

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Ikazoboh is a seasoned professional known for his experience in corporate governance and financial oversight. His appointment signals a continued commitment to stability and strategic direction within the company’s leadership.

Why Dangote Stepped Down

Aliko Dangote’s decision to retire is primarily driven by his commitment to the Dangote Petroleum Refinery project, which is seen as one of Africa’s most ambitious energy infrastructure undertakings. The refinery is expected to play a major role in reducing Nigeria’s dependence on imported petroleum products.

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