Arnold Ekpe to succeed Aliko Dangote as Dangote Sugar’s Board Chair
Dangote Sugar announces board leadership change as it navigates rising debt, cost pressures, and a drive for sustainable growth.
NIGERIA – Dangote Sugar Refinery Plc has announced the retirement of Aliko Dangote as Chairman of its Board of Directors, effective June 16, 2025.
Dangote, a founding Director since 2005, has led the company for two decades, overseeing its strategic transformation and consistent shareholder value delivery.
During his tenure, Dangote Sugar navigated major industry changes, expanded its operations, and maintained a strong emphasis on governance and long-term development.
His leadership was instrumental in implementing extensive Backward Integration Projects in Adamawa, Taraba, and Nasarawa States—initiatives aimed at reducing dependence on imported raw materials.
To succeed Dangote, the Board has appointed Arnold Ekpe, an Independent Non-Executive Director, as the new Chairman, also effective June 16, 2025.
Ekpe brings extensive leadership experience from the banking and financial services sectors. His deep understanding of corporate governance and stakeholder management is expected to guide the company in its next phase of growth.
“We welcome Mr. Ekpe to his new role and look forward to the next chapter in our Company’s journey under his leadership,” the company stated. “We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.”
The leadership change comes shortly after the company reported a record revenue of ₦213.93 billion (US$138.45M) in the first quarter of 2025, representing a 74.31% increase year-on-year.
However, high procurement costs continue to pressure the company’s profitability, consuming 95.67% of revenues and resulting in a pre-tax loss of ₦22.63 billion (US$14.6M).
While this marks a notable improvement from the ₦106.86 billion (US$69.16M) loss posted in Q1 2024, financial challenges persist.
Debt levels remain elevated, with total loans rising nearly 51% year-on-year to ₦727.29 billion (US$470.75M). This figure now accounts for over 81% of the company’s total balance sheet, highlighting the urgent need for financial restructuring and cost optimization strategies.
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