Alhaji Aliko Dangote, Africa’s wealthiest individual and founder of the Dangote Group, announced his retirement as Chairman and Director of Dangote Cement Plc, Africa’s largest cement producer.
The decision, confirmed by Group Chief Branding & Communications Officer Anthony Chiejina, enables Dangote to dedicate his efforts to philanthropy through the Aliko Dangote Foundation (ADF), his transformative $20 billion Dangote Refinery in the oil and gas sector, and new ventures aimed at bolstering Nigeria’s economy and supporting ordinary citizens.
Dangote’s leadership transformed Dangote Cement into a powerhouse with a 52 million metric ton annual capacity, contributing significantly to Nigeria’s self-sufficiency in cement and a third of the Nigerian Stock Exchange’s market capitalization.
His retirement paves the way for Emmanuel Ikazoboh, former Ecobank Transnational Inc. Group Chairman, to take the helm, with Hajiya Mariya Aliko Dangote joining the board.
Ikazoboh hailed Dangote’s legacy, noting, “His vision revolutionized the cement industry and set a benchmark for African industrialization".
The Dangote Refinery, operational since early 2024, is central to his next chapter. With a 650,000-barrel-per-day capacity, it aims to end Nigeria’s reliance on imported fuel, create thousands of jobs, and boost foreign exchange earnings.
Dangote’s “new adventures” are expected to target agriculture, infrastructure, or petrochemicals, aligning with his vision of economic diversification.
As Nigeria faces 34.19% inflation and public frustration, Dangote’s shift is seen as a strategic move to address economic challenges and foster self-reliance.
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