Africa’s wealthiest man, Aliko Dangote, has stepped down as chairman of Dangote Cement Plc, marking the end of an era at the company that laid the foundation for his business empire. The change, effective from July 25, 2025, ushers in a new leadership under Emmanuel Ikazoboh, former group chairman of Ecobank Transnational Inc.
The move also marks a new chapter for the Dangote family, as Mariya Aliko Dangote, the billionaire’s daughter, joins the company’s board.
While Dangote Cement remains a dominant force with 52 million tonnes annual capacity across Africa—35.25Mta of which is in Nigeria—Dangote is now shifting his full attention to his $20 billion oil refinery. The refinery, which took 11 years to complete, currently processes 650,000 barrels per day and is being upgraded to reach 700,000 bpd by Q4 2025.
This strategic shift has significantly increased Dangote’s wealth, now estimated at $28.5 billion, according to the Bloomberg Billionaires Index.
Meanwhile, the cement company continues to grow, with new plants under construction in Côte d’Ivoire (3.0Mta) and Itori, Nigeria (6.0Mta). Once completed, the projects will bring the total cement production capacity to 61.0Mta.
