Business

Aliko Dangote has stepped down as Chairman of Dangote Cement Plc, the company he founded and transformed into Africa’s largest cement producer. The announcement was made in a statement issued on Friday by Anthony Chiejina, the Group’s Chief Branding and Communications Officer, who said the decision would allow Dangote to focus more on the refinery, petrochemicals, fertiliser, and government relations arms of the Dangote Group. “Foremost entrepreneur and founder of Dangote Cement Plc, Aliko Dangote, has announced his retirement as a Director and Chairman of the Board of Directors, effective July 25, 2025,” Chiejina said. Read Also: Imo Government Bans Open Grazing in State Capital from July 24 Following his exit, the company appointed Mr. Emmanuel Ikazoboh, an independent non-executive director, as the new Chairman. The Board also announced the appointment of Hajiya Mariya Aliko Dangote as a new member, while Prof. Dorothy Ufot, another independent non-executive director, has retired. Chiejina highlighted that Dangote’s journey in the cement business began with the vision to make Nigeria and Africa self-sufficient in cement production. That vision has now materialised with the company boasting a total production capacity of 52 million metric tonnes annually—35.25 million tonnes from Nigeria alone. New plants in Côte d’Ivoire (3.0Mta) and Itori, Nigeria (6.0Mta) are projected to raise the group’s total capacity to 61.0Mta. He also noted that under Dangote’s leadership, Dangote Cement recorded the highest revenue and EBITDA in the company’s history. According to its unaudited financial report for the first half of 2025, group revenue rose by 17.7 percent to ₦2.07 trillion, up from ₦1.76 trillion during the same period last year. EBITDA surged by 41.8 percent to ₦944.9 billion, profit before tax increased by 149 percent to ₦730 billion, while profit after tax climbed by 174.1 percent to ₦520.5 billion. The company also recorded an 18.2 percent increase in cement exports from Nigeria, with 18 clinker shipments sent to Ghana and Cameroon. “Aliko Dangote’s legacy will be counted in the millions of jobs created, the infrastructure built, and the confidence restored in African industrial potential,” Chiejina added, noting that the Dangote Group paid over ₦402 billion in taxes in 2024, making it Nigeria’s highest taxpayer. In his acceptance speech, Ikazoboh described his appointment as an honour and pledged to uphold “the highest standards of leadership and dedication.” He outlined his priorities, which include implementing robust cost-reduction strategies and adopting alternative fuels and technologies to reduce dependence on fossil fuels. Ikazoboh previously served as Group Chairman of Ecobank Transnational Inc. and began his career at Akintola Williams Deloitte. In 2010, he was appointed by the Securities and Exchange Commission (SEC) to lead reforms at the Nigerian Stock Exchange and the Central Securities Clearing System.

The Hydrographer of the Federation and CEO of the National Hydrography Agency (NHA), Rear Admiral Ayo Olugbode, has reaffirmed Nigeria’s commitment to advancing the blue economy and maritime safety through improved hydrographic data. Speaking at the World Hydrography Day and West Africa Hydrographic Summit in Abuja, themed “Seabed Mapping – Enabling Ocean Action,” Olugbode emphasized the agency’s role in promoting safe navigation, trade, and regional competitiveness. Olugbode highlighted Nigeria’s contribution of over 85,000 square kilometers to the global seabed mapping initiative and outlined efforts to tap into the $90 billion global Electronic Navigational Chart market, targeting an annual revenue of $12 million. He noted the NHA’s expanded charting capabilities, partnerships with academia, private sector, and the Nigerian Navy, and collaboration with international bodies such as the IC-ENC and IBS. He stressed that hydrography is key not only to navigation and safety but also to coastal planning, marine conservation, disaster risk reduction, and sustainable fisheries. Read Also: Tinubu Hosts ECOWAS Leaders at 67th Ordinary Session Amid Push for Regional Unity Cross River State Governor, Senator Bassey Otu, represented by Deputy Governor Peter Odey, praised the NHA’s recent Bakassi Deep Seaport survey, calling it a milestone for national and regional trade enhancement. The Obong of Calabar, Ekpo Okon Abasi-Otu V, urged greater investment in ocean literacy and an inclusive blue economy, emphasizing the cultural and economic significance of Nigeria’s coastal waters. Rear Admiral Luigi Sinapi of the International Hydrographic Organisation (IHO) described the summit as proof of Africa’s growing influence in global hydrography, highlighting its role in climate resilience, offshore energy, and sustainable marine development.