Aliko Dangote Applauds Tinubu’s Reforms, Steps Down As Chairman Dangote Cement

Africa’s foremost industrialist, Aliko Dangote, has praised President Bola Ahmed Tinubu as a visionary and listening leader whose economic policies are restoring confidence among private investors and stabilizing key sectors of the Nigerian economy.

Speaking during a visit by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, to the $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Ibeju-Lekki, Lagos, Aliko Dangote commended the administration’s initiatives, particularly the Naira-for-Crude policy and the Nigeria First strategy, as bold moves capable of repositioning the economy for accelerated growth.

“We must sincerely thank President Tinubu for the progress on crude supply to domestic refineries,” Aliko Dangote said. “His insistence that crude be priced in naira is commendable and essential for us to fully meet market demand.”

The business mogul stated that these reforms are yielding results, including growing investor confidence and enhanced exchange rate predictability. According to him, “For those of us in the business sector, this is a welcome ddevelopmet. As market conditions improve, we can expect a more favourable exchange rate.”

Dangote also lauded the establishment of a One-Stop Shop (OSS) for regulatory agencies under the Naira-for-Crude programme, which has improved operational efficiency by consolidating agencies like the Navy, NIMASA, and NPA under one platform for faster issue resolution.

He revealed that the Dangote Refinery is preparing to roll out 4,000 CNG tankers to distribute products efficiently and with a lower carbon footprint, helping to bring down logistics costs and enhance nationwide access to refined products.

Meanwhile, Dr. Oduwole reaffirmed the Federal Government’s commitment to supporting domestic investors. “Alhaji Aliko Dangote represents a cornerstone of Nigeria’s industrial advancement. This visit underlines our commitment to real, on-the-ground support for transformative local investment,” she said.

In a parallel development, Dangote has announced his retirement as Chairman and Director of Dangote Cement Plc, effective July 25, 2025, to allow him focus more on the operations of the refinery, fertiliser plant, petrochemical operations, and government relations.

Following his exit, Mr. Emmanuel Ikazoboh, a seasoned corporate executive and independent non-executive director, has been appointed Chairman of the Board. Hajiya Mariya Aliko Dangote was also named to the Board, while Prof. Dorothy Ufot retired.

Under Aliko Dangote’s leadership, Dangote Cement became Africa’s largest cement producer, operating with a capacity of 52.0Mta, 35.25Mta of which is in Nigeria. With new plants under construction in Côte d’Ivoire and Itori, Nigeria, capacity is expected to rise to 61.0Mta by the end of 2025.

The company’s performance soared under his tenure. In the first half of 2025 alone, group revenue rose by 17.7% to ₦2.07 trillion, while EBITDA grew 41.8% to ₦944.9 billion, its highest ever. Profit before tax surged by 149% to ₦730 billion, and profit after tax climbed 174.1% to ₦520.5 billion. Exports from Nigeria rose 18.2% with successful clinker shipments to Ghana and Cameroon.

As the highest taxpayer in Nigeria, Dangote Group contributed over ₦402 billion in taxes in 2024 alone.

Incoming Chairman Emmanuel Ikazoboh, formerly Group Chairman of Ecobank Transnational Inc., pledged to deepen the company’s legacy through operational excellence, cost efficiency, innovation, and sustainable practices. He also promised to improve staff welfare and drive community engagement, emphasizing a vision anchored in growth and resilience.

Ikazoboh’s vast experience, ranging from leadership at Deloitte West and Central Africa to reform roles with the Nigerian Stock Exchange, positions him as a strategic successor to steer the cement giant into its next chapter.

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By Lekan Olofinsusi