High Expectations as Emmanuel Ikazoboh Becomes Chairman of Dangote Cement

Shareholders are excited over the appointed of Mr. Emmanuel Ikazoboh as Chairman of Dangote Cement Plc and are  expecting  him to sustain and improve on  the commendable performance of the leading cement group, writes Goddy Egene

Shareholders and other stakeholders of Dangote Cement Plc have expressed excitement over  announcement of a new chairman for the company to take over from Alhaji Aliko Dangote. After founding and  nurturing the leading cement group to an enviable  level, with presence in many other African countries, Aliko Dangote stepped down as a director and chairman  last Friday for Mr. Emmanuel Ikazoboh in line with principles of good corporate governance and succession planning.
It is believed that he is relinquishing his position as chairman and retiring from the board to focus more attention on the refinery, petrochemicals, fertilizer arm of his business empire.
The announcement  the  board changes was  made  the Group Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina.

Chiejina  said that the board of Dangote Cement Plc, apart from appointing   Ikazoboh  as chairman,   also appointed Hajiya Mariya Aliko Dangote  as  a director, while Prof. Dorothy Ufot retired from the board.
The company’s spokesman  explained that as Africa’s leading investor, Aliko Dangote left  giant footprints as he retired from the board, noting that his vision and tenacity redefined not just a company, but the entire cement industry landscape by becoming Africa’s largest cement producer and largest exporter of cement and clinker in Sub-Saharan Africa.
 “Aliko Dangote’s journey with cement began with a bold dream: to make Nigeria and Africa self-sufficient in cement production. Through strategic investments in state-of-the-art plants and a commitment to local content, he not only met that goal but exceeded it.

‘’Dangote Cement Plc has 52.0Mta capacity across African continent with Nigeria accounting for 35.25Mta. Currently, additional greenfield plants are coming up in Cote Ivoire (3.0Mta) and Itori, Nigeria (6.0 Mta) and on completion this year will push total capacity to 61.0Mta,” he said.
This development has been received with excitement and high expectations that Ikazoboh will not only sustain the legacy being left by Aliko Dangote but will also improve on the company’s performance given his wealth of experience.

Company’s Performance
Over the years, Dangote Cement Plc has not only become the continent’s leading cement producer but has also played a vital role in driving economic growth and development across numerous African nations.
Dangote Cement has equally been one investors’ favourites, recording consistent improved performance, declaring regular dividends to shareholders, paying huge amount as taxes to government coffers and giving back to the society in form of  corporate social  responsibility(CSR).

In the past five years, Dangote Cement has recorded a turnover of over N9.82 trillion and profit after tax of N1.81 trillion. Out this, government has benefitted over N582.74 billion as tax and several billions of Naira going into CSR projects.
Shareholders have equally reaped bountifully from their investments in the last five years, receiving dividends every year.  For the 2024 financial year, for instance, shareholders  went home with  N503 billion as dividend, translating to N30 per share. A higher dividend is even expected at the end of the current financial year given the half year results already posted by the Dangote Cement Plc.  

According to the unaudited results for the six months ending 30th June 2025, the group revenue went up by 17.7 per cent to N2.071 trillion,  from N1.760 trillion at the same period in 2024,  representing the highest revenue in the history of the company.
Group Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 41.8 per cent to N944.900 billion from N666.22 billion.
Profit before tax   grew faster by 149 per cent  from N292.96 billion to N730 billion,  while profit after tax surged by 174.1 per cent from N189.9 billion to N520.5 billion. In the six months, export volumes from Nigeria increased by 18.2 per cent, with 18 successful clinker shipments made to Ghana and Cameroon.

New Chairman Outlines Vision
Ikazoboh, in his acceptance speech, said he is truly honoured to accept the role of Chairman of Dangote Cement Plc while pledging to uphold the highest standards of leadership and dedication in this role.
Ikazoboh described the company as a beacon of African enterprise, which has consistently demonstrated resilience, innovation, and a commitment to excellence.
Giving an insight into what his tenure holds for the company, he said: “My vision for Dangote Cement Plc is built upon a foundation of sustainable growth, operational efficiency, and unwavering commitment to our core values. We will continue to focus on the following key priorities: Operational Excellence, Strategic Expansion, Sustainability, Innovation and Community Engagement.’’

Part of the strategies he intends to introduce includes driving down costs through the implementation of robust cost-reduction strategies to navigate inflationary pressures and enhance competitiveness.
The company, he stated, will accelerate efforts to adopt alternative fuels and technologies, reducing reliance on fossil fuels and contributing to a more sustainable future.
Regarding staff welfare, he promised that the company will continue to invest in training and development, fostering a culture of excellence and empowering employees to reach their full potential.

Chairman’s Wealth of Experience
Ikazoboh began his professional journey at Akintola Williams Deloitte, now known as Deloitte Nigeria, one of the world’s largest professional services firms. He became the Managing Partner for Deloitte’s offices in Côte d’Ivoire and Cameroon. His leadership in these regions helped expand Deloitte’s footprint across West and Central Africa, allowing him to build a strong foundation in finance and strategic management. He later became the Managing Partner for Deloitte West & Central Africa, where he served until 2009.

In  2010,  he was  appointed by Nigeria’s Securities and Exchange Commission (SEC) as Interim Administrator to oversee reforms at the Nigerian Stock Exchange (NSE) and the Central Securities Clearing System (CSCS). He was instrumental in restructuring the stock market, improving transparency, and implementing robust governance frameworks that helped rebuild investor confidence in the Nigerian capital markets. His work was key in shaping Nigeria’s modern securities markets and ensuring their stability during a critical time.

After completing his assignment at the NSE, Ikazoboh became  the Group Chairman of Ecobank Transnational Incorporated (ETI),  which is one of Africa’s largest banking groups, with a significant presence across the continent, in 2014. Under his guidance, Ecobank expanded its operations and reinforced its position as a key player in the African banking sector. His leadership was crucial during the bank’s transformation phase, where the company focused on digital innovation and customer-centric banking services.  Ikazoboh served as the Group Chairman of Ecobank until 2020, leaving behind a legacy of sustainable growth and strategic leadership.
He later joined Dangote Cement as an Independent Non-Executive Director of Dangote Cement Plc,  playing a  critical role  in driving the company’s continued growth and profitability before his elevation as chairman of the group last Friday.

Shareholders’ Expectations
Welcoming the decision of Aliko Dangote to step down and appoint a competent replacement, the President of Association for the Advancement of Rights of Nigerian Shareholders (AARNS),Dr. Faurk Umar, said  the African richest man must  be commended for his foresight in the establishment of Dangote Cement Plc and choosing Ikazoboh as his successor.
“Firstly, we need to commend Alhaji  Aliko Dangote for his foresight in establishing the first indigenous cement factory and his ability to remove Nigeria from importing to exporting  cement  to other African countries. He has also established  cement factories in some African countries including Ghana, Cameroon, Zambia, South Africa, Senegal,  and Tanzania.
“His ability to establish the largest refinery in the world is a strategy towards making Africa self reliance. Shareholders have benefited tremendously from the dividends paid since the listing of the company.

“We also commend the appointment of Mr. Ikazoboh as the chairman of the company to succeed Alhaji Aliko Dangote . As a former Interim Administrator  of  NSE, he has the experience required to chair the company. We believe he is going to add a lot of value to the operations of the company. His appointment has demonstrated the strength of the succession planning of the company. With the experience and qualification of Alhaji Aliko’s  children who can chair the companies, his decision to retire and not allow them to succeed him is commendable. But  they should be made vice chairmen and groomed  for future succession,” Umar said.

On her, part the National Coordinator, Pragmatic Shareholders Association of Nigeria (PSAN), Mrs. Bisi Bakare, said   shareholders expectations are very high.
“We welcome the new chairman and we have confidence in him. We want him to exceed what he met in terms of capital appreciation, dividend payout to shareholders, increase in the sales volume and growth in the profit. We expect continuous returns on our investments. We want him to sustain the community CSR. Furthermore, during his tenure, we don’t want division amongst the board members. He should be a listening leader not to be  autocratic. And I wish Alhaji Aliko Dangote happy retirement from the board of Dangote Cement, I wish him success in his future endeavors,” Mrs Bakare said.
Also speaking, the National Coordinator of Independent Shareholders Association of Nigeria (ISAN), Mr. Moses Ibgrude, said Ikazoboh should  bring his wealth of experience to enhance and improve the growth and expansion of the company for the benefits of all stakeholders.

“The sustainability is of paramount importance to the shareholders as the founder Aliko Dangote has put together a great company. The new chairman’s coming  must  lead to better performance. I am using the opportunity to appreciate the founder for the great  and wonderful job he has done,” Igbrude said.
In his comments, Mr. Boniface Okezie of Progressive Shareholders Association of Nigeria, said he had no  doubt that   Ikazoboh will perform as chairman  of Dangote Cement  having been there as one of the longest non-executive  directors.
“And as a seasoned  administrator,  he will deliver as  chairman. His  job is  to preside over the board meetings of the company; over see the affairs of the company with his fellow  board members making sure company ‘s policies are  maintained  at all times. He is to also encourage  the company’s  management  and its workforce to adhere  good corporate  governance  structure at all times and  as well  ensure  the production standards are  maintained.

He is not the one that saddled with  the  running of  the company on day-to-day basis. His own is to chair the board and preside over annual general meetings (AGM) of the company. He does not have to interfere  in the management  affairs  if they are doing well. Besides,  Aliko  Dangote will still have  an eye on the company even though he has  stepped  aside.
The most important is the entire board should  work together and  see that dividend payment remained consistent and share price maintains its growth trajectory,” Okezie said.