The Dangote Group is a Nigerian multinational conglomerate that dominates several industries within the country and Africa as a whole. The Dangote Group has over the years sustained its market leadership in Cement Manufacturing, Sugar Milling, Sugar Refining, Port Operations, Packaging Material Production, Salt Refining Flour Production, Real Estate and most recently, Oil and Gas amongst others.
The company is one of the largest employers in Nigeria, with over 250,000 employees, which has contributed significantly to the Nigerian economy, with annual revenue of over $20 billion. It is no surprise then that Aliko Dangote: Founder, Chairman and CEO of the Dangote Group is listed as the richest man in Africa.
However, as with any great person, Aliko Dangote has relied on the expertise of a number of Executives in the realisation of the Group’s business objective and its achievement of numerous successful feats. One of those Executives is Dr Adenike Fajemirokun, Group Executive Director, Special Duties and Group Chief Risk Officer.
Fajemirokun has been the Group Chief Risk Officer of Dangote Industries Ltd since 2013. While often operating behind the scenes, she has worked closely with Aliko Dangote in navigating numerous challenges and in capitalising on opportunities, hence, directly contributing to the conglomerate’s impressive standing as one of the largest in West Africa and on the African continent. Her role in developing and implementing robust Risk Management frameworks has been pivotal for Dangote Industries Ltd. Her ideas and efforts in building a skilled and agile Risk Management team have allowed the company to effectively identify, assess, and mitigate risks, safeguarding its assets and minimising potential losses.
Working closely with the Management team, Fajemirokun integrated Risk Management into the company’s decision-making process. This enabled Dangote Industries Ltd to make informed and balanced decisions as they scaled. However, her impact extends beyond the realm of Risk Management. Her efforts have been particularly significant during critical periods for the company. For instance, in 2016, she played a key role in developing a Risk Management Plan that addressed potential threats such as terrorist attacks, cyber-attacks, natural disasters, and financial crises.
Fajemirokun also contributed immensely to executing the company’s expansion initiatives. In 2017, she assisted the Group in identifying and assessing risks associated with new market expansions. And her financial risk management skills were also invaluable during the financial challenges in 2018.
Most recently, the Dangote Group invested heavily in the construction of a new refinery. The project was estimated to cost about $19 billion. And, when operational it is projected to produce about 650,000 barrels per day (bpd), making it one of the most valuable projects ever executed in Nigeria. During the entire process, Fajemirokun oversaw the Group’s risk portfolio, providing deep insights, and helping identify possibilities.
While Alhaji Aliko Dangote rightfully receives recognition as the visionary behind the Dangote Group, Dr Adenike Fajemirokun’s pivotal role in supporting and enhancing his vision cannot be overlooked. Her dedication, expertise, and unwavering support have been instrumental in the growth and success of the Dangote Group, solidifying its position as Africa’s largest conglomerate.
