Dangote appoints former CBN Director, Hassan Mahmud as Group Chief Economist

Dangote Group has announced the appointment of renowned economist and former Central Bank of Nigeria (CBN) Director, Dr Hassan Mahmud, as its Group Chief Economist, reinforcing the conglomerate’s economic advisory capacity at a time of heightened global and domestic market uncertainty.

The appointment announced in an emailed release on Monday positions Dr. Mahmud as the Group’s principal adviser on economic strategy, macroeconomic trends and policy implications, with direct reporting responsibility to the President of the Group, Aliko Dangote.

His role is expected to play a critical part in shaping strategic decisions across Dangote Industries Limited’s expansive operations, which span cement, sugar, fertiliser, petrochemicals and energy.

Strategic role at a critical Time 

Dangote Group said the appointment reflects its growing emphasis on rigorous economic analysis and policy intelligence as it navigates volatile commodity markets, exchange rate pressures and shifting monetary conditions in Nigeria and across Africa.

With major capital-intensive investments, including the $20 billion Dangote Petroleum Refinery and Petrochemicals complex, the Group’s leadership is increasingly reliant on forward-looking economic insights to manage risks, optimise financing structures and align long-term strategy with evolving policy environments.

Three decades at the heart of Nigeria’s Monetary Policy 

Dr Mahmud brings more than 30 years of experience in economic policy formulation, central banking and financial sector regulation. During his long career at the CBN, he held several senior positions, including Director of the Trade and Exchange Department and Director of the Monetary Policy Department.

He also served as Secretary to the Monetary Policy Committee (MPC), placing him at the centre of Nigeria’s interest rate and monetary policy decisions for years. In addition, he worked as Special Assistant on Economic Policy and Research to the CBN Governor, further deepening his exposure to high-level macroeconomic management and policy coordination.

Regional and continental economic expertise 

Beyond Nigeria, Dr Mahmud has contributed significantly to regional economic integration efforts across Africa. He worked as a lead consultant to the African Union Commission on trade integration initiatives and played a role in the establishment of the African Monetary Fund.

This continental experience is expected to support Dangote Group’s pan-African expansion strategy, as the company continues to scale its footprint across multiple African markets amid the implementation of the African Continental Free Trade Area (AfCFTA).

Strong academic and professional credentials 

Academically, Dr Mahmud holds a PhD in Economics and an MSc in Energy Economics and Policy from the University of Surrey, United Kingdom, as well as a BSc in Economics from Ahmadu Bello University, Zaria. He is an alumnus of the Harvard Kennedy School and holds professional certifications as a Bank Examiner and Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) Analyst.

He is a Fellow of several professional bodies, including the Nigerian Statistical Association, the Chartered Institute of Bankers of Nigeria and the Compliance Institute of Nigeria. A prolific researcher, Dr Mahmud has published extensively in macroeconomics, monetary policy, energy economics and financial engineering.

In addition to his corporate responsibilities, he remains active in academia as a visiting professor at several Nigerian universities and currently serves as President of the Nigerian Association for Energy Economics.

Deepening economic insight

The appointment underscores Dangote Industries Limited’s strategic focus on deep economic insight and policy foresight as it positions itself for sustained growth amid evolving market dynamics across Nigeria, Africa and the global economy.

Dangote appoints former CBN Director, Hassan Mahmud as Group Chief Economist  - Nairametrics