Ellah Lakes Grows Revenue to N146.7bn in 17 Months as Agribusiness Expansion Gains Momentum

Ellah Lakes Plc has reported a sharp rise in performance, growing its total revenue to N146.7 billion over a 17-month period as the agribusiness company expands its footprint across oil palm, livestock, and food processing operations in Nigeria.

According to its audited results for the period ended December 31, 2025, revenue climbed significantly from N0.78 million in July 2024 to N146.66 million, marking the company’s transition from development phase into early commercial production. The bulk of earnings came from oil palm produce, which contributed N136.41 million, while livestock operations added N10.25 million.

The growth was supported by key operational milestones, including the commissioning of a 5-tonnes-per-hour crude palm oil mill in July 2025. The development boosted processing capacity and enabled the company to begin generating meaningful income from its plantations. Gross profit also improved to N130.06 million, compared to N0.78 million in the previous period, reflecting the impact of early-stage commercial activities.

Ellah Lakes also recorded an increase in its asset base, which rose by 15.1 percent to N28.26 billion as of December 2025. Chief Executive Officer Chuka Mordi described the period as a major turning point for the company, noting that it has moved from building infrastructure to actively generating revenue across its core agricultural value chains.

Looking ahead, the company says it will focus on improving yields, boosting processing efficiency, and expanding integration across palm, cassava, and livestock operations. Despite broader economic challenges, Ellah Lakes emphasized its commitment to long-term growth, local food production, and strengthening Nigeria’s food security while delivering sustainable value to shareholders.

source: Leadership