Ellah Lakes Expands Palm Oil Operations as Stock Soars
Ellah Lakes Plc has revealed plans to expand its oil palm cultivation with an additional 1,500 hectares scheduled for planting in 2026.
The announcement came during a visit by top stockbrokers to the company’s Edo State facility.
CEO Chuka Mordi also disclosed that 100 hectares have been set aside for livestock production to diversify operations and strengthen efficiency. He added that the company is increasing its supply of seedlings and implementing strategies to boost productivity across other locations.
On the palm oil sector’s outlook, Mordi stated: “We expect demand to continue growing with the population, while existing supply gaps could create opportunities for investment and expansion, benefiting industry players, the wider market, and the national economy.”
Ellah Lakes has enjoyed a remarkable 2025 performance on the Nigerian Exchange, with shares rising 398% year-to-date. The company’s stock surged past ₦7 in June on heavy trading volumes, fueled by news of a ₦250 billion capital raise, and has since continued its rally to above ₦15 in August.
In July alone, trading volume nearly doubled June’s level to 817 million shares, lifting the stock to ₦9. By August, it had gained more than 71% month-to-date.
The wider palm oil sector has also seen strong momentum. In H1 2025, Presco gained 168% and Okomu Oil advanced 78%. The bullish trend has extended into the second half of the year, with Ellah Lakes climbing 106%, Presco up 16%, and Okomu Oil adding 29%.
Analysts attribute the rally to solid industry fundamentals, ongoing expansion plans, and growing investor interest in agriculture-linked equities.
