Ellah Lakes Plans PKO Mill, 1,500 Hectares Expansion
Ellah Lakes Plc has unveiled an expansion plan designed to boost operational capacity, strengthen its earnings base, and deliver long-term value to shareholders.
The announcement was made during a facility tour of the company’s flagship plant in Edo State by a delegation of senior stockbrokers, who commended the progress made by the agribusiness firm.
As part of its growth strategy, the company disclosed that in 2026 it would plant an additional 1,500 hectares of oil palm, install a Palm Kernel Oil (PKO) mill, and allocate 100 hectares of farmland for livestock development.
According to Chief Executive Officer, Chuka Mordi, the initiatives are aimed at bringing all of Ellah Lakes’ land holdings in Iguelaba into full production and ensuring optimal utilisation of its Crude Palm Oil (CPO) mill.
“We are building up our stock of seedlings to guarantee uninterrupted operations and are applying forward-planning strategies across other areas of our business.
“Our focus is on efficiency, productivity, and sustainable value creation for shareholders. Ultimately, the company’s share price will mirror investor confidence and long-term growth prospects,” Mordi explained.
He expressed optimism about the outlook for the oil palm sector, noting that rising population growth and persistent supply gaps are creating significant opportunities for investment.
“Over the next five years, demand will continue to outpace supply, presenting an opportunity for industry players and the wider economy,” he said.
He added that Ellah Lakes is committed to aligning its operations with global sustainability standards, particularly those outlined by the Roundtable on Sustainable Palm Oil (RSPO), which emphasise environmental stewardship, community welfare, and labour rights.
“RSPO remains the gold standard for responsible palm oil production, and we continue to benchmark our practices against its framework,” he stressed.
The CEO also revealed that the company is on course to become cashflow positive, a milestone that would pave the way for dividend payments to shareholders. “Once this is achieved, dividend distribution will become our top priority,” he assured.
Mordi, however, called for macroeconomic stability and the provision of critical infrastructure—especially roads and power supply—which he described as essential to driving growth in Nigeria’s real sector.
During the tour, Executive Director of WCM Capital, Habeeb Amole, who represented the visiting stockbrokers, lauded the management of Ellah Lakes for its strides in land acquisition, plantation development, and nursery establishment.
“The composition of Ellah Lakes’ board reflects young, visionary leadership, which signals growth, ambition and long-term prospects.
“For investors, this company offers significant opportunities, given its current valuation and ambitious expansion agenda,” Amole remarked.
He noted that both long-term investors and short-term speculators stand to benefit from the company’s growth trajectory and positive market sentiment.
Ellah Lakes Plans PKO Mill, 1,500 Hectares Expansion is first published on The Whistler Newspaper
