Zichi Agro Secures Approval to Raise N50 Billion Capital

Zichi Agro Allied Industries Plc obtained shareholder approval to raise N50 billion through a combination of debt financing and equity during its 3rd Annual General Meeting held in Ogun State. The company plans to issue N5 billion in debt financing via commercial paper and acquire 2,000 acres of land at a total cost of N5.5 billion.

Shareholders also approved a final dividend of N0.20 per ordinary share and a bonus of 50 kobo for every existing share held. Mr.

Hezekiah Adejoh, the chairman, noted that the dividend and bonus payout aims to enhance shareholder value and improve liquidity, reinforcing investor confidence in the company's long-term growth prospects. The company anticipates challenges in the macroeconomic environment, including persistent inflationary pressures and foreign exchange volatility, but also sees opportunities driven by increased demand for local products and a focus on food security.

For the financial year ending 2025, Zichi Agro reported revenue of N675.62 million, a 134% increase from N288.89 billion, with a profit before tax of N364.21 million, reflecting a 405% increase.