Ellah Lakes Plc Targets Growth and Value Integration

Ellah Lakes Plc, during its 2026 annual general meeting held on Tuesday in Lagos, outlined its strategy for scaling and value integration across its agricultural operations. Chairman Joe Attueyi characterized the 2025 financial year as a defining period, highlighting the success of the crude palm oil mill in Igueala.

The company reported revenues of approximately ₦147 million for the 17-month audit period ending December 2025, marking a significant increase from previous revenue cycles. Attueyi detailed plans to develop a new 40-ton per day palm kernel oil processing mill, expected to commence operations in the fourth quarter of 2026.

He acknowledged the disappointment of failing to meet the regulatory subscription threshold for a ₦235 billion public offer but emphasized the insights gained for future funding strategies. The meeting also included the approval of several key resolutions, including the re-election of directors and amendments to the articles of association to allow virtual hybrid general meetings.