MeCure Industries Seeks N50bn Funding After 177% Profit Surge

MeCure Industries Plc has proposed a N50 billion capital raising program to accelerate its pharmaceutical manufacturing expansion across Nigeria and West Africa, following a remarkable financial performance in 2025. The company's revenue increased by 69% to N77.69 billion, up from N46.03 billion in 2024, while profit before tax nearly doubled to N16.43 billion from N8.28 billion, reflecting a 177% surge in profit after tax to N6.46 billion.

This performance was acknowledged during the company's third annual general meeting held in Lagos, where shareholders approved a dividend of 32 kobo per ordinary share, totaling N1.29 billion. Chairman Samir Udani emphasized the company's commitment to strong corporate governance and operational efficiency amid challenging economic conditions.

MeCure plans to secure regulatory approval for 19 new pharmaceutical products and has entered the Sierra Leonean market as part of its West African growth strategy.