Okomu Doubles Profit in 9 Months as Revenue Surges in Nigerian Palm Oil Market
Okomu, a Nigerian palm oil producer, reported a significant increase in profit over 9 months, driven by a surge in revenue. The company's net income rose by 113% year-on-year to N60.33 billion in the first nine months of 2025.
The growth was attributed to higher palm oil prices, increased product volumes, and robust demand in both domestic and export markets. Despite rising costs and inflationary pressures, Okomu's strong financial performance showcased its ability to sustain growth.
The company's gross profit expanded by 89%, with gross margin widening to 64.4%. Okomu's improved performance comes amid renewed global demand for palm oil.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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