‘Ellah Lakes Committed to Delivering Long-term Value for Shareholders’

Kayode Tokede  

The Chairman, Ellah Lakes Plc,  Joe Attueyi has expressed that the company is committed to deliver long-term value for shareholders and meaningfully to Nigeria’s agriculture development.  

Speaking during the company’s 2025 financial year Annual General Meeting (AGM) in Lagos, Attueyi outlined the company’s clear pathway toward operational expansion and long-term value creation. 

He said the company is entering a more execution driven phase, with a strong emphasis on scaling production, deepening processing capacity and strengthening operational efficiency across its agricultural value chain.

He noted that the broader economic environment continues to present a mix of opportunities and constraints. While there are early indications of macroeconomic stabilisation in Nigeria, including moderating inflation and improved fiscal coordination, challenges such as high cost of capital, security concerns and limited access to funding remain significant pressures on the agricultural sector.

Attueyi said the Board has maintained a disciplined approach focused on preserving the company’s fundamentals while taking strategic decisions that position it for sustainable long term growth.

He described 2025 as a defining period for Ellah Lakes, marked by the achievement of key milestones. Among these was the commissioning of the company’s Crude Palm Oil mill at Iguelaba, which represents a major step in its backward integration strategy. 

Looking ahead, Attueyi highlighted the company’s next major growth milestone, the development of a new 40 ton per day Palm Kernel Oil processing mill.

He confirmed that agreements have been signed for the project, with expectations that the facility will become operational by the fourth quarter of 2026. He explained that the new mill will deepen value capture within the palm value chain, expand processing capacity and support a more diversified and resilient operating structure for the company.