Ellah Lakes Plc, a leader in Nigeria’s agricultural transformation, has announced a definitive strategic posture, underpinned by a massive ₦235 billion Public Offer. The capital raise is set to fund aggressive expansion and technological differentiation, securing the company’s position as a leading agro-industrial giant in West Africa.
At a press conference in Lagos following the formal signing ceremony on 05 November 2025, Mr. Chuka Mordi, Chief Executive Officer of Ellah Lakes Plc, provided a comprehensive overview of the company’s robust strategy, significant operational milestones, and ambitious growth trajectory.
Mr. Mordi highlighted Ellah Lakes’ distinctive, multi-dimensional positioning, built on diversified revenue streams designed for market resilience:
- Long-Term Focus: Investments in oil palm cultivation.
- Medium-Term Focus: Cassava cultivation.
- Immediate Revenue: Earnings from piggery operations.
The company benefits from extensive land assets, exceeding 30,000 hectares and spanning four states Enugu, Edo, Ekiti, and Ondo providing crucial geographic diversification and varied climatic advantages essential for multi-crop operations.
Mr. Mordi declared the upcoming public offer a “definitive statement of intent,” affirming the company’s commitment to delivering economies of scale, market resilience, and long-term shareholder value.
A key element of the company’s resilience is its successful vertical integration strategy. This has been practically realised through the commissioning of its 6-ton-per-hour Crude Palm Oil (CPO) mill, a strategic asset designed to build a more robust, scalable revenue model less susceptible to external supply chain disruptions.
The company’s growth journey has been meticulously sequenced through targeted mergers and acquisitions (M&A) and capital raises:
- Pivotal 2019 Reverse Acquisition: The acquisition of Telluria Limited integrated valuable oil palm assets and expertise, laying the critical foundation for current vertical integration.
- ARPN Acquisition: The recent acquisition of 100% shareholding of Agro-Allied Resources and Processing Nigeria Limited (ARPN) dramatically expanded the company’s footprint, adding 11,783 hectares of cultivated land, 2,093 hectares of cassava plantations, and an additional 10,393 hectares of uncultivated land.
Mr. Paul Farrer, Deputy Managing Director of Ellah Lakes Plc, stressed the profound impact of the ARPN deal: “This acquisition marked a pivotal moment for Ellah Lakes… It will deliver immediate scale and financial benefits, achieving in months what would have taken years organically.”
The CEO confirmed that prudent subsequent financing, including the ₦2.9 billion rights issue in 2023 and the late 2024 debt-to-equity conversion, successfully strengthened the balance sheet, providing the necessary liquidity to secure its expansive land bank and commission the CPO mill.
The culmination of this strategic rebuild is the ₦235 billion capital raise, which is specifically earmarked for funding the strategic acquisition of a significant agricultural asset aimed at dramatically expanding operational capacity and diversifying revenue streams.
The company is now shifting from a rebuilding phase to one of “aggressive expansion and technological differentiation,” with the ultimate goal of establishing a next-generation agribusiness platform aligned with Nigeria’s agricultural transformation agenda.
