By Chioma Obinna

Fidson Healthcare Plc, Nigeria’s leading pharmaceutical manufacturer, has announced the retirement of its Founder and Managing Director, Dr. Fidelis Ayebae, following a three-decade-long stewardship of the company. The announcement was made during the company’s 26th Annual General Meeting, AGM.

Meanwhile, shareholders at the meeting approved a dividend payout of N1.00 per 50 kobo ordinary share, totalling over N2.29 billion, which aligns with the company’s earnings per share of N2.52 and its policy of consistent shareholder returns.

Also at the same meeting, Mr. Abiola Adetunji Adebayo, a pioneer Executive Director of the company, was formally confirmed as the new Managing Director and Chief Executive Officer, effective August 1, 2025.
Reflecting on his tenure, Ayebae described the moment as bittersweet.

“As I step down, I do so with immense pride in what we have built together,” he said.

“I now retire knowing that Fidson is in excellent hands with Biola Adebayo, who has been on this journey with me for 29 years. I am confident that his leadership will continue to drive innovation and strategic growth, ensuring the company remains at the forefront of healthcare delivery in Nigeria.”

The AGM, conducted virtually in line with the Business Facilitation Act, 2022, also marked the retirement of the Board Chairman, Mr. Segun Adebanji, who stepped down after completing his term.

He expressed confidence in the company’s succession plan and applauded the smooth leadership transition.

“This move confirms Fidson’s robust succession planning and commitment to sustained growth,” Adebanji stated.

“Dr. Ayebae’s retirement is the end of an era, but also the beginning of a new chapter, with a strong leader ready to take the reins.”

During the meeting, shareholders approved a dividend payout of N1.00 per 50 kobo ordinary share, totalling over N2.29 billion, in line with the company’s earnings per share of N2.52 and its policy of consistent shareholder returns.

In another major resolution, shareholders granted the Board authorisation to raise to N30 billion in new capital through a rights issue or other equity methods. The company’s share capital was also increased from N1.2 billion to N1.5 billion through the creation of an additional 600 million ordinary shares.

Speaking on the strategic direction behind the capital raise, Fidson’s Finance Director, Mr. Imokha Ayabae, said the fund will enable the company to deepen its footprint in the healthcare sector.

“This N30 billion mandate is pivotal for our future,” he explained.

“It provides us with the financial agility to pursue strategic initiatives, including capacity expansion, product innovation, and market penetration that will solidify our leadership position. We are poised to leverage these funds to broaden our impact across Nigeria and other African countries.”

The Company Secretary, Mr. Yomi Adebanjo, noted that the virtual AGM exemplifies Fidson’s transparency and commitment to corporate governance.

“Our electronic AGM ensures that all shareholders, regardless of location, can participate actively in the company’s decision-making process,” he said.

“This aligns with our ethos of strong corporate governance and accountability.”

Also at the meeting, shareholders approved the company’s audited accounts for the financial year ended December 31, 2024, as well as the reports of the directors, auditors, and audit committee. Directors were elected and re-elected, while the remuneration of directors, auditors, and company managers was disclosed and ratified.

With a renewed leadership structure, robust capital backing, and a strategic expansion plan, Fidson Healthcare Plc is poised for a new era of growth, innovation, and enhanced shareholder value.