….net profit stood at N57.9bn in 2025

By Gabriel Ewepu

ABUJA – ON the heels of marking its 50 years of operation in Nigeria, Okomu Oil Company Plc, Tuesday, rewarded loyal shareholders with N55 per share for the financial year 2025.

Speaking at the 46th Annual General Meeting, AGM, Chairman, Okomu Oil Company Plc, Gbenga Oyebode, MFR, said amid the tensions and unresolved disputes between countries that had continued to disrupt global supply chains had greatly impacted energy prices and sustained imported inflationary pressures on the Nigerian economy.

Also, in 2025 economic developments in Nigeria also made the operating environment challenging including insecurity pervading various parts of the country, climate change shocks and economic instability, but amid all these and other challenges the Company demonstrated “remarkable resilience.”

Meanwhile, he disclosed that the total Company’s Fresh Fruit Bunches, FFB, production for 2025 was 313,461 tonnes; the oil mills processed 74,131 Crude Palm Oil, CPO, in 2025, nearly higher than 2024 while an oil extracting rate of 23.65 per cent was recorded in 2025.

He also made it known that the Company’s total revenue for all palm products in 2025 totaled N172,6 billion (60.5% higher than 2024) whilst the cost of sales Gross profit was N123,346 billion, (93% higher than 2024) and profit on continuing operations was N88,798 billion (103% than the corresponding period in 2024).

The Company also produces rubber had an average rubber price increased, with an increase of 4.6% in 2025, and this resulted in a significant increase in gross profit, from N14,6 billion to N17,6 billion. However, the profit before tax went down from N7 billion in 2024 to N4,5 billion in 2025.

Meanwhile, the Company’s net profit for 2025 on continuing operations increased by approximately 45% at N57,9 billion (N39,9 billion in 2024).

According to him, “We surpassed our prior year’s performance, achieving tremendous growth in both revenue and profitability. This performance underscores the strength of our strategy, the discipline of our execution, and the unwavering commitment of our Board, Management, and employees to delivering sustainable benefits to our shareholders.

“In recognition of our Company’s outstanding performance, the Board of Directors paid out an interim dividend of N40.00 during the fiscal year 2025 to reward our loyal shareholders for their continued trust and support.

“Additionally, the Board of Directors, has recommended a final dividend payment of N15 per share, which would translate into a total dividend payout of N55 per share, to shareholders for the financial year 2025.”

However, on enhancing the easy of doing business, the Chairman urged the regulatory agencies to help fight against adulteration of palm oil in the country as the Company cannot monitor and arrest perpetrators saying, “it is the responsibility of regulators and state governments”, and also called on government to step up security of lives and property, “But more importantly, I think it is very important for us to also be able to provide security. Security is one of our biggest challenges in Okomu. Lots of attacks around the villages.

“Also, make sure that we are not disturbed by local communities once we acquire land.Those are the kinds of things we expect government to do.”

On Corporate Social Responsibility, CSR, after 50 years of the Company’s operations in the host communities, he said the Company have been able to invest in “community development projects, education, and skills acquisition programmes designed to empower the 29 neighbouring communities within the Company’s footprint and to promote sustainable social growth and development within these communities.”

He gave credit to the founding fathers of the Company, the dedication of successive Boards and Management teams, the hard work of employees, support of the communities,band enduring confidence of the Company’s shareholders.

Meanwhile, speaking on the sidelines of the Company’s AGM, the Managing Director, MD, Okomu Oil Company Plc, Dr Graham Hefer, explained that from a small plantation of less than 15,000 hectares, the Company had done over 34,000 hectares in the last 50 years.

Hefer also described the 2025 dividend of 55 per share as historic, while he spoke on more extension of its oil palm plantations, and he said the Company employs “between 5,000 and 9,000 people, mostly youth” depending on the time of the year.

“So, we use a lot of young people, also, in terms of the smallholder farmers, it is one of our main forms of income now from our smallholders. We have more than 1,500 smallholder farmers that deliver to us, and we’re hoping to at least double that in the next two to three years”, he said.

On easy of doing business in Nigeria, he (Hefer) said, “I think the ease of doing business has eased in the last few years.

“We have found that things have started to get a bit better. But notwithstanding that, we are always in touch with government and with regulatory partners because they are the ones who can assist us to making that ease of business better.”