Pioneering Nigeria’s Integrated Agribusiness Future
Overview Founded in 1980, Ellah Lakes Plc stands as a leading Nigerian agribusiness enterprise, pioneering large-scale, sustainable agricultural development across the country. The company is strategically positioned in the cultivation and processing of oil palm, cassava, soybean, maize, rice, and livestock, all of which are central to Nigeria’s food security and industrial raw material supply chains. Through an integrated operating model that spans primary cultivation to agro-processing and export, Ellah Lakes is reshaping the country’s agribusiness landscape and unlocking significant value in one of the economy’s most critical growth sectors.
Operational Highlights
- 2,400Ha Oil Palm Plantation in Edo State
- 7,804Ha Mixed-Use Land Portfolio across Ondo and Ekiti States
- 5,000Ha Dedicated for Crop Farming
- 1,500 Livestock (Pig) Headcount as of FY2025
These assets form the cornerstone of a scalable, sustainable production base that supports the company’s vertically integrated value chain and export-driven growth strategy.
Strategic Growth Catalyst – Acquisition of ARPN
On October 3rd, 2025, Ellah Lakes Plc announced a landmark agreement to acquire Agro-Allied Resources & Processing Nigeria Limited (ARPN) from Tolaram Africa PTE Ltd and Valuestar Holdings PTE Ltd.
The acquisition represents a transformational scale-up for Ellah Lakes, reinforcing its position as a major player in Nigeria’s agribusiness sector.
Key Highlights of the Transaction:
- 22,176Ha of prime, high-value arable land (with 51% already cultivated)
- Positions Ellah Lakes among the top two oil palm producers by land bank in Nigeria
- Creates one of Southern Nigeria’s largest cultivated agricultural portfolios, enabling long-term sustainable yield growth
- Expands Ellah Lakes’ operational footprint and processing capacity within a defensive, high-growth sector
- Deepens strategic partnerships within Nigeria’s agro-industrial and food value chains
Strategic Impact: The ARPN acquisition accelerates Ellah Lakes’ expansion into large-scale commercial farming and agro-processing, establishing a robust foundation for long-term earnings growth, cash flow stability, and enhanced shareholder value.
Why Invest in the Public Offer
- Strong Revenue Growth Outlook: Driven by exposure to high-demand sectors such as oil palm, cassava, and livestock — key components of Nigeria’s food and industrial supply chains.
- Vertically Integrated Agro-Industrial Platform: Seamlessly connecting cultivation, processing, and export for enhanced efficiency and profitability.
- Experienced Management Team: Proven track record in executing strategic acquisitions, integrating multi-location operations, and delivering business turnarounds.
- Clear Strategic Roadmap: Well-defined path to sustained profitability, cash generation, and commencement of dividend payments.
- Transformational Scale: Post-acquisition, Ellah Lakes is positioned to capture substantial market share in Nigeria’s agribusiness sector — an area of structural underinvestment and high unmet demand.
Offer at a Glance
Item - Details
Issuer : Ellah Lakes Plc
Shares Offered: 18.8 billion Ordinary Shares of ₦0.50 each
Offer Price : ₦12.50 per share
Gross Proceeds: ₦235 billion
Offer Period; 10 November – 05 December 2025
Minimum Subscription - 500 shares and multiples of 100 thereafter
Use of Proceeds - Fund strategic acquisitions and boost operational capacity
Listing - Nigerian Exchange Limited (NGX)
Analyst Commentary
Ellah Lakes’ acquisition-driven expansion marks a turning point in Nigeria’s agribusiness sector, providing exposure to scalable, sustainable, and value-accretive assets. With strong management execution capability, integrated operations, and a growing land bank, the company is well-positioned to deliver long-term earnings growth, strengthen food security, and enhance shareholder returns.
Disclaimer
The user Wane_Investment_House has a position in NGSE:ELLAHLAKES. Simply Wall St has no position in any of the companies mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. The author of this narrative is not affiliated with, nor authorised by Simply Wall St as a sub-authorised representative. This narrative is general in nature and explores scenarios and estimates created by the author. The narrative does not reflect the opinions of Simply Wall St, and the views expressed are the opinion of the author alone, acting on their own behalf. These scenarios are not indicative of the company's future performance and are exploratory in the ideas they cover. The fair value estimates are estimations only, and does not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that the author's analysis may not factor in the latest price-sensitive company announcements or qualitative material.