Ellah Lakes Plc has announced the launch of a public offer to raise N235 billion as part of its plan to strengthen its position as one of West Africa’s leading indigenous agro-industrial companies. The capital raise will fund the company’s expansion in the palm oil and livestock sectors, while supporting its goal of becoming Nigeria’s largest piggery operator.
The offer, priced at N12.50 per share, involves the issuance of 18.8 billion new shares to the public. According to the company, proceeds will be used to acquire Agro-Allied Resources & Processing Nigeria Ltd (ARPN), upgrade processing facilities, and scale production capacity across its agricultural value chains.
In a statement, Ellah Lakes said the offer represents a strategic move to consolidate its role as a key supplier of agricultural produce across West Africa through sustainable practices that improve rural livelihoods and deliver long-term returns to investors.
Chief Executive Officer, Chuka Mordi, described the capital raise as a “definitive statement of intent” reflecting the company’s ambition to achieve economies of scale, market resilience, and sustainable value creation. He expressed confidence that the funds would accelerate Ellah Lakes’ vision of becoming a dominant player in the region’s agribusiness landscape.
“We are confident that by deploying this capital effectively and executing our clear strategy, Ellah Lakes will solidify its position as the undisputed leading indigenous agro-industrial giant in West Africa,” Mordi said.
He added that the acquisition of ARPN would provide immediate scale and financial benefits, expanding Ellah Lakes’ landholding by nearly 22,000 hectares, comprising 11,783 hectares of cultivated land and 10,393 hectares of undeveloped land.
Industry observers note that Ellah Lakes’ renewed expansion drive could open up opportunities for smallholder farmers, processors, and suppliers within its value chain. By investing in sustainable production systems and rural development, the company is expected to strengthen Nigeria’s agricultural competitiveness while contributing to job creation and local enterprise growth.
