Big Bet on Agriculture: Ellah Lakes to Plant 1,500 Hectares of Oil Palm in Major Expansion

In a bold move that signals a major bet on Nigeria’s agricultural future, Ellah Lakes Plc has announced a massive expansion plan to plant an additional 1,500 hectares of oil palm in 2026. This ambitious project, which is part of a broader strategy to become a dominant force in the country’s agribusiness sector, was unveiled to a delegation of senior stockbrokers during a recent tour of the company’s facilities in Edo State.

According to Ellah Lakes CEO, Chuka Mordi, the plan is more than just about planting new trees. It’s about a complete vertical integration strategy designed to make the company a self-sufficient powerhouse. The expansion will bring all of the company’s land holdings in Iguelaba into full production, a move that will ensure its new crude palm oil mill can operate at maximum capacity. Beyond the new palm plantations, the company also has plans to install a Palm Kernel Oil (PKO) mill and venture into livestock farming, allocating 100 hectares for the new venture.

The announcement was met with enthusiasm by the visiting stockbrokers, who were impressed by the company’s progress and the long-term vision laid out by its management. Analysts see this as a smart move that will allow Ellah Lakes to significantly enhance its operational efficiency and boost its profitability by controlling every step of the value chain from the farm to the processing mill. The investment community is watching closely, viewing the company as a strong option for investors seeking to tap into Nigeria’s agricultural growth story.

Ellah Lakes is not just focusing on profits, however. The company is actively aligning its operations with global sustainability standards, like those of the Roundtable on Sustainable Palm Oil (RSPO). This commitment to ethical and environmentally friendly practices is intended to build investor confidence and ensure the project benefits not just the company but also local communities.

This major agricultural push by Ellah Lakes underscores a critical shift in Nigeria’s economy. As the country grapples with food security challenges and seeks to diversify away from its dependence on oil, private sector investments like this are seen as vital. The successful execution of this project has the potential to create a significant number of jobs and contribute to reducing the nation’s reliance on imported palm oil, making it a win-win for both the company and the country.