Ellah Lakes Committed to Delivering Long-term Value for Shareholders, Boosting Nigeria's Agriculture

As the Chairman of Ellah Lakes Plc, Joe Attueyi, articulated during our 2025 financial year Annual General Meeting in Lagos, our company is steadfastly focused on creating enduring value for our shareholders while making a significant contribution to Nigeria's agricultural landscape. We are now entering a crucial phase of execution, prioritizing the scaling of our production, enhancing our processing capabilities, and optimizing efficiency across our entire agricultural value chain.

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the company is committed to deliver long-term value for shareholders and meaningfully to Nigeria’s agriculture development.

While the broader economic climate presents both opportunities and challenges, with early signs of macroeconomic stabilization in Nigeria, we acknowledge the persistent pressures on the agricultural sector. These include the high cost of capital, security concerns, and limited access to funding. Nevertheless, our Board has maintained a disciplined strategy, safeguarding our core fundamentals while making strategic decisions to ensure sustainable long-term growth.

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the company is entering a more execution driven phase, with a strong emphasis on scaling production, deepening processing capacity and strengthening operational efficiency across its agricultural value chain.

This past year has been pivotal for Ellah Lakes, marked by the successful commissioning of our Crude Palm Oil mill at Iguelaba, a significant stride in our backward integration strategy. Looking ahead, our next major growth initiative is the development of a new 40-ton per day Palm Kernel Oil processing mill, with agreements already signed and operations anticipated by the fourth quarter of 2026. This expansion will further enhance our value capture within the palm value chain, broaden our processing capacity, and foster a more resilient operational structure. We are confident in our pathway to delivering substantial returns and contributing meaningfully to Nigeria's agricultural advancement.

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While there are early indications of macroeconomic stabilisation in Nigeria, including moderating inflation and improved fiscal coordination, challenges such as high cost of capital, security concerns and limited access to funding remain significant pressures on the agricultural sector.