Ellah Lakes Plc’s Chief Executive Officer, Chuka Mordi, has announced plans to expand the company’s oil palm operations with an additional 1,500 hectares set for planting in 2026.
He made the statement during a recent visit by senior stockbrokers to the Ellah Lakes Plant in Edo State.
The CEO also revealed that 100 hectares of the company’s land will be allocated to livestock activities to support operational capacity.
He said the company is stocking up on seedlings and planning similar strategies in other areas to improve operations and efficiency.
Regarding the outlook for the palm oil sector, he added, “We expect demand to continue growing with the population, while existing supply gaps could create opportunities for investment and expansion, benefiting industry players, the wider market, and the national economy.”
Shares of Ellah Lakes have experienced bullish momentum so far this year, reflecting the broader trend among palm oil equities, and have attained a year-to-date performance of 398% on the Nigerian Stock Exchange.
Market trend:
Ellah Lakes has had a strong 2025 so far, with H1 marking its best first half since the stock began trading on the Nigerian Exchange.
The company started January at a share price of N3.16 and remained relatively flat through the first quarter of 2025.
Although April and May showed slight bullish movement, much of the momentum picked up in June, when trading volume reached 467 million shares, pushing the stock past N7 and closing the month with a 135% month-to-date gain, which accounted for most of the first-half performance (141.8%).
- This followed the company’s announcement of a N250 billion capital raise in June, part of its plans to enhance operations.
By July, the stock had climbed to N9, with trading volume nearly doubling June’s figure to 817 million shares.
Ellah Lakes is currently trading above N15 so far in August, reflecting the positive sentiment surrounding oil palm companies in 2025, with a month-to-date gain of over 71%.
Oil palm bulls:
Palm oil companies listed on the Nigerian Exchange have enjoyed a strong bullish run in the first half of 2025, a momentum that has continued into the second half of the year.
In H1 2025, the sector saw impressive gains, with Presco up 168% and Okomu Oil rising 78%.
So far, this upward trend has persisted in the second half, with Ellah Lakes climbing over 106%, Presco up more than 16%, and Okomu Oil gaining 29%.
Analysts attribute the sustained optimism to the industry’s positive fundamentals and efforts to optimize operations and attract investors.
