A major shareholder of The Initiates Plc (TIP), Mr. Afolayan Samuel Olajide, increased his stake in the company with a purchase valued at N66.24 million.
Regulatory filings disclosed that on September 18, 2025, Olajide acquired 5.52 million shares of the waste management and industrial cleaning firm at N12.00 per unit.
With the new acquisition, Olajide now owns 13.89% of TIP’s equity, maintaining his status as the company’s second-largest shareholder behind Ossai Reuben, who holds 20.97%.
It is important to note that his current 13.89% holding is still slightly lower than the 14% he held as of December 2024.
Implications for retail investors
For retail investors, this signals insider confidence in TIP’s future. Such purchases often support the share price and show belief in long-term growth.
Although the company’s free float increased to 43% as of June 2025 compared to 37.06% as of December 2024, continued insider accumulation could contract the free float, making the stock less liquid and more volatile
Nairametrics’ review of the stock revealed increased frequency in the director’s dealings, going by corporate disclosures filed on the NGX by the company.
Between August 5th and September 26, the company disclosed a series of insiders’ dealings which involved company employees or persons related to them.
In August alone, the company reported a total of 22 directors’ dealings, while 13 transactions were reported so far in September.
The bigger picture
The Initiates’ share price tells a compelling growth story. Listed at N0.85 per share on October 26, 2016, the stock has surged 1,455% to N13.22 as of September 26, 2025.
An investor who committed N1 million at listing would now be sitting on N14.55 million.
Such a trajectory, combined with renewed insider interest, could place TIP under a sharper spotlight on the NGX.
Investors will be closely watching its next earnings report and potential contract wins.
In the second quarter of 2025, revenue soared 217% year-on-year to N2.24 billion, while profit before tax jumped nearly eightfold to N744.9 million.
At the half-year mark, revenue more than tripled to N3.39 billion, with profit before tax surging 647% to N1.36 billion.
The Initiates’ position in a growing sector
Founded in 2016 as the first waste management company to list on the NGX, TIP has steadily expanded its footprint in environmental services and industrial cleaning. These industries are attracting renewed attention as Nigeria enforces stricter regulations on waste disposal and environmental compliance.
With a client base spanning oil and gas, manufacturing, and municipal services, TIP operates at the intersection of regulatory necessity and industrial demand.
Analysts believe this positions the company to capture growth opportunities from Nigeria’s drive toward sustainability and compliance-driven outsourcing.
