Neimeth International Pharmaceuticals Plc is set to access the capital market to execute a N20 billion fundraising programme approved by shareholders in 2025, as the company seeks to consolidate its return to profitability and fund a new phase of capacity expansion.
This disclosure was made by the Managing Director/CEO, Pharm. Valentine Okelu, during the firm’s 2026 annual media briefing ahead of the Annual General Meeting (AGM).
The capital raise is aimed at strengthening operations, refinancing obligations, and positioning the firm for long-term growth across African markets.
The initiative follows a decisive financial turnaround, with management asserting that recent earnings credibility and operational stability provide the foundation for new capital inflows and investor confidence.
What Neimeth’s boss is saying
Neimeth’s leadership emphasized that the N20 billion capital raise will support facility upgrades, scale production, and position the company for regional expansion.
The funds will also stabilise the balance sheet after legacy debt restructuring, which temporarily increased finance costs.
- “At our Annual General Meeting on June 23, 2025, shareholders approved a N20 billion capital raise. This capital will be deployed to complete expansion projects, strengthen working capital, reduce financing costs, enhance production capacity, and consolidate our growth momentum.”
- “We intend to access the capital market at the appropriate time to execute part of this approved raise. The company views fundraising as essential to sustaining growth, enhancing competitiveness, and doubling earnings over the medium term,” Okelu stated.
The capital raise is a strategic move to underpin operational resilience and long-term shareholder value creation.
Get up to speed
Neimeth’s capital programme is intended for manufacturing expansion and improving supply reliability across key products.
The company has continued upgrades at its Oregun facility to enhance efficiency and operating leverage.
- A new pharmaceutical complex is also under construction in Amawbia, Anambra State, designed to meet World Health Organisation standards and serve as a regional production hub.
- The planned fundraising will fund manufacturing upgrades, strengthen working capital, and scale regional operations.
- Management expects the facility to significantly expand output capacity and support market penetration.
Management sees the initiative as essential to doubling earnings over the medium term and securing long-term competitiveness in Africa’s pharmaceutical market.
Overall, strengthening local manufacturing will reduce import dependence, enhance medicine security across Africa, and allow the company to capitalise on intra-African trade opportunities as regional pharmaceutical demand grows.
What you should know
Neimeth’s N20 billion capital raise follows a clear recovery masterplan led by Pharm. J. Valentine Okelu’s new management team.
Part of the funds will reduce financing pressure, improve liquidity, and create a sustainable funding structure to support expansion without excessive debt servicing.
- The company restored profitability in 2025, as profit before tax reached N1.48 billion.
- Net profit stood at N982 million, returning earnings per share to positive territory
- This appears to be driven by strong topline performance. While revenue grew by 64% year-on-year to N7.37 billion, operating profit as well climbed to N2.7 billion.
Management attributes the rebound to product volume growth, cost discipline, and foreign currency liability restructuring.
