Chemical and Allied Products Plc (CAP) has appointed Mr. Olalekan Aluko as Managing Director, effective 25 June 2026.
This follows the transition of the current Managing Director, Mrs. Bolarin Okunowo, to a new executive role within the UAC Group, CAP’s parent company, effective the same date.
The board thanked Mrs. Okunowo for her leadership, noting her role in strengthening operations and governance, and wished her success in her new position within the group.
It also expressed confidence in Mr. Aluko, citing his over 16 years of experience and his current role as Chief Supply Chain Officer overseeing operations, planning, and logistics.
About Olalekan Aluko
Mr. Olalekan Aluko began his career in 2008 as a Project Manager at Dock Management Nigeria, where he handled project costing, supervision, and installation of electrical systems across various assignments.
- He moved into a more analytical role in 2009 at Digital Jewels Limited as a System Analyst, focusing on business process analysis, system design, and identifying operational gaps across client operations.
- Building on this experience, he transitioned into engineering execution at Niyi Electrical Installation.
- He subsequently joined Olutemcon Associates in 2010 as an Electrical Services and Design Engineer, where he worked on building power systems, supervised installations, and prepared technical reports and tenders.
Later that year, he entered large-scale manufacturing at Guinness Nigeria Plc as an Automation Engineer and Maintenance Planner. His progression continued in 2014 at GlaxoSmithKline Nigeria as Site Electrical Manager.
He joined Chemical and Allied Products Plc in 2022 as Head of Operations and was appointed Chief Supply Chain Officer in 2025.
Get up to speed
Chemical and Allied Products Plc reported a pre-tax profit of N9.1 billion for the year ended 31 December 2025, reflecting a 50.51% increase from N6.06 billion in 2024.
- The fourth quarter supported the full-year performance, contributing N3.6 billion in pre-tax profit, representing an 84.08% increase compared to the same period in the prior year.
- Revenue for the 12-month period rose to N44.8 billion, up 23.36% from N36.3 billion recorded in 2024, indicating steady demand across its core product lines.
A breakdown of the figures shows that paint sales accounted for nearly all revenue at N44.8 billion, or 99.9%, while services contributed N46.2 million.
What you should know
Shares of Chemical and Allied Products Plc are up more than 43% year-to-date on NGX, trading at N99 per share as of mid-session on 26 March 2026.
The stock reached a peak of N109 per share on 12 February 2026, marking its highest price so far this year.
The UAC subsidiary has maintained strong share returns, closing above 80% in consecutive years—82% in 2024 and 81% in 2025—showing consistent market performance.
