Zichis Agro-Allied Industries Plc.: A Story of Resilience and Growth in a Challenging Economic Climate
Zichis Agro-Allied Industries Plc, a fully integrated agro-industrial company operating in Nigeria, has demonstrated remarkable resilience and growth despite the prevailing challenging economic conditions. At the company’s second Annual General Meeting (AGM) held in Lagos, the Chairman, Hezekiah Oshaba, announced a striking 119% increase in turnover, rising from N132 million in 2023 to N289 million in 2024. This achievement underscores the company’s commitment to navigating economic headwinds and capitalizing on opportunities within the agricultural sector. The board of directors, recognizing this strong performance, recommended a dividend of five kobo per share, subject to shareholder approval, with an option for scrip shares, allowing investors to reinvest their dividends for further equity.
The Managing Director/Chief Executive Officer, Antonia Akabusi, shed light on the company’s strategic expansion across various agricultural value chains. Zichis is pursuing a multi-pronged growth strategy, focusing on poultry, palm oil, feed milling, and aquaculture, with ambitious expansion plans projected to significantly increase revenue and market share. The company’s poultry operations, currently at a capacity of 20,000 birds, are slated for a substantial increase to 100,000 birds by the fourth quarter of 2026. This expansion is anticipated to generate over N500 million in monthly revenue from egg production alone, demonstrating the company’s focus on scaling its operations to capture a larger market share.
In the palm oil sector, Zichis is poised for significant growth. The company’s current 61-acre palm oil estate is targeted for expansion to 500 acres by 2030. This substantial increase in acreage, coupled with the planned commissioning of a new oil milling plant in 2026, is projected to drive an annual turnover of N4.8 billion. Furthermore, Zichis has long-term plans to establish a refinery, which will further solidify its position as a leading player in the edible oils market. This vertical integration strategy, from cultivation to refining, will enhance the company’s control over the value chain and contribute to increased profitability.
To support its expanding operations and enhance efficiency, Zichis is also investing in its feed milling and aquaculture segments. The company’s feed mill is undergoing an expansion from two to five tonnes per hour, aimed at improving production capacity and reducing operational costs. Concurrently, the aquaculture operations are being scaled up from 20 to 50 ponds, with significant revenue contributions expected from 2026 onwards. This diversification across different agricultural segments strengthens Zichis’s overall resilience and reduces its dependence on any single product or market.
These strategic expansion initiatives are underpinned by Zichis’s commitment to long-term value creation. The company’s disciplined execution, coupled with its focus on strategic growth, positions it well for future success. As Zichis prepares for its listing on the Nigerian Exchange, the company is emphasizing transparency, good governance, and shareholder value creation as key pillars of its corporate strategy. This commitment to best practices will further enhance investor confidence and attract capital for continued growth.
Zichis Agro-Allied Industries Plc, incorporated in April 2012, has emerged as a significant player in the Nigerian agricultural landscape. The company’s diversified portfolio, encompassing oil palm plantations, palm oil milling, vegetable oil refining, poultry, fish farming, animal feed milling, animal husbandry, maize, and cash crop production, reflects its commitment to integrated agribusiness. The company’s impressive growth trajectory, despite the challenging business environment, is a testament to its strategic vision and operational efficiency. With its ambitious expansion plans and a focus on long-term value creation, Zichis is poised to capitalize on the vast opportunities within the Nigerian agricultural sector and contribute significantly to the country’s economic growth. The company’s upcoming listing on the Nigerian Exchange is a significant milestone, marking a new chapter in its growth story and providing investors with an opportunity to participate in its future success.
