WorldStage— Okomu Oil Palm Company Plc has confirmed that its total revenue from palm products rose to N172.6 billion in 2025, representing a 60.5 per cent increase compared to 2024.
The company also reported that cost of sales for the year under review stood at N112.339 billion, representing a 175.3 per cent increase over the previous year.
The Chairman of Okomu Oil Palm Company, Mr Gbenga Oyebode, disclosed this at the company’s 46th Annual General Meeting (AGM) and 50th anniversary celebration on Tuesday in Abuja.
Oyebode said the company recorded a gross profit of N123.346 billion, 93 per cent higher than in 2024, while profit from continuing operations rose to N88.798 billion, representing a 103 per cent increase over the corresponding period.
He said the company also delivered strong performance in its rubber segment, noting that in spite of mixed macroeconomic conditions and lower rubber output, it recorded a total turnover of N198.2 billion, representing a 52 per cent increase year-on-year.
According to him, consolidated cost of sales rose by about 27.6 per cent, while consolidated gross profit increased by 79.5 per cent, rising from N78.5 billion in 2024 to N141 billion in 2025.
The company’s net profit from continuing operations also rose to N57.9 billion, compared to N39.9 billion in 2024, representing a 45 per cent increase.
“We surpassed our previous year’s performance, achieving significant growth in both revenue and profitability,” Oyebode said.
He attributed the performance to a strong strategy, disciplined execution, and the commitment of the board, management and staff to sustainable value creation for shareholders.
Oyebode also announced that the Board of Directors paid an interim dividend of N40 during the 2025 financial year, while proposing a final dividend of N15 per share, bringing total dividend payout to N55 per share.
He said the company had maintained a stable and well-controlled security environment across its operations, ensuring uninterrupted production activities.
According to him, operations in the palm and rubber divisions, including processing facilities, residential quarters and administrative units, recorded no significant security disruptions during the period.
Oyebode noted that the AGM marked a major milestone as the company celebrated its golden jubilee, describing 50 years of operations as a reflection of resilience, discipline and strategic vision.
He said Okomu Oil was established in 1976 as a Federal Government initiative to revitalise Nigeria’s oil palm industry, with a plantation covering 15,580 hectares in the Okomu Forest Reserve.
He added that the privatisation of the company in 1990 and its subsequent listing on the Nigerian Stock Exchange marked a turning point towards a commercially driven, shareholder-focused enterprise.
“Since then, strong corporate governance, transparency and accountability have remained central to our operations,” he said.
Oyebode also highlighted the company’s commitment to sustainability and community development, noting that it currently works with 29 host communities through investments in infrastructure and social initiatives.
He said the company had expanded its cultivated plantation to over 34,000 hectares over the past 50 years and now exports its products to international markets, reflecting its evolution into a globally competitive agro-industrial firm.
The Managing Director of the company, Dr Graham Hefer, said Okomu Oil had grown from less than 15,000 hectares to over 34,000 hectares of cultivated plantation over five decades.
He said the company remained committed to further expansion of its oil palm plantations and continued job creation, especially for young Nigerians.
