Abuja: Okomu Oil Palm Company Plc has announced a significant increase in its total revenue from palm products, reaching N172.6 billion in 2025. This marks a 60.5 percent rise compared to the previous year.
According to News Agency of Nigeria, the Chairman of Okomu Oil Palm Company, Mr. Gbenga Oyebode, shared these figures during the company’s 46th Annual General Meeting (AGM) and 50th anniversary celebration held in Abuja. The company also reported a cost of sales for the year at N112.339 billion, which is a substantial 175.3 percent increase from 2024.
Oyebode highlighted that the company achieved a gross profit of N123.346 billion, reflecting a 93 percent increase from the previous year, and its profit from continuing operations rose to N88.798 billion, a 103 percent increase over the corresponding period. The rubber segment also demonstrated strong performance, with a total turnover of N198.2 billion, marking a 52 percent increase year-on-year.
The consolidated cost of sales saw a rise of about 27.6 percent, while consolidated gross profit increased by 79.5 percent, climbing from N78.5 billion in 2024 to N141 billion in 2025. The company’s net profit from continuing operations also grew to N57.9 billion, a 45 percent rise compared to N39.9 billion in 2024.
Oyebode attributed the strong performance to a robust strategy, disciplined execution, and the board, management, and staff’s commitment to sustainable value creation for shareholders. He announced that the Board of Directors had paid an interim dividend of N40 during the 2025 financial year and proposed a final dividend of N15 per share, bringing the total dividend payout to N55 per share.
He further mentioned that the company maintained a stable and secure operational environment, ensuring uninterrupted production activities. No significant security disruptions were recorded in the palm and rubber divisions, including processing facilities, residential quarters, and administrative units.
The AGM was noted as a significant milestone, marking the company’s golden jubilee. Oyebode reflected on 50 years of operations as a testament to resilience, discipline, and strategic vision. Established in 1976 as a Federal Government initiative, Okomu Oil was privatized in 1990 and listed on the Nigerian Stock Exchange, transforming into a commercially driven, shareholder-focused enterprise.
Oyebode emphasized the importance of strong corporate governance, transparency, and accountability in the company’s operations. He also highlighted Okomu Oil’s commitment to sustainability and community development, working with 29 host communities through investments in infrastructure and social initiatives.
Dr. Graham Hefer, Managing Director, noted the expansion of Okomu Oil’s cultivated plantation from less than 15,000 hectares to over 34,000 hectares over the past five decades, with exports to international markets showcasing its evolution into a globally competitive agro-industrial firm.