Zichis Agro Allied Industries projects 1,000 hectares of farmland by 2030
Amid its expansion plans, Zichis Agro Allied Industries Plc said it targeted a 1,000 hectares of farmland by 2030.
The management in a statement obtained by WESTERNPOST stated that its vision is taking root in the heart of the soil, stressing that it dreams to expand from an 18-acres to 61 acres of thriving green gold.
The management noted it powers the industry with its upgraded 5-ton per hour feedmilling plant that meets the hunger of the nation, while Day-Old Chicks give farmers a head start.
“By 2026, our new oil milling plant for edible oil will take Nigerian quality to the global export market. Zichis Agro Allied Industries. Investing in the land, securing the plate, and building the future of Nigerian Agribusiness.
“At Zichis Agro Allied Industries, we are redefining Nigeria’s agricultural landscape. We aren’t just a farm; we are a fully integrated agro-allied industrial powerhouse, “the management stated.
The company located at Imegun Village Ijebu Itele Ogun State, Nigeria said it poised to lead the charge towards Nigeria’s food security.
Zichis Agro Allied Industries recently completed agreement to List by Introduction a N1.09 billion shares on the floor of the Nigerian Exchange Limited (NGX).
The agro-allied company is planning a listing by introduction on the growth board of NGX a 600 million ordinary shares of N0.50 each at N1.81 kobo per share, translating into N1.09 billion.
At the signing, the Board Chairman, Zichis Agro-allied Industries, Mr. Hezekiah Oshaba, promised that the organisation would be guided by best corporate practice when listed on the NGX.
Oshaba said, “As a board, we will be guided by the best corporate practice. By the time we are listed, we will follow all the guidelines that we are supposed to follow and ensure that our investors don’t have any regret in the long run.
“As businessmen that we all are, if you put your money anywhere, you expect returns, and that’s the essence of all of it anyway.
“Be rest assured that as board members, and even the management team, we are poised to take you to another level. As it has already been said, the NGX is growing in leaps and bounds, and everybody, as it were, wants to tap from the growth.”
Speaking also, the Managing Director, Zichis Agro-allied Industries, Mrs. Anthonia Akabusi, stated the company’s transition from a limited to a public limited company is a remarkable journey.
“The transition is a journey of resilience and scalability. Zichis Agro-allied Industries listing on the NGX is a starting point. We are promising investors, stakeholders and regulators that the management is not going to disappoint in transparency and consistent filing of reports
“We are ready to learn, and adjust to listing requirements of the regulators. Our communication team is ready to listen and make corrections when necessary. We promise to execute our strategy once listed on NGX. What we present to stakeholders is what the management is going to practice. Our shareholders value is what we are holding onto and we promise not to disappoint.”
The company in financial year ended December 31, 2024 declared turnover of N289million, about 119 per cent increase over N132 million recorded in 2023.. the company, however, closed 2024 with a profit of N56.7 million, about 238 per cent increase when compared to N16.8 million in 2023.
In the year under review, the company declared and got shareholders approval for a dividend of 5kobo per share with an option for script shares in lieu for who elect to opt for script shares.
