Ellah Lakes Plc has announced plans to expand its oil palm operations in 2026 by planting an additional 1,500 hectares of oil palm. Alongside this expansion, the company will install a Palm Kernel Oil (PKO) mill and allocate 100 hectares of farmland for livestock development. These initiatives are part of Ellah Lakes' growth strategy aimed at boosting operational capacity, optimizing the utilization of its Crude Palm Oil (CPO) mill, and strengthening its earnings base.
The CEO, Chuka Mordi, emphasized building up the stock of seedlings to ensure uninterrupted operations and applying forward-planning strategies to improve efficiency and productivity. The company is also committed to aligning its operations with global sustainability standards, including those set by the Roundtable on Sustainable Palm Oil (RSPO), which focus on environmental stewardship, community welfare, and labor rights.
Ellah Lakes is optimistic about the growing demand for palm oil driven by population growth and supply gaps, viewing the expansion as a significant opportunity for long-term value creation and enhanced shareholder returns. The company is also on track to become cashflow positive, after which it intends to prioritize dividend payments to shareholders.
Overall, this expansion effort underscores Ellah Lakes’ commitment to sustainable growth and operational excellence in the Nigerian oil palm sector.
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