Ellah Lakes Plc has obtained approval from the Securities and Exchange Commission (SEC) to proceed with its N235 billion public offer. The offer opens on November 10, 2025.
The offer will see the agribusiness company issue 18 billion new shares. This will fund the acquisition of Agro-Allied Resources and Processing Nigeria Limited (ARPN). This deal is expected to transform Ellah Lakes into a vertically integrated agro-industrial powerhouse.
Ellah Lakes Managing Director Chuka Mordi described the planned offer as “a definitive statement of intent.” He noted that the funds will strengthen the company’s financial capacity and reinforce its leadership in Nigeria’s agro-industrial space.
“This raise will enable us to consolidate our position as the undisputed leading indigenous agro-industrial giant in West Africa,” Mordi said. He added that proceeds will support the ARPN acquisition and post-merger integration. This includes investments in refining and downstream processing.
Deputy Managing Director Paul Farrer disclosed that a 20-tonne-per-hour mill would be installed at ARPN’s Edo State facility. It will complement Ellah Lakes’ existing 6-tonne-per-hour oil palm mill in Iguelaba. He described the capital raise as critical to scaling operations, improving efficiency, and unlocking value across the company’s agricultural supply chain.
According to Mordi, the SEC approval represents “the start of a new growth era” for the firm.
“We are building scale and strengthening our financial base. We are laying a foundation for Nigeria’s agricultural industrialisation,” he told journalists during a media briefing in Lagos.
The offer is expected to attract strong investor interest given Ellah Lakes’ recent expansion drive and the growing appeal of agribusiness as a diversification pillar in Nigeria’s economy.
