Zichis Agro Allied Plc has announced its intention to list on the Nigerian Exchange Limited (NGX), a move that is expected to further boost the company’s growth and visibility. This development was disclosed by the company’s Chairman, Hezekiah Oshaba, at the second Annual General Meeting (AGM) held in Lagos.
In a show of confidence in the company’s financial performance, the shareholders received a total dividend of N30 million, amounting to 5 kobo per shares for the financial year ended December 31, 2024. This dividend payout underscores the company’s commitment to rewarding its shareholders for their continued support.
Speaking on the company performance, the managing director Antonia Chinyere Akabusi noted that Zichis is scaling up its poultry capacity from 20,000 birds to 100,000 by Q4 2026, projecting over ₦500 million in monthly revenue from egg production.
“The company’s 61-acre estate is yielding strong returns, with plans to expand to 500 acres by 2030 and commence oil milling plant operations by 2026, driving a projected turnover of ₦4.8 billion annually. Expansion from 2 tons to 5 tons per hour will enhance efficiency, reduce costs, and create additional revenue streams”.
Adding that with 20 ponds currently in production, Zichis aims to build a robust business line with a roadmap to 50 ponds, contributing significantly from 2026 onwards.
Highlights of the company financial performance, shows that the company recorded a total turnover of N289 million, marking a substantial 119% increase from N132 million in 2023.