Ellah Lakes Powers Up Agribusiness Empire with Major Buyout and N235 Billion Cash Call

Nigeria's rising star in the agribusiness world, Ellah Lakes Plc, is making waves with a bold move to supercharge its growth. The company just unveiled plans to snap up full control of Agro-Allied Resources & Processing Nigeria Ltd (ARPN) while rolling out a hefty N235 billion public offer. These steps signal a sharp focus on ramping up production and carving out a bigger slice of the country's bustling farm-to-table sector.

At the heart of this expansion lies ARPN's impressive land holdings: a sprawling 11,783 hectares already under cultivation, split between 6,280 hectares of oil palm groves and 2,093 hectares dedicated to cassava fields. That's on top of another 10,393 hectares of raw land primed for future development. Right now, about 60 percent of the oil palm areas are pumping out yields, with 30 percent more on the verge of hitting peak productivity. This setup promises a steady stream of revenue from day one, giving Ellah Lakes a solid foundation to build on.

Chuka Mordi, the company's driven CEO, laid out the vision during a lively press briefing. "Our plan is straightforward: we're grabbing hold of prime agricultural assets, cranking up our livestock operations, and locking in off-take deals to keep the cash flowing without a hitch," he said. "This isn't just about growth; it's about delivering real, tangible wins for everyone involved right away."

Mordi didn't stop there. He zeroed in on cassava's hidden strengths, pointing out how it acts as a quick-win crop that funds longer-term bets like untouched land plots. "With a cycle of just 12 to 18 months, cassava keeps things balanced while oil palm takes its time—three or four years—to mature," he explained. And the opportunity? Massive. Nigeria churns out 60 million tonnes of cassava each year, yet fewer than 10 percent gets turned into high-quality cassava flour. "That's a goldmine waiting to be tapped," Mordi added, his enthusiasm lighting up the room.

This powerhouse pairing is set to turbocharge Ellah Lakes' footprint, blending immediate income with smart, sustainable scaling. For investors and industry watchers, it's a clear sign that Nigeria's agribusiness scene is heating up, with Ellah Lakes leading the charge toward a more robust, self-reliant future.