Ellah Lakes eyes Edo, Sapele, Warri for dominance in pork meat supply

CEO Mordi tells visiting stockbrokers
Targets 5000MT annual production

Onome Amuge

Ellah Lakes PLC has set its sights on producing 5000 metric tonnes of pork meat annually, positioning the company as a primary source of Pork products for the Edo, Sapele, and Warri axis.

The milestone is set to be achieved following the successful completion of phase one of the piggery project in Edo State, which is a crucial part of the company’s five-year strategy to diversify its agribusiness and expand its footprint in the agricultural sector.

Chuka Mordi, managing director and chief executive officer, stated this recently when the company hosted a delegation of stockbrokers who paid a visit to the company’s facilities in Iguelaba Community, Edo State.

“Ellah Lakes Plc’s strategy is to be a successful diversified Agribusiness over the next 5 years, eventually going all the way along the value chain, to consumer goods. Liquidity has increased greatly throughout the year, and we are very happy with this. We are trading at a huge discount to Net Asset Value (NAV), but we are comfortable that our shareholders will see significant upside, going forward.

“As a defensive sector, our sector is probably the most resilient on the market, and we expect this to be demonstrated to the market, as we continue on our growth trajectory,” Mordi stated.

The delegation of stockbrokers, led by Muyiwa Adeyemi, the managing director, Atlas Portfolio, observed major investments in palm plantation and pig farming, which they believe will contribute significantly to Ellah Lakes PLC’s revenue streams. They expressed confidence in the management’s decision to explore opportunities in the agricultural sector, commending their foresight and commitment to sustainable growth.

Adeyemi, speaking on behalf of the stockbroker delegation, declared that the visit has reinforced their faith in Ellah Lakes PLC’s management team and their capability to deliver value to shareholders.

“We are pleased to see Ellah Lakes PLC’s proactive approach to diversifying its operations and positioning itself for long-term success. The investments in the palm plantation and livestock demonstrate the company’s focus on sustainable growth and its potential to enhance shareholder value,” he said.

The Stockbrokers also expressed optimism that Ellah Lakes’ investments would soon begin to reflect positively on its bottom line, driven by increasing demand for palm oil and livestock products.

Ellah Lakes PLC, is reputed as the first agribusiness company to be listed on the NGX. The Company’s target is to build an agro-industrial park over the next five years to consolidate the company’s primary production base whilst enhancing investment attraction as a multi-asset player.

With a transaction of 572 million Ordinary Shares in 3,097 deals , valued at N1.72 billion from June 24 – September 19, 2024, Ellah Lakes is the 17th most traded stock on the Nigerian Exchange (NGX).