Ellah Lakes Plc has announced plans to plant 1,500 hectares of oil palm in 2026 as part of its long-term strategy to boost earnings and drive sustainable growth.
In a statement, the Chief Executive Officer of Ellah Lakes, Chuka Mordi, said the expansion would also include the installation of a palm kernel oil mill and the allocation of 100 hectares for livestock activities.
According to him, the projects are designed to bring all the company’s land holdings in Iguelaba into active production and ensure full capacity utilisation of its crude palm oil mill. He added that the company was building up its stock of seedlings to guarantee uninterrupted operations.
He explained, “In 2026, the company plans to plant an additional 1,500 hectares of oil palm, install a Palm Kernel Oil (PKO) mill, and allocate 100 hectares for livestock activities. This will bring all our land holdings in Iguelaba into active production and enable full capacity utilisation of our crude palm oil mill.
“We are currently building up our stock of seedlings to ensure uninterrupted operations. We are also exploring similar forward-planning strategies across other areas of our operations while working to optimise efficiency and productivity.”
Mordi stated that Ellah Lakes remained committed to sustainable value creation for shareholders, stressing that once the company became cash flow positive, its top priority would be the distribution of dividends.
He noted that the company was optimistic about the outlook for the oil palm sector, citing population growth and supply gaps as opportunities for investment and expansion. He added that Ellah Lakes was aligning operations with the Roundtable on Sustainable Palm Oil standards to ensure global best practices in community welfare, labour rights, and environmental stewardship.
During the visit, Executive Director of WCM Capital, Habeeb Amole, who spoke on behalf of the stockbrokers, commended Ellah Lakes for its progress in land acquisition, plantation development, and nursery establishment. He noted that the company’s young and visionary board signalled strong growth potential, making it an attractive option for long-term investors.
