KEY POINTS
- Okomu Oil’s profits double because of high demand for palm oil.
- Sales of palm and rubber go up, which makes revenue go up by 67 percent.
- Costs of financing go down a lot, which makes everything work better.
Okomu Oil Palm Plc, which used to be a small plantation and is now a big agro-industrial company registered on the stock exchange and run by Nigerian lawyer and businessman Gbenga Oyebode, said that its profits rose sharply in the first nine months of 2025.
The company’s revenue grew by 67 percent from N103.95 billion ($70.8 million) a year earlier to N173.95 billion ($118.5 million). This was due to more sales of palm oil, palm kernel oil, palm kernel cake, banga, and rubber cup lumps. After taxes, profit more than doubled to N60.33 billion ($41.1 million). This was due to better cost control and higher efficiency.
Okomu Oil makes its business and finances stronger
The company’s costs were within its budget, and its financing costs dropped from N8.75 billion ($5.96 million) to N2.32 billion ($1.58 million).
Okomu Oil, which runs around 19,000 hectares of oil palm farms and makes about 74,000 tonnes of palm oil a year, said that disciplined management was to blame for the rise in profits.
Its rubber business, which covers 7,334 hectares and produces more than 9,000 tonnes of dry rubber, is still a good way to protect itself against changes in the price of palm oil.
Okomu Oil’s profits double as the company grows
Okomu Oil continues to support the economies of Edo State, employing more over 7,400 people directly and indirectly. Oyebode, who owns 4.37 percent of the company (41.67 million shares worth N42.5 billion, or $28.7 million), has overseen consistent growth and a healthier balance sheet.
According to Billionaires Africa, as of September 30, 2025, the company’s total assets had grown from N76.99 billion ($52.4 million) at the end of 2024 to N86.47 billion ($58.6 million). Retained earnings rose to N60.87 billion ($41.5 million), and net assets rose to N62.4 billion ($42.5 million).
