Okomu Oil Palm Company Plc is a Nigeria-based company that is involved in oil palm plantations, palm kernel processing, and rubber plantations.
Company type | Public |
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Industry | Agriculture, Palm Oil, Rubber |
Headquarters | Nigeria |
Products | Crude Palm Oil, Palm Kernel, Palm Kernel Oil, Palm Kernel Cake, Rubber |
Revenue | ₦75.108 billion (2023) |
Owner | Socfinaf S.A. (62.94% stake) |
Okomu Oil produces crude palm oil, palm kernel, palm kernel oil, and palm kernel cake. In 2023, Okomu Oil's revenue grew by 26.61% year-over-year to N75.108 billion.[1] The company's pre-tax profit grew by 44% year-over-year to N33.839 billion in 2023.[2]
Okomu Oil and Presco Oil are the two largest producers of palm oil in Nigeria, with Okomu Oil holding a significant market share. Okomu Oil is majority-owned by Socfinaf S.A., a Belgian company, with a 62.94% stake.[3]
In 2024 a militant group attacked the company, killed three workers and demanded 25% of the company's shares.[4]
References
edit- ^ Aja, Idika (2024-05-16). "Okomu Oil Vs. Presco Oil: Data shows one company outdid the other in 2023". Nairametrics. Retrieved 2024-05-16.
- ^ "Okomuoil | Okomu Oil Palm - FY 2023 Quick take: Strong Revenue growth across all business segments drives profitability". hub.african-markets.com. Retrieved 2024-05-16.
- ^ Owoeye, Olufikayo (17 April 2020). "Okomu Oil plc: Reaping gains of consistent investment in Nigeria's agribusiness value chain".
- ^ Udi, Aghogho (2024-05-14). "Militant group demands 25% of Okomu Oil Plc shares after fatal attack on host community". Nairametrics. Retrieved 2024-05-16.