Ellah Lakes bets on PKO processing, piggery expansion to boost cash flows

Ellah Lakes Plc has acquired key equipment for its planned Palm Kernel Oil (PKO) mill and expanded its livestock operations beyond 1,000 pigs as the agribusiness company intensifies efforts to build multiple revenue streams and strengthen its integrated agricultural platform.

The company said it had purchased the first set of expellers and presses for the PKO mill, with installation expected to be completed by the end of the third quarter of 2026. Commercial production of palm kernel oil and palm kernel cake (PKC) is expected to commence thereafter, the agribusiness firm disclosed in a statement.

The move marks Ellah Lakes’ latest step towards deepening value addition within its oil palm business, allowing the company to capture more value across the agricultural value chain while reducing its dependence on raw commodity sales.

At the same time, the company’s piggery operation has crossed the 1,000-head mark, positioning it among the larger pig farmers in Edo State. Livestock has emerged as a strategic business line for the company, providing near-to-medium-term cash flow while its plantation assets continue to mature.

Ellah Lakes has also begun selling gilts, opening an additional source of revenue and broadening its livestock value chain.

The company plans to install an abattoir and cold chain facility as part of the next phase of expansion. According to management, the facilities will support larger-scale piggery operations, improve processing capacity, and strengthen access to markets.

“These milestones reflect the continued execution of our strategy to build Ellah Lakes into a more integrated and commercially resilient agribusiness platform,” said Chuka Mordi, chief executive officer of Ellah Lakes.

“The acquisition of equipment for our PKO Mill advances our move into higher-value processing, while the growth of our piggery operations strengthens an important cash-generating vertical within our business model,” he said.

Mordi noted that as the company’s plantation assets mature, management is focused on expanding operating verticals that can broaden the revenue base, improve value capture and support more stable cash flows.

Founded in 1980 as a fish farming enterprise, Ellah Lakes underwent a strategic transformation in 2019 following the acquisition of Telluria Limited. Since then, the company has been building a diversified portfolio spanning oil palm, cassava, maize, and soybean production, alongside processing opportunities in edible oils and animal feed.