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Okomu Oil’s share price in record four-fold increase

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Managing Director, Okomu Oil Palm Company, Dr. Graham Hefer

Managing Director of Okomu Oil Palm Company, Dr. Graham Hefer, has commended the Edo State Government for her commitment in ensuring a business friendly environment for the smooth operations of the company.

He gave the commendation yesterday during the commissioning of the company’s Extension 2 plantation in Ovia North East/ Uhunmwonde Local Government Council in the state by Governor Godwin Obaseki.

Hefer said:” Okomu provide opportunity for more than 14,000 Nigerian shareholders to own a part of this company. The success of the company has been further exemplified by the strong increase of its net income, which has resulted in a four-fold increase in the company’s share price since 2012 and the payout of annual dividend.

“Your Excellency’s commitment to a business friendly environment, along with that of your predecessor, Comrade Oshiomhole, whose vision gave rise to what you see today on ground, has provided the impetus for bringing the promise of 200,000 jobs in Edo State within government’s reach.”

Chairman, Board of Directors, Okomu Oil Palm, Mr. Gbenga Oyebode, said the company has demonstrated its commitment to creating jobs following the expansion of the plantation’s Extension 2, which according to him, has grown exponentially and employed over 2,000 people.

According to him, the expansion of the plantations is a true testimony of the future development of Edo State.

“Currently, the company operates two 30t/hr oil mills and has commenced the building of another two mills, which will be commissioned from 2020 on Extension 2,” he said.

He added that the massive business investment by the company was achieved in responding to the government’s change in policy from a solely oil-based economy to an agro-based one.

Oyebode noted that Okomu Oil Palm is situated on 33,000 hectares of land, all in Edo State, and is ranked 10th among listed companies with the largest turnovers quoted on the Nigerian Stock Exchange (NSE).

Commissioning the new plantation, Obaseki applauded the developmental strides of the management team of Okomu Oil Palm Company. He added that the new plantation extension 2 would compliment government efforts in creating jobs.


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