Zichis Agro-Allied Industries to list on NGX

Zichis Agro-Allied Industries Plc has disclosed plans to list its shares on the Nigerian Exchange Limited (NGX), noting that the Securities and Exchange Commission (SEC) has registered its securities for public trading.

Hezekiah Oshaba, chairman, Zichis Agro-Allied Industries Plc disclosed this at the firm’s second Annual General Meeting held recently in Lagos, where he presented the annual report and accounts.

The company reported 119 percent rise in turnover, moving from N132million in 2023 to N289million in 2024, despite the challenging business environment.

According to Oshaba, “During the year under review, despite the economic pressures and the high cost of production, our company remained resilient. I am pleased to report that our company recorded a turnover of N289million against N132million in 2023, representing a commendable 119 percent increase over the previous year.”

At the meeting, the board of directors got shareholders approval to pay dividend of five kobo per share, with an option for scrip shares for investors who wish to convert their dividend into additional equity.

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Speaking on the company’s growth drive, Antonia Akabusi, Managing Director/Chief Executive Officer, Zichis Agro-Allied Industries Plc highlighted the expansion across various agricultural value chains.

According to Akabusi, Zichis currently operates a poultry capacity of 20,000 birds with plans to scale up to 100,000 by the fourth quarter of 2026, a move projected to generate over N500million in monthly revenue from egg production.

Speaking on plans to list on NGX, the CEO reaffirms commitment to transparency, good governance and shareholder value.

“As we prepare for our listing on the Nigerian Exchange (NGX), we reaffirm our pledge to transparency, good governance, and shareholder value.

“Looking ahead, we will continue to strengthen our workforce, deepen farmer partnerships, and invest in sustainable innovations that guarantee food security and economic impact for Nigeria,” Akabusi said. While adding that the future of Zichis Agro Allied Industries is bright, she called on shareholders for support as the management is poised to build not just a company but a lasting legacy of agricultural excellence for generations to come.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.