Zichis Agro Allied Industries Plc has listed 600 million ordinary shares by introduction on the Nigerian Exchange Limited (NGX) Growth Board, with the ticker name ZICHIS.
The listing, which places the Ogun State-based agribusiness on the NGX Growth Board, is expected to enhance share liquidity, strengthen corporate governance, and improve investor participation, as the company deepens its footprint in poultry, crop farming, aquaculture, oil palm cultivation, and animal feed production.
The company was listed on Tuesday at N1.81 per share.
On Wednesday’s trading session, Zichis Agro’s shares gained 9.55 percent to close at ₦2.18 per share on the Exchange, reflecting early positive market sentiment following the listing.
Speaking at the company’s “Facts Behind the Listing” event held in Lagos on Monday, Chairman, Hezekiah Oshaba, described the development as a strategic step toward building a scalable and integrated agribusiness model capable of supporting food security and economic development in Nigeria.
According to him, the NGX listing will enhance transparency, boost market visibility, and provide a stronger platform to drive the company’s next phase of growth through backward and forward integration.
Management further disclosed plans to expand livestock farming, crop production, feed processing, and estate farming operations, positioning the company to create sustainable long-term value for shareholders and stakeholders in a sector that plays a critical role in Nigeria’s food supply chain.
“Our listing on the NGX Growth Board reflects our strategic commitment to building a scalable and integrated agro-allied business that contributes to food security and economic development,” Oshaba said. He added that the milestone would strengthen transparency, improve market visibility, and support the company’s growth ambitions.
Financial Performance
For the nine months ended 30 September 2025, Zichis Agro recorded revenue of ₦464.1 million, representing a 122 percent year-on-year growth from ₦209.2 million posted in the corresponding period of 2024.
Egg sales emerged as the company’s largest revenue driver, generating ₦176.2 million during the period. This was followed by palm oil products, which contributed ₦102.3 million.
Sales from feed mill products stood at ₦88.6 million, while chicken and fish sales accounted for ₦71.2 million and ₦25.6 million, respectively.
Although the cost of sales rose by 67.35 percent to ₦212.8 million, Zichis Agro delivered a strong performance at the gross profit level, recording ₦251.3 million.
Profit before tax surged to ₦201.04 million, reflecting a 364 percent year-on-year increase, while earnings per share improved significantly to ₦0.28 from ₦0.06 recorded in the prior year period.
About the company
Zichis Agro-Allied Industries Plc is an integrated agribusiness company incorporated in 2012 and converted to a public limited company in 2024. The company operates across multiple agricultural value chains, including oil palm farming, poultry production, fish farming, animal feed manufacturing, and crop cultivation.
Its operations began with an 18-hectare oil palm plantation and have expanded to approximately 61 acres (25 hectares). Zichis Agro has also outlined a long-term expansion plan to scale its farmland to 1,000 hectares by 2030 in line with Nigeria’s growing food and agribusiness demand.
Currently, the company runs poultry facilities with 20,000 layers and 20,000 growers, operates 22 fish ponds, and owns an animal feed mill undergoing upgrades to achieve a production capacity of five tons per hour. Its product portfolio includes table eggs, day-old chicks, palm fruits, and animal feed.
As part of its medium-term growth strategy, Zichis Agro plans to establish oil processing and vegetable processing plants by 2026.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
