Zichis Agro-Allied Wins Shareholders’ Nod for N50 Billion Capital Raise
Zichis Agro-Allied Industries Plc has secured shareholders’ approval for a Zichis Agro-Allied N50 billion capital raise, marking a pivotal moment for one of Nigeria’s fastest-rising agribusiness firms. The resolution was passed at the company’s 3rd Annual General Meeting held in Ogun State on April 30, 2026.
Expanding Across Every Front
Shareholders greenlit the plan to raise the funds through debt finance, public offers, rights issues, or a combination of both subject to regulatory approvals from the Securities and Exchange Commission and the Nigerian Exchange Limited. The AGM also approved the issuance of up to N5 billion in commercial paper and a N5.5 billion acquisition of 2,000 acres of land in Ajebo and Ogbere communities, Ogun State, further signalling aggressive expansion across its agribusiness value chain.
Shareholders also approved a final dividend of N0.20 per ordinary share of 50 kobo, alongside a bonus issue of one share for every existing share held. Chairman Hezekiah Adejoh said the payout designed to enhance shareholder value, improve liquidity, and reinforce investor confidence in the company’s long-term growth. The Zichis Agro-Allied N50 billion capital raises expected to ease current supply constraints on the NGX, where the stock has been in high demand since listing in January 2026.
The company closed 2025 with a profit before tax of N364.21 million, a 405% increase year-on-year, while profit after tax surged 478% to N328.06 million. In Q1 2026, revenue hit N420 million up 256% with profit after tax climbing 819% to N228.9 million, according to Nairametrics. The stock, which listed at N1.81 per share, has since risen above N19, making it one of the NGX’s top performers in 2026.
With regulatory approvals now the next hurdle, Zichis appears set to transform shareholder confidence into concrete capital.
