Okomu Oil’s Profit Skyrockets 113% to N60.33Billion in Nine Months on Revenue Surge

Okomu Oil Palm Company Plc, a major player in Nigeria’s agro-industrial sector, has reported a spectacular financial performance for the nine months ended September 30, 2025, with its Profit After Tax (PAT) soaring by a massive 113% year-on-year to N60.33 billion. This impressive figure more than doubles the N28.34 billion recorded in the corresponding period of 2024.

The remarkable bottom-line growth was underpinned by a robust increase in its top-line earnings. The company’s unaudited interim financial statements reveal that Turnover (Revenue) surged by 67%, climbing to N173.95 billion from N103.95 billion a year earlier.

The primary engine of this success was the high domestic and export prices for crude palm oil and rubber, coupled with enhanced production volumes. This favorable market dynamic, set against tight global supply and a push for import substitution in Nigeria, provided Okomu Oil with significant pricing power.

Operational efficiency was also a major contributor to the profit surge. The increase in the Cost of Sales (39%) was significantly slower than the rate of revenue growth, enabling Gross Profit to jump by 89% to N112.08 billion. Furthermore, the company demonstrated improved financial discipline, with finance costs decreasing by a sharp 73%, underscoring effective debt management and a lean financing profile.

Profit Before Tax (PBT) also reflected the strong operating performance, more than doubling to N84.10 billion, representing a 107% growth from N40.68billion in 9M 2024. The strong results have already led the company to declare a significant interim dividend, reinforcing management’s commitment to delivering enhanced shareholder value. Analysts view Okomu Oil’s performance as a testament to the defensive strength and resilience of Nigeria’s agricultural export sector against a backdrop of macroeconomic headwinds.