Ellah Lakes Plc’s Chief Executive Officer, Chuka Mordi, has announced plans to expand the company’s oil palm operations with an additional 1,500 hectares set for planting in 2026.

This was revealed in Edo State when a group of senior stockbrokers paid the Ellah Lakes Plant a visit.

Mordi said that the firm will be going into livestock production, allotting 100 hectares of the company’s lad to livestock activities to support operational capacity.

He said the company is stocking up on seedlings and planning similar strategies in other areas to improve operations and efficiency.

Regarding the outlook for the palm oil sector, he added, “We expect demand to continue growing with the population, while existing supply gaps could create opportunities for investment and expansion, benefiting industry players, the wider market, and the national economy.”

Shares of Ellah Lakes have experienced bullish momentum so far this year, reflecting the broader trend among palm oil equities, and have attained a year-to-date performance of 398% on the Nigerian Stock Exchange

Ellah Lakes has had a strong 2025 so far, with H1 marking its best first half since the stock began trading on the Nigerian Exchange.