Zichis Agro Allied Industries Plc has acquired 2,000 acres in Ajebo and Ogbere, Ogun State.
The board said the deal supports the company’s medium- to long-term growth strategy in agriculture.
Zichis Strategic Growth
The company plans to focus on oil palm cultivation while inter-cropping maize and cassava alongside seedlings.
As a result, Zichis aims to strengthen its position as a leading player in Nigeria’s agribusiness.
Share Surge And Regulatory Review
The announcement follows NGX suspending trading in Zichis shares to investigate unusual activity.
Since its January 20, 2026 listing, investors pushed the company’s share price up over 800%, attracting attention.
Consequently, NGX suspended trading on February 23, 2026 and will maintain it until investigations conclude.
The board reassured investors that it has disclosed all material information to the public.
It also pledged to comply fully with continuous disclosure rules and notify stakeholders promptly.
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Financial Performance And Future Plans
The company listed 600 million shares at ₦1.81 each, valuing it at approximately ₦1.19 billion.
Qualinvest Capital Limited acted as Lead Issuing House, while Anchoria Investment and Securities Limited served as Lead Stockbroker.
Originally incorporated as Zichis Farms Limited in 2012, the company became public in May 2024.
For the nine months ending September 30, 2025, revenue rose 122% year-on-year to ₦464.1 million.
Meanwhile, profit before tax jumped 364% to ₦201.04 million, and earnings per share increased to ₦0.28.
Chairman Hezekiah Chinyere Oshaba and CEO Antonia Chinyere Akabusi actively lead the company’s operations.
The land purchase demonstrates Zichis’ ambition to expand production and cement its market presence.
The company advised investors to exercise caution while trading shares pending regulatory clarity.
Ultimately, the acquisition underscores Zichis’ long-term vision of growth, innovation, and leadership in agribusiness.
