Okomu Oil

Okomu Oil Palm Company Plc is a Nigeria-based company that is involved in oil palm plantations, palm kernel processing, and rubber plantations.

Okomu Oil produces crude palm oil, palm kernel, palm kernel oil, and palm kernel cake. In 2023, Okomu Oil's revenue grew by 26.61% year-over-year to N75.108 billion.[1] The company's pre-tax profit grew by 44% year-over-year to N33.839 billion in 2023.[2]

Okomu Oil and Presco Oil are the two largest producers of palm oil in Nigeria, with Okomu Oil holding a significant market share. Okomu Oil is majority-owned by Socfinaf S.A., a Belgian company, with a 62.94% stake.[3]

Okomu Oil has three concessions in Nigeria, with a total planted area of 33,112 hectares.

In 2024 a militant group attacked the company, killed three workers and demanded 25% of the company's shares.[4]

References
  1. Aja, Idika (2024-05-16). "Okomu Oil Vs. Presco Oil: Data shows one company outdid the other in 2023". Nairametrics. Retrieved 2024-05-16.
  2. "Okomuoil | Okomu Oil Palm - FY 2023 Quick take: Strong Revenue growth across all business segments drives profitability". hub.african-markets.com. Retrieved 2024-05-16.
  3. Owoeye, Olufikayo (17 April 2020). "Okomu Oil plc: Reaping gains of consistent investment in Nigeria's agribusiness value chain".
  4. Udi, Aghogho (2024-05-14). "Militant group demands 25% of Okomu Oil Plc shares after fatal attack on host community". Nairametrics. Retrieved 2024-05-16.
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