NEW CORE INVESTOR - PINK NOMINEE LIMITED DRIVES ACCELERATED GROWTH IN OKITIPUPA OIL PALM PLC WITH ACQUISITION OF FOUR HIGH-TECH MILLS, 50 YEARS AFTER ITS FIRST MILL WAS INSTALLED . (1974)
Okitipupa Oil Palm Plc, under the leadership of its new core investor, Pink Nominee Ltd (PNL), has entered the year 2025 with groundbreaking initiatives:
- an ambitious modernization project with the acquisition of four state-of-the-art mills across its plantations located in eight communities across three Local Government Areas of the Ondo State. The first and second mills were built 50 and 34 years ago respectively, with no additional investment since then.
To complement the installation of the new mills and ensure a sustainable primary feeder for them, the company has finalized plans to plant nearly 750,000 and 1,200,000 young, high-yield oil palm seedlings on its 5,000-hectare greenfield. and 8,000 hectares of brownfield for redevelopment respectively. This initiative will be flagged off by the Ondo State Governor, Dr. Lucky Orimisan Aiyedatiwa during the second quarter of 2025.
OOP Plc has also developed a new Corporate Social Responsibility (CSR) initiative to positively impact the host communities.
In line with the Board’s directive, the newly acquired mills would be installed at the Ikoya, Apoi, Ilutitun , and Iyansan Plantation Estates.
The Managing Director,
Mr. Taiwo Adewole, stated that these achievements are part of a strategic vision to reposition the company as a major player in the oil palm value chain.
The initiative will also include the redevelopment of an 8,000-hectare brownfield, positioning the company as a leader in the oil palm industry in Nigeria.
Under the leadership of the newly reconstituted Board, the company has been successfully listed on the NASD trading platform as a prelude to relisting on the Nigerian Stock Exchange. This milestone has driven a 400% growth in the company’s share price since its initial listing in June 2024.
It is worth noting that PNL, having successfully acquired a controlling interest in OOP Plc, has moved swiftly to establish good corporate governance practices. This commitment to progress is reflected in the extraordinary transformation of the company’s business activities.
Okitipupa Oil Palm Plc, under the leadership of its new core investor, Pink Nominee Ltd (PNL), has entered the year 2025 with groundbreaking initiatives:
- an ambitious modernization project with the acquisition of four state-of-the-art mills across its plantations located in eight communities across three Local Government Areas of the Ondo State. The first and second mills were built 50 and 34 years ago respectively, with no additional investment since then.
To complement the installation of the new mills and ensure a sustainable primary feeder for them, the company has finalized plans to plant nearly 750,000 and 1,200,000 young, high-yield oil palm seedlings on its 5,000-hectare greenfield. and 8,000 hectares of brownfield for redevelopment respectively. This initiative will be flagged off by the Ondo State Governor, Dr. Lucky Orimisan Aiyedatiwa during the second quarter of 2025.
OOP Plc has also developed a new Corporate Social Responsibility (CSR) initiative to positively impact the host communities.
In line with the Board’s directive, the newly acquired mills would be installed at the Ikoya, Apoi, Ilutitun , and Iyansan Plantation Estates.
The Managing Director, Mr. Taiwo Adewole, stated that these achievements are part of a strategic vision to reposition the company as a major player in the oil palm value chain.
The initiative will also include the redevelopment of an 8,000-hectare brownfield, positioning the company as a leader in the oil palm industry in Nigeria.
Under the leadership of the newly reconstituted Board, the company has been successfully listed on the NASD trading platform as a prelude to relisting on the Nigerian Stock Exchange. This milestone has driven a 400% growth in the company’s share price since its initial listing in June 2024.
It is worth noting that PNL, having successfully acquired a controlling interest in OOP Plc, has moved swiftly to establish good corporate governance practices. This commitment to progress is reflected in the extraordinary transformation of the company’s business activities.
