By Basiru Sekinat & Faith David

Okitipupa Oil Palm Plc, under the leadership of its new core investor, Pink Nominee Ltd (PNL), has entered 2025 with groundbreaking initiatives.

As part of an ambitious modernisation project, the company has acquired four state-of-the-art mills to be installed across some of its eight plantations located in three local government areas of Ondo State.

The first and second mills were built 50 and 34 years ago, respectively, with no additional installations since then.

To complement the new mills and ensure a sustainable supply of raw materials, the company has finalised plans to plant nearly 750,000 to 1,200,000 high-yield oil palm seedlings across its 5,000-hectare greenfield. This initiative will be officially launched by the Ondo State Governor, Dr Lucky Orimisan Aiyedatiwa, during the second quarter of 2025.

In line with the Board’s directive, the new mills will be installed at the Ikoya, Apoi, Ilutitun, and Iyansan Plantation Estates.

OOP Plc has also developed a comprehensive Corporate Social Responsibility (CSR) programme to positively impact its host communities.

The Managing Director, Mr Taiwo Adewole, stated that these measures are part of a strategic vision to reposition the company as a major player in the oil palm value chain.

The initiative also includes the redevelopment of its existing 8,000-hectare brownfield, replacing ageing plantations with young, high-yielding seedlings. This strategy aims to position the company as a leader in Nigeria’s oil palm industry.

Under the guidance of its newly reconstituted Board, the company has successfully been listed on the NASD trading platform, paving the way for a relisting on the Nigerian Stock Exchange. This milestone has driven a remarkable 400% growth in the company’s share price since its initial listing in June 2024.

Notably, PNL, having acquired a controlling interest in OOP Plc, has swiftly reestablished good corporate governance practices. This commitment to progress is evident in the extraordinary transformation of the company’s operations and business activities.