Zichis Agro Allied Industries Plc has announced a N2 billion non-equity capital injection from its core promoters, Chilla Entertainment Limited and Winners Investment & Trust Limited, as part of its broader N50 billion growth and expansion programme.
The development was disclosed in a statement signed by the company’s Managing Director/Chief Executive Officer, Akabusi Anthonia Chinyere, and Executive Director, Finance & Strategy, Chris A. Ogbaisi.
According to the company, the funding commitment marks a significant milestone in its long-term strategy to build a fully integrated agribusiness platform spanning feed production, poultry farming, palm cultivation, and agro-processing.
The company stated that the fresh capital injection underscores the promoters’ confidence in Zichis Agro’s vision, growth prospects, and value creation strategy.
The company explained that the funding would be treated as a senior long-term liability on its balance sheet and may be converted to equity during a future public offer or rights issue.
Zichis Agro said the newly injected funds would be deployed to expand operational capacity and strengthen its working capital position.
The latest funding follows shareholder approval obtained at the company’s third Annual General Meeting (AGM) to raise up to N50 billion through a combination of equity and debt financing.
As part of the approved expansion plan, shareholders authorised the issuance of 400 million ordinary shares through a special placement to finance the acquisition of 2,000 acres of land in Ogun State valued at N5.5 billion.
The company also received approval to raise up to N5 billion through commercial papers and other debt instruments, while increasing its share capital by N1 billion to accommodate future equity issuances.
The company plans to increase poultry production capacity, deepen integration across its livestock value chain, and improve operational efficiency to meet rising market demand.
Part of the funding will support increased procurement of raw materials to boost feed mill production volumes and strengthen supply chain operations within Nigeria’s livestock and poultry sectors.
The company will also accelerate development of its newly acquired 2,000-acre agricultural estate in Ogun State. Land-clearing activities have already commenced across the Ogbere and Ajebo axes, with the project expected to significantly enhance the company’s agricultural asset base and long-term revenue potential.
Zichis Agro said the latest capital injection aligns the interests of management, promoters, and shareholders toward building a scalable and profitable agribusiness enterprise.
