Okomu Oil Palm Company

Name

Okomu Oil Palm Company

Legal name

Okomu Oil Palm Company Plc

Website

https://okomunigeria.com

Company type

Public

Founded year

1976

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Palm Oil and Rubber Plantation Production

NAICS

Soybean and Other Oilseed Processing (311224), Oilseed (except Soybean) Farming (11112)

SIC

Fats & Oils (2070), Agricultural Production-Crops (100)

akta.pro primary industry

Palm Oil Milling, Refining & Fractionation (AFAKAEAB)

akta.pro secondary industries

Coconut & Date Palm Plantations (Coconuts, Dates) (AFAGACAH), Tropical Oils & Fractions (Palm, Palm Kernel, Coconut) (AFAJALAD)

Keywords

• Crude palm oil production
• Palm kernel oil refining
• Tropical plantation agriculture
• Natural rubber production
• Sustainable palm oil manufacturing

Headquarters

HQ city

Benin City

HQ country

Nigeria

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Others

Revenue model

1. Palm Oil Products Sales: Okomu generates the majority of its revenue from the production and sale of crude palm oil (CPO) and related palm oil products. Palm oil sales constituted the dominant revenue driver, with 52.35% year-on-year revenue growth in FY2025 driven by elevated global palm oil prices and increased domestic demand. Total CPO sales volume and turnover increased significantly year-over-year.
2. Rubber Products Sales: The company produces and sells dry rubber as a secondary product line. Rubber sales also contributed to revenue growth, though rubber production volumes declined by 8.96% in 2022. Rubber plantation costs increased significantly, reflecting input cost pressures.
3. Smallholder Aggregation and Market Access: Through partnerships with 2-scale and IDH, Okomu aggregates crops from smallholder farmers, providing them a reliable market for their products while expanding the company's raw material sourcing network.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Okomu Oil Palm Company Plc cultivates and processes crude palm oil (CPO), palm kernel oil, and dry rubber from large-scale plantations in Edo State, Nigeria. The company operates 19,011 hectares of oil palm and 7,334 hectares of rubber, producing 74,370 tonnes of palm oil and 9,097 tonnes of dry rubber annually. Products are sold B2B to large industrial manufacturers primarily located in Lagos and eastern Nigeria for use as raw materials in food manufacturing, consumer goods, cosmetics, and industrial rubber applications.

Product overview

Okomu Oil Palm Company Plc operates as a tropical agriculture company with two core product lines: palm oil products and rubber products. The company manages plantations in Edo State, Nigeria, producing crude palm oil (CPO), palm kernel oil, and dry rubber. With four lines of oil palm production producing 135 tons of oil per hour at full capacity, the company is the largest agricultural company listed on the Nigerian Exchange. Palm oil and rubber products are sold to manufacturers and industrial customers domestically.

Differentiator

Problem solved

Functional benefit

Products and services

• Palm Oil Products Crude palm oil (CPO) and palm kernel oil produced from Okomu's 19,011 hectares of oil palm plantation. The company operates four lines of oil palm production with a capacity of 135 tons of palm oil per hour at full capacity, producing 74,370 metric tonnes of palm oil as of 31 December 2024. Sold B2B to large industrial manufacturers for use as raw material in food manufacturing, consumer goods, and cosmetics.
• Rubber Products Dry rubber produced from Okomu's 7,334 hectares of rubber tree plantations. Production reached 9,097 metric tonnes of dry rubber as of 31 December 2024. Sold B2B to industrial customers for use as raw material in industrial rubber applications.

Quantifiable outcome

• Revenue of N198.1 billion in FY2025 (+52.18% YoY)
• +6 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• African Nature Investors (ANI) FoundationcoreStrategic or Co-development Partner · 1 January 2023Okomu Oil has a partnership and MoU with ANI and the Okomu National Park to protect forests, flora, and fauna. ANI has a 30-year contract with the Edo State Government and National Park to preserve Okomu forest reserves, including training over 100 forest officers. ANI is also training rangers to improve forest protection. The partnership aims to combat illegal logging and preserve what remains of the Okomu forests.
• Foremost Development Services (FDS)minorStrategic or Co-development Partner · 1 January 2022In partnership with FDS, RSPO launched its community engagement and outreach programme in Nigeria, committing $300,000 to boost community relations. FDS is a local organisation that works with RSPO and Okomu to foster closer ties with local communities around Okomu's plantation operations.
• 2-scalecoreStrategic or Co-development PartnerOkomu Oil, along with partner IDH, works with 2-scale on a smallholder crop aggregation system in Edo State. Through this program, the company buys crops from smallholder farmers, provides agronomic support, improved planting materials, and transparent competitive pricing, helping farmers improve their livelihoods.
• IDH (Sustainable Trade Investment)coreStrategic or Co-development PartnerIDH (Senior Program Manager Dr. Chris Okafor) partners with Okomu Oil on sustainable trade and smallholder farmer support programs, co-funding and co-implementing the smallholder crop aggregation initiative alongside 2-scale to provide farmers with market access and agronomic training.
• Okomu National ParkcoreStrategic or Co-development PartnerOkomu Oil has an MoU with the Okomu National Park for mutual cooperation. The company has sponsored and donated resources to the National Park over the years, including vehicles, vehicle repairs, fuel, and staff housing. The company supports park rangers and conservation efforts, and has HCVAs that link up with the National Park, allowing wildlife to move between areas.
• Edo State Government / ESOPPcoreStrategic or Co-development PartnerOkomu Oil Palm is a key partner in the Edo State Oil Palm Programme (ESOPP), developed in collaboration with the Central Bank of Nigeria (CBN) to de-risk investment in the oil palm sector. The program aims to bridge Nigeria's 20% oil palm supply gap. Okomu is cited as one of the biggest commercial oil palm companies in the state.
• Roundtable on Sustainable Palm Oil (RSPO)coreStrategic or Co-development PartnerOkomu Oil Palm is an RSPO member (member number 1-0269-19-000-00) and RSPO-certified producer. RSPO sets global standards for sustainable palm oil. RSPO also launched a community outreach programme in Nigeria in partnership with Foremost Development Services (FDS), committing $300,000 to boost community engagement around Okomu's operations.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Sime Darby Plantation Berhad: One of the world's largest palm oil producers with integrated plantation and milling operations across Southeast Asia; offers benchmark for global best practices in certified sustainable palm oil and large-scale tropical agriculture.
• Wilmar International: Global agribusiness group operating one of the largest palm oil supply chains globally, including both plantation ownership and downstream refining. Provides comparison for vertically integrated edible oils business model and downstream value capture.
• Golden Agri-Resources: One of the largest palm oil plantation companies globally, listed in Singapore with operations primarily in Indonesia; provides benchmark on palm oil commodity exposure and integrated downstream margins.
• IOI Corporation Berhad: Malaysian integrated palm oil producer with plantation, milling, and refining operations; comparable in scale to Okomu but globally diversified. Useful as a peer for plantation economics and RSPO-certified production.

Others

• PZ Cussons Nigeria Plc: Nigerian-listed consumer goods manufacturer that purchases palm oil as a key raw material input; serves as a representative downstream customer comparable to Okomu's manufacturer buyers.
• Unilever Nigeria Plc: Major Nigerian-listed consumer goods company that sources palm oil domestically; represents a downstream offtake channel for Okomu's CPO and benchmarks Nigerian consumer goods demand for vegetable oils.

Regional players

• Dangote Group (Agribusiness): Largest Nigerian conglomerate with growing agribusiness and commodities exposure; operates as a scaled Nigerian competitor and partner across the agricultural value chain, providing comparison for Nigerian-listed commodity producer economics.
• BUA Foods Plc: Major Nigerian food and agribusiness conglomerate listed on the Nigerian Exchange; overlaps with Okomu as a vertically integrated Nigerian agribusiness serving domestic manufacturing/consumer markets.

Direct peers

• Presco Plc: Presco is a Nigerian-listed oil palm plantation and processing company, also based in Edo State and the other anchor ESOPP partner alongside Okomu. Operates similar palm oil milling capacity for the same Lagos-based industrial buyer base.
• SOCFIN (Société Financière de plantations): Parent company/affiliate of Okomu, SOCFIN operates tropical agriculture plantations (oil palm and rubber) across multiple African countries with identical RSPO-certified production methods and similar plantation management approach.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/i/flow/login?redirect_after_login=%2Fokomuoilpalmcoy
• YouTubeyoutube.com/channel/UCAMG3pumEMS4RgwbJtAP2Ng
• Facebookfacebook.com/okomuoil
• LinkedInlinkedin.com/company/okomu-oil-palm-plc-okomuoil-

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Okomu Oil Palm Company