History

Establishment of the plantation by the Federal Government in a de-reserved area of the Okomu Forest Reserve with an initial surveyed area of 15 580 hectares, out of which 12 500 hectares could be planted. The remainder of the area was left as a conservation area.

Incorporation as a Limited Liability Company by the Federal Government.

Acquisition and installation of a 1.5 T Fresh Fruit Bunch (FFB)/h oil mill by the Federal Government.

Planting of 5 500 ha of oil palm and construction of critical infrastructure such as staff quarters, schools, and clinics.

Privatization by the Technical Committee on Privatization and Commercialization (TCPC) on behalf of the Federal Government of Nigeria.  Shares are sold to the public and the Company becomes registered on the Nigerian Stock Exchange.

Acquisition of 6 116 ha known as Extension 1.

Planting of 1 969 ha of oil palm and 1 811 ha of rubber on Extension 1.

Commissioning of a 2.5 T/h rubber processing plant to complement the Company’s rubber plantations.

Expansion of the 30 T/h oil mill to a 60 T/h oil mill, allowing the Company to produce more than 40 000 T of CPO/annum.

Acquisition of 11 416 ha of land and a 10 T/h oil mill from Hartman Ltd, in the Ovia NE LGA/Uhunmwonde LGA, including 664 ha of cultivated oil palm. The acquisition is named Extension 2.

Establishment of a 50 ha palm nursery in Extension 2, the biggest in Africa, and planting over 4 000 ha of palm in one year; also, a record.

Expansion of the Company’s concessions in Edo state to 33 112 ha, 17 177 ha of oil palm and 7 335 ha of rubber.

Planting of 2 300 ha of oil palm in Extension 2, completing the area to be planted in Extension 2 to approximately 9 500 ha.

Construction of the first of the 2 new 30 T/h oil mills in Extension 2.

Turbine upgrade from 2.3M W to 7.3 MW.

HCS assessment for 500 ha in Extension 2.

RSPO certification obtained, alongside earlier ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certifications, Okomu is the first oil palm company in Edo State to have achieved this.

Planned commissioning of the first of the 2 new 30 T/h oil mills in Extension 2, doubling the production of CPO to around 80 000 T per annum by 2025.

Start of the construction of Okomu’s second 30 T/h oil mill at Extension 2.