Prime Business Africa
Socfinaf S.A., the majority investor in Okomu Oil Palm, went from being a billionaire to a trillionaire shareholder in the company following a huge demand for the firm’s shares among equity traders on the Nigerian Exchange (NGX).
The substantial investor, which is the only shareholder with over 5 percent stake in Okomu Oil Palm, achieved the feat within the last one year, according to Prime Business Africa’s (PBA) analysis.
Join our WhatsApp ChannelThe analysis, which focused on the period between April 10, 2025, and April 10, 2026, showed that Okomu Oil was the second most sought-after palm oil share in the NGX, also known as the stock market.
Prime Business Africa gathered that the share price of Okomu Oil increased from N545.20 kobo to N1,765, indicating equity traders in the bourse were willing to pay N1,219.8 kobo more for a share of the company during the period under review.
Following the significant increase in the palm oil producer’s share price, the value of shares held by Socfinaf, which is 600.44 million shares, representing a 62.94 percent controlling stake, appreciated by 223.73 percent within one year.
The appreciation led to the investment held by Socfinaf in Okomu Oil to increase from N327.36 billion on April 10, 2025, to N1.05 trillion on April 10, 2026, representing a gain of N732.41 billion during the period.
In addition, Okomu Oil’s chairman, Gbenga Oyebode, also saw a significant increase in the value of his investment during the period under review, gaining N50.82 billion from share appreciation.
Oyebode, who holds 41.66 million shares in Okomu Oil, representing a 4.36 percent stake, now holds N73.54 billion investment in the palm oil producer, compared to the N22.71 billion the shares were valued as of April 10 last year.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
