SECTOR GUIDE · AGRICULTURE
Nigerian agriculture stocks, compared
The farm names side by side
Figures as of the 20 Oct 2026 close. Click a ticker for the full stock page.
| Company | What it does | Price | Market value |
|---|---|---|---|
| PRESCO | Oil palm plantations, milling and refining | ₦2,045.00 | ₦2.4tn |
| OKOMUOIL | Oil palm and rubber plantations | ₦1,276.00 | ₦1.2tn |
| LIVESTOCK | Animal feed milling | ₦17.10 | ₦51.3bn |
| ELLAHLAKES | Farming and agro-processing ventures | ₦7.80 | ₦30.1bn |
| FTNCOCOA | Cocoa processing | ₦7.50 | ₦29.2bn |
| ZICHIS | Agro-allied processing | ₦17.40 | ₦10.4bn |
What the numbers are saying
- The pair is priced as twins: Presco trades at 19.6x its FY2025 profit (₦121.5bn) and Okomu at 19.2x (₦63.5bn). Okomu’s earnings per share of ₦66.60 is the highest in this site’s valuation dataset. Both are established dividend payers, and both had record years on the same two tailwinds: high world palm oil prices and a weak naira lifting local prices toward import parity.
- Know the driver stack: crude palm oil prices are set in Malaysia and Indonesia, not Edo State. Local producers price against the cost of imported oil, so the exchange rate is a profit lever in both directions. Import policy is the third lever: restrictions on palm oil imports protect the local price, and any policy reversal would reach these two stocks first.
- The risks are physical: yields depend on rainfall and the age profile of the trees, estates carry real security and community-relations costs in the Niger Delta belt, and a plantation cannot move. When palm oil prices fall, there is no hedge inside the business; the multiple and the earnings can fall together.
- The tail is not the same sector: Livestock Feeds is a feed miller squeezed between maize and soya costs and poultry farmers’ budgets. Ellah Lakes and FTN Cocoa have run as turnaround stories for years and neither is in the verified earnings dataset yet. Zichis is newly listed and tiny. For all four, the filings matter more than the price chart.
Quick summary
- This sector is a palm oil trade: Presco and Okomu, priced alike at about 19x record FY2025 earnings.
- World palm prices, the naira and import policy decide the pair’s profits; weather and estate security set the risks.
- The four small names are separate stories. Read their filings before their charts.
Go deeper
Sources: Nairaview market data (Nigerian Exchange), 20 Oct 2026 close; FY2025 profits as reported in audited company results (see each stock page’s valuation section). Verified 21 Oct 2026. Not investment advice.