L-R: Executive Director, Finance, Ramon van Deventer; Chairman, Board of Directors, Olayinka Sanni; Non-Executive Director & President, Middle East, Pakistan and Africa Business Group (MEPA BG), Ali Ahmed Khan; Managing Director, Roger Adou and Executive Director, Corporate Affairs, Ore Famurewa during the 53rd Annual General Meeting of FrieslandCampina WAMCO Nigeria PLC held in Lagos, recently
FrieslandCampina WAMCO Nigeria Plc, Nigeria’s leading dairy company and makers of Peak, Three Crowns, Coast, Olympic and Nunu milk brands, successfully held its 53rd Annual General Meeting (AGM), reporting a strong financial recovery with significant growth across key performance indicators in its financial year ended 31 December 2025.
The AGM, which took place in Ikeja, Lagos on Tuesday, May 19, 2026, brought together shareholders, board members, and key stakeholders to deliberate on the Company’s 2025 performance and strategic outlook for the future.
The Company delivered a strong rebound in 2025, returning to profitability and strengthening its balance sheet and liquidity position despite continued macroeconomic pressures within the operating environment.
L-R: Board Members – Executive Director, Finance, Ramon van Deventer; Non-Executive Director, Oyinkan Ade-Ajayi; Chairman, Board of Directors, Olayinka Sanni; Non-Executive Director & President, Middle East, Pakistan and Africa Business Group (MEPA BG), Ali Ahmed Khan; Managing Director, Roger Adou; Executive Director, Corporate Affairs, Ore Famurewa; Non-Executive Director, Peter Eshikena and Company Secretary/Head of Legal, Adeola Osho
Revenue increased by 25% from ₦493.6 billion in 2024 to ₦615.9 billion in 2025, driven by strong volume growth, targeted pricing initiatives, and sustained market expansion across key product categories.
Gross Profit rose significantly to ₦119 billion in 2025, driven by improved product mix, operational efficiency, cost-saving initiatives, and the relative strengthening of the Naira during the second half of the year.
Profit Before Tax (PBT) increased remarkably by 566% from ₦4.9 billion in 2024 to ₦32.7 billion in 2025, supported by improved operating profit, reduced finance costs, and lower borrowings.
The Company recorded a Profit After Tax of ₦18.4 billion in 2025, representing a major recovery from the ₦749 million loss recorded in 2024. Consequently, total equity improved significantly from ₦3.8 million in 2024 to ₦18.8 billion in 2025.
The Board of Directors proposed and the shareholders approved a dividend payout of ₦1.00 per 50k ordinary share for the 2025 financial year, reflecting the Company’s commitment to balancing shareholder returns with the need to strengthen equity and maintain business resilience.
In the words of Roger Adou, Managing Director, FrieslandCampina WAMCO, “2025 was a defining year for FrieslandCampina WAMCO Nigeria PLC as we successfully returned the business to profitability despite persistent macroeconomic and operational challenges. The operating environment remained complex with high interest rates, supply chain disruptions, inflationary pressures, and foreign exchange volatility continuing to impact businesses across Nigeria.
“Despite these headwinds, our teams demonstrated exceptional resilience, agility, and commitment. We significantly improved operational efficiency across our factories, strengthened our route-to-market capabilities, enhanced our commercial execution, and optimized our supply chain operations.
“We also continued to invest in our brands, our people, and our sustainability agenda. Our dairy development initiatives recorded strong progress in improving local milk sourcing, farmer capability development, and dairy ecosystem sustainability. In 2025 alone, over 13,000 farmers were trained, while raw milk volumes increased by 19% compared to the previous year.
“As a company committed to nourishing Nigerians with quality dairy nutrition, we expanded several consumer engagement initiatives and reinforced our presence across strategic categories and channels. We remain focused on operational excellence, innovation, sustainability, and long-term value creation for all stakeholders.”
L-R: Executive Director, Corporate Affairs, Ore Famurewa; Chairman, Board of Directors, Olayinka Sanni; Non-Executive Director & President, Middle East, Pakistan and Africa Business Group (MEPA BG), Ali Ahmed Khan; Managing Director, Roger Adou and Non-Executive Director, Oyinkan Ade-Ajayi
In his address, the Chairman, Board of Directors, Mr. Olayinka Sanni said: “2025 marked a year of recovery, resilience, and strategic progress for FrieslandCampina WAMCO Nigeria PLC. Although the macroeconomic environment remained challenging, we witnessed gradual improvements in economic stability, moderation in inflation, and relative stability in the foreign exchange market, which positively impacted business confidence.
“The Company’s strong recovery in profitability and equity position demonstrates the effectiveness of our strategic actions, disciplined financial management, and operational transformation initiatives. Our focus remains on building a more resilient business capable of delivering sustainable long-term value despite ongoing economic uncertainties.
“On behalf of the Board, I would like to sincerely appreciate our shareholders for their unwavering confidence and support, our employees for their dedication and resilience, our customers and consumers for their loyalty, and our partners for their continued collaboration.
“As we look ahead to 2026, we remain optimistic about the future of our Company. We will continue to focus on sustainable growth, operational efficiency, responsible business practices, dairy development, and investments that strengthen our long-term competitiveness in Nigeria’s dairy industry” Sanni concluded.
