Food and Agro Processing Vertical
ABS recognizes the critical role food and agriculture plays in the provision of food security and the development of any economy. ABS is heavily invested in agriculture through its subsidiaries; Ayip Eku Oil Palm Limited, where it holds a significant stake in an oil palm plantation and Patech Foods Limited an aquaculture and food processing company located in Western Nigeria.
AYIP -EKU OIL PALM COMPANY LIMITED
Ayip Eku Oil Palm LTD was established in 1976 to produce, process, store, and distribute oil palm produce and its derivatives both locally and internationally. The oil palm estate is located in the lush environment of Cross Rivers State, in southern Nigeria and has a total acquired are of 12,410 hectares of land, out of which only 3,100 hectares have been cultivated, with an additional 9,000 hectares of enclosure forest available for future cultivation, providing a strong foundation for growth and expansion.
Ayip Eku is a vertically integrated company that controls the entire production process—from cultivation to processing. The company is focused on maximizing the value of its by-products, including palm kernel oil, palm kernel cake, and palm kernel shell, which represent untapped potential. These by-products contribute approximately 20-25% of additional revenue, allowing us to diversify our income streams.
Ayip Eku is committed to leveraging its resources, expertise, and partnerships to advance sustainable agricultural practices, improve productivity, and promote the use of innovative technologies in its oil palm estate. It plans to grow by integrating its production processes to tap into high-value industries across the entire oil palm value chain such as biofuels, cosmetics, and pharmaceuticals, where palm oil derivatives are in high demand. This market expansion presents a potential growth opportunity of 30-35%, enabling us to cater to the increasing global demand for sustainable, palm-based products.
PATEC FOODS
Patec Foods was established in 2017, and is committed to driving the growth and development of the aquaculture industry in Nigeria. The company commenced operations in July 2021, by launching a vertically integrated aquaculture production and processing facility on a 10-hectare site in Kwara State. Patec Foods’ mission is to be a leading provider of high-quality aquaculture inputs and fish products while empowering smallholder farmers through sustainable business practices.
Patec Foods’ core business strategy focuses on both fish production and processing. As an input producer, the company specializes in breeding quality fingerlings for its own operations and for sale to smallholder farmers. As a processor, Patec Foods adds value by processing fish produced at its facility and those sourced from local farmers, thereby creating a reliable supply chain and supporting rural aquaculture development. The company’s empowerment model enables smallholder farmers to access high-quality fingerlings and offers a buy-back program for table-size catfish, enhancing local livelihoods and boosting the sector’s sustainability.
The aquaculture facility is equipped with state-of-the-art infrastructure, comprising three key sections: hatchery, nursery and grow-out operations, and industrial fish processing. The hatchery has an annual capacity of 8 million fingerlings, with current production levels at 5.6 million. Patec Foods’ grow-out operations utilize a Recirculatory Aquaculture System (RAS), which ensures efficient and sustainable fish production. Additionally, the company operates three kilns with a combined processing capacity of 2 metric tons (MT) of fish per day, currently processing 3 tons of live fish weekly.
Patech Foods has obtained all necessary regulatory approvals, including certifications from the Federal Department of Fisheries, NAFDAC, and an EU certification, ensuring its products meet both local and international standards. The company’s diverse product line—ranging from whole fish, fillets, and smoked fish to frozen fish and fingerlings—is distributed in over 250 retail outlets across key markets in Nigeria.
With its commitment to quality, sustainability, and community empowerment, Patec Foods is at the forefront of Nigeria’s aquaculture industry, contributing to food security and economic growth in the region.
