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Notore Chemical Industries Plc has reported a revenue of N21.55 billion for the year ending December 31, 2023, marking significant progress amid challenging economic conditions. The company is on track with its plan to raise additional equity capital of N105 billion to strengthen its operations in the fertiliser and agro-allied sectors.
Mr. Ohis Ohiwerei, the Group Managing Director of Notore, highlighted the company’s achievements, noting approvals received from the board of directors and shareholders for the equity raise transaction. Upon completion, the injection of over N105 billion into Notore will enhance operational capabilities and support future growth initiatives.
Despite economic complexities such as forex volatility and rising costs, Notore demonstrated resilience in navigating the challenging operating environment throughout 2023.
In addition, Notore announced the appointment of Mr. Femi Agbaje as the chairman of the board of directors. With over four decades of experience, including previous roles as a non-executive director and chief financial officer of Notore, Agbaje’s expertise in finance and banking will contribute to the company’s strategic objectives.
