VFD Group Plc has outlined an ambitious growth plan aimed at positioning itself among the top five operators in several segments of the Nigerian economy, while also accelerating its expansion footprint across Africa, supported by its strengthened capital base.
The company disclosed this at its Annual General Meeting held in Lagos, where its board confirmed that proceeds from its recent capital raising exercise are already being deployed to deepen its presence across strategic sectors of the economy.
Group Managing Director of VFD Group Plc, Nonso Okpala, explained that the fresh capital will be channelled into the group’s five core investment areas, which include market infrastructure, capital market operations, real estate and hospitality, financial services, and retail technology, according to TheNation.
He reaffirmed the company’s focus on institutional strengthening, disciplined implementation of strategy, and sustained value delivery to shareholders over the long term.
Okpala also expressed appreciation to shareholders for their backing of the recent capital raise, noting that it marks a significant milestone in the company’s next phase of expansion.
“Those funds are being deployed into these verticals to deepen our market positions and ensure that our businesses within those sectors become top five players in the economy.
“Our expansion strategy is not random or opportunistic. It is a deliberate effort to identify and pursue opportunities across Africa while replicating the successes we have achieved in Nigeria within key African markets,” Okpala said.
He further noted that despite economic challenges and the cost of expansion, the group has maintained a consistent track record of rewarding shareholders through annual dividend payments.
“This year, we declared a dividend of 25 kobo for every share of 50 kobo held by shareholders. That outcome is not driven by luck. It is the result of deliberate planning, disciplined execution, and a clear determination to succeed as an institution.
The foundation of our growth story continues to be transparency, accountability, strong risk management practices, and strict adherence to corporate governance standards.” Those principles remain central to how we operate and create sustainable value for shareholders,” Okpala said.
Chairman of VFD Group Plc, Olatunde Busari (SAN), emphasized that strong governance structures, resilience, and responsible leadership remain central to the group’s operations across its diverse investments.
He stated: “Transparency, accountability, and compliance are extremely important to us. As an investment company, we take governance very seriously because investor confidence is built on trust and discipline. “Being a publicly listed company also means we are subject to stronger regulatory oversight than a private company, and we see that as a positive. It reinforces our commitment to doing business responsibly and sustainably. “Given the scale of our activities and investments across sectors, risk management is also a critical priority for us. We continue to strengthen our governance and risk frameworks, and that disciplined approach has contributed significantly to the company’s consistent growth year after year”.
At the AGM, shareholders approved all tabled resolutions, including a dividend payout of 25 kobo per 50 kobo share, the re-election of Ms. Omolola Bolusire as an independent non-executive director, the reappointment of PricewaterhouseCoopers (PwC) as external auditors, as well as statutory audit committee appointments and related governance matters.
Executive Director for Finance and Investor Relations, Folajimi Adeleye, also briefed shareholders on the group’s financial position following the completion of its Rights Issue, highlighting its capital structure and strategic focus going forward.
“Our strategy around expansion is not based on growth simply for expansion’s sake. It begins with understanding the markets we operate in and identifying the opportunities that exist within those markets.
At the same time, we approach every decision with a strong sense of responsibility to our shareholders. We would not enter any market or pursue any opportunity without carefully evaluating the business potential, the associated risks, and ensuring that strong governance structures are in place. One of the major advantages we have at VFD Group is the strength of our diversified portfolio. That diversity allows us to benefit from different business and earnings cycles across sectors,” Adeleye said.
Company Secretary of VFD Group Plc, Gbeminiyi Shoda, described the AGM as a reflection of the company’s strong governance culture and sustained investor confidence in its long-term strategy.
“The level of participation and overwhelming support across resolutions reinforce our collective commitment to transparency, accountability, and long-term value creation,” Shoda said.
