Key Factors
- Fidelis Ayebae steps down as CEO after rising Fidson right into a $66 million pharmaceutical firm since founding it in 1995.
- The corporate seeks $20 million by way of rights subject to fund enlargement, as shareholders approve share capital improve to $1 million.
- Fidson’s web revenue surged almost 4x to $3.97 million within the first half, pushed by robust moral drug gross sales and income development.
Nigerian pharma mogul Fidelis Ayebae has stepped down as managing director and CEO of Fidson Healthcare Plc—the Lagos-based firm he based in 1995 and nurtured right into a $66 million enterprise over three many years.
His retirement took impact on Aug. 1, as confirmed in a regulatory filing on the Nigerian Exchange. The assertion acknowledged Ayebae’s pivotal position in constructing Fidson right into a key participant in Nigeria’s pharmaceutical sector over the previous 30 years.
Adebayo steps in as CEO
A management transition on the firm is already underway. Abiola Adetunji Adebayo, a longtime government director, will take over as managing director and CEO.
His appointment had beforehand been accredited by the board, in response to outgoing Chairman Segun Adebanji, who additionally introduced his personal retirement. “This transfer confirms Fidson’s strong succession planning and dedication to sustained development,” Adebanji stated.
Whereas the board is predicted to call a brand new chairman at its subsequent assembly, trade watchers are intently following developments, with many speculating that Ayebae could also be nominated to tackle that position, persevering with his affect in a extra strategic capability.
Fidson seeks $20 million capital
The management transition comes at a essential time for Fidson, which plans to boost as much as N30 billion ($20 million) by a rights subject or different fairness financing strategies to help its subsequent part of development. As a part of its capital restructuring, shareholders have additionally accredited a rise within the firm’s share capital—from N1.2 billion ($0.8 million), made up of two.4 billion shares of fifty kobo every, to N1.5 billion ($1 million) by creating a further 600 million shares.
Fidson’s leap beneath Ayebae
Beneath Fidelis Ayebae, Fidson Healthcare has grown steadily since its founding, turning into one among Nigeria’s main producers of pharmaceutical merchandise. The corporate posted robust ends in 2024, with web revenue rising almost 40 p.c, from N3.61 billion ($2.44 million) in 2023 to N5.05 billion ($3.41 million), fueled by larger demand for its moral drug choices.
Income climbed to N84.19 billion ($56.84 million), up 58.7 p.c from the earlier yr. The robust monetary exhibiting enabled the corporate to declare a closing dividend payout of $1.49 million, with Ayebae, as the biggest shareholder, receiving almost half 1,000,000 {dollars}.
Fidson posts robust first-half development
That efficiency has continued into 2025. For the first half of 2025, Fidson reported a pointy rise in revenue, climbing from N1.51 billion ($1 million) in H1 2024 to N6.02 billion ($3.97 million). Income additionally noticed robust development, rising from N37.25 billion ($24.5 million) to N62.64 billion ($41.2 million), pushed by strong outcomes throughout all segments of the enterprise.
This monetary upswing additionally strengthened the corporate’s stability sheet. Complete belongings rose from N73.49 billion ($48.2 million) on the finish of 2024 to N86.08 billion ($56.4 million) as of June 30, 2025. Retained earnings climbed from N17.74 billion ($11.63 million) to N23.77 billion ($15.64 million) over the identical interval, underscoring the corporate’s strong monetary footing because it appears forward to its subsequent chapter.
