MeCure Industries Plc has secured shareholder approval to increase its capital-raising programme from N30 billion to N50 billion, strengthening its financial capacity to expand manufacturing, launch new pharmaceutical products and accelerate regional growth as Nigeria’s healthcare industry attracts fresh investment.
The approval, granted at the company’s 3rd Annual General Meeting (AGM) in Lagos, comes as pharmaceutical manufacturers seek additional capital to expand local production, reduce import dependence and meet rising demand for medicines amid persistent inflation, elevated borrowing costs and foreign exchange volatility.
The revised mandate represents a 66.7 per cent increase from the N30 billion fundraising programme approved at an Extraordinary General Meeting in May 2025, giving the company greater financial flexibility to execute its long-term growth strategy while strengthening its balance sheet.
According to a resolution passed at the AGM, shareholders authorised the company to increase the additional capital to be raised to N50 billion, while retaining all other resolutions approved under the earlier mandate.
The additional funding is expected to support factory expansion, improve working capital and enhance operational efficiency as MeCure positions itself for the next phase of growth. The capital will also support the commercialisation of 19 newly approved pharmaceutical products, particularly in cardiovascular and metabolic therapies, while strengthening the company’s expansion into Sierra Leone and other West African markets.
The fundraising plan builds on the company’s strong financial performance in 2025, providing management with additional resources to sustain growth without relying solely on internally generated funds. For manufacturers operating in a high-interest-rate environment, larger capital pools can also improve resilience by reducing funding constraints for expansion projects.
Shareholders also approved a dividend of 32 kobo per 50-kobo ordinary share for the financial year ended December 31, 2025, reflecting management’s confidence in the company’s earnings outlook. Based on the company’s issued share capital, the payout is estimated at about N1.29 billion.
In addition, investors re-elected Mrs Ayotunde Owoigbe and Mr Tochukwu Orajiaku, who retired by rotation, and approved the appointment of members of the Statutory Audit Committee as part of measures to strengthen corporate governance. Shareholders also renewed approval for recurrent related-party transactions undertaken in the ordinary course of business and authorised directors to fix the remuneration of the external auditors for the 2026 financial year.
The AGM resolutions follow a year of record financial performance. MeCure reported pre-tax profit of N7.93 billion for the year ended December 31, 2025, up 140.2 per cent from N3.30 billion in 2024, while profit after tax rose 177.5 per cent to N6.46 billion. Revenue increased 68.8 per cent to N77.69 billion from N46.03 billion, driven by stronger demand across its pharmaceutical manufacturing and distribution businesses.
The expanded capital programme signals management’s confidence in sustaining that growth trajectory while positioning the company to benefit from increasing healthcare demand across Nigeria and West Africa. By combining stronger funding capacity with manufacturing expansion, a broader product pipeline and regional market penetration, MeCure is seeking to consolidate its position as one of Nigeria’s leading indigenous pharmaceutical manufacturers.