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| Mr. Abiola Adebayo, Fidson Healthcare Plc new MD/CEO |
After 30 years at the helm, Dr. Fidelis Ayebae, the company's founding managing director and CEO, of Fidson Healthcare Plc, has retired, handing over to Abiola Adetunji Adebayo, marking a significant leadership change.
Dr Ayebae called the succession "a mark of Fidson’s strong leadership planning", heralding a new chapter in the company’s ambitious growth strategy unveiling a N30 billion capital raise initiative.
The aim of Fidson is to expand its footprint across Nigeria and penetrating Africa’s pharmaceutical frontier.
Interestingly, the equity drive received unanimous approval at the company’s 26th Annual General Meeting (AGM), convened virtually on 31 July 2025.
The strategic mandate empowers Fidson’s board to raise funds through Rights Issue and/or other equity-based instruments. This ambitious move is designed to fast-track the company’s capacity expansion, foster product innovation, and bolster market dominance.
Imokha Ayabae, Fidson’s Finance Director, described the capital injection as transformative and foundational to the company’s future.
“This N30 billion mandate is pivotal for our future. It provides us with the financial agility to pursue strategic initiatives, including capacity expansion, product innovation, and market penetration that will solidify our leadership position in the healthcare sector. We are poised to leverage these funds to enhance operational efficiency and broaden our impact across Nigeria and other African countries,” he stated.
In tandem with the capital raise, shareholders sanctioned an increase in Fidson’s authorised share capital from N1.2 billion to N1.5 billion, through the creation of 600 million new ordinary shares at 50 kobo apiece.
The virtual AGM, held in compliance with the Business Facilitation Act, 2022, signalled a corporate governance milestone, with the live-streamed proceedings demonstrating Fidson’s commitment to transparency and stakeholder engagement.
A watershed moment of the AGM was Dr Ayebae’s formal retirement as CEO, effective 1 August 2025. He handed over the reins to Adebayo, a veteran executive and pioneer director who has journeyed with Fidson from inception.
Dr Ayebae described the handover as part of Fidson’s strong succession planning, stating, “As I step down, I do so with immense pride in what we have built together. I now retire knowing that Fidson is in excellent hands with Biola Adebayo, who has been on this journey with me for 30 years. I am confident that his leadership will continue to drive innovation and strategic growth, ensuring the company remains at the forefront of healthcare delivery in Nigeria."
Also leaving the board was the outgoing Chairman, Segun Adebanji. A new Chairperson will be confirmed at the company’s next board meeting.
Underpinning its robust financial performance for the fiscal year ended 31 December 2024, Fidson declared a dividend of N1.00 per 50 kobo ordinary share — totalling a payout of N2.29 billion. This dividend was drawn from earnings per share (EPS) of N2.52, reinforcing Fidson’s consistent commitment to shareholder value.
Shareholders also reviewed and endorsed the company’s audited financials, re-elected directors, and ratified remuneration packages for the board, auditors and senior management in line with regulatory benchmarks.
Yomi Adebanjo, Company Secretary, reaffirmed Fidson’s corporate integrity, stating, “Our electronic AGM ensures that all shareholders, regardless of their location, can participate actively in the company’s decision-making process. This aligns with our ethos of strong corporate governance and transparency.”
