Fidson Founder Transfers Leadership to Adebayo, Announces Ambitious N30bn Roadmap
After 30 years at the helm of Fidson Healthcare Plc, Dr. Fidelis Ayebae, the company’s founding managing director and CEO, has retired, leaving Abiola Adetunji Adebayo in charge in a crucial leadership transition.
Calling the success “a mark of Fidson’s strong leadership planning,” Dr. Ayebae announced a N30 billion capital raise project, marking the beginning of a new phase in the company’s ambitious growth strategy.
Fidson wants to penetrate the pharmaceutical frontier of Africa and increase its presence throughout Nigeria.
Interestingly, the company’s 26th Annual General Meeting (AGM), which was held digitally on July 31, 2025, unanimously approved the equity drive.
The board of Fidson is empowered by the strategic mandate to generate money through equity-based instruments such as rights issues. This bold action is intended to strengthen market domination, promote product innovation, and expedite the company’s capacity expansion.
Fidson’s Finance Director, Imokha Ayabae, called the investment “transformational” and “fundamental to the company’s future.”
“This N30 billion mandate is essential to our future. It offers us the financial flexibility to pursue strategic goals that will strengthen our position as the industry leader in healthcare, such as capacity development, product innovation, and market penetration. He said, “We are well-positioned to use these money to increase our operational effectiveness and expand our influence throughout Nigeria and other African nations.
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Concurrent with the capital raise, shareholders approved the formation of 600 million new common shares at a price of 50 kobo each, increasing Fidson’s authorized share capital from N1.2 billion to N1.5 billion.
A milestone in corporate governance was marked by the virtual AGM, which was conducted in accordance with the Business Facilitation Act of 2022. Fidson’s dedication to transparency and stakeholder engagement was evident through the live-streamed proceedings.
With effect from August 1, 2025, Dr. Ayebae’s official retirement as CEO marked a turning point for the AGM. He turned the helm over to Adebayo, a seasoned businessman and trailblazing director who has been with Fidson since the beginning.
“As I step down, I do so with immense pride in what we have built together,” said Dr. Ayebae, who characterized the handover as a component of Fidson’s robust succession planning. Now, after 30 years of traveling this path with me, I can rest easy knowing that Fidson is in good hands with Biola Adebayo. In order to keep the business at the forefront of healthcare services in Nigeria, I have no doubt that his leadership will continue to spur innovation and strategic expansion.
The outgoing Chairman, Segun Adebanji, was also leaving the board. The next board meeting of the company will confirm the new chairperson.
Fidson announced a N1.00 dividend per 50 kobo ordinary share, or N2.29 billion, to support its strong financial performance for the fiscal year that concluded on December 31, 2024. This dividend, which was taken from N2.52 in profits per share (EPS), demonstrates Fidson’s unwavering dedication to maximizing shareholder value.
Additionally, the company’s audited financials, re-elected directors, and standardized compensation packages for the board, auditors, and senior management in accordance with regulatory standards were all examined and approved by shareholders.
With the words, “Our electronic AGM ensures that all shareholders, regardless of their location, can participate actively in the company’s decision-making process,” Company Secretary Yomi Adebanjo reinforced Fidson’s corporate integrity. This is in line with our values of openness and sound corporate governance.
