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By Chukwuma Umeorah
Tantalizers Plc has projected a revenue of N48.58 billion by 2026 by leveraging expansion into fisheries, aquaculture, and entertainment to drive growth beyond its traditional quick-service restaurant (QSR) business.
Speaking at the ‘Facts Behind the Figures’ presentation at the Nigerian Exchange Limited (NGX) in Lagos, the Group Managing Director, Robert Speijer, said the company aimed to increase revenue from N1.198 billion in 2024 to N17.4 billion in 2025, before reaching the 2026 target. The company, which recorded a 17.4 per cent revenue increase in 2024, however, posted a loss before tax of N259 million, down from N284 million in 2023.
“We are repositioning ourselves as a diversified, multi-sectoral conglomerate that extends beyond the QSR space,” Speijer said.
He revealed that a key focus of the company’s strategy is investment in the blue economy, with plans to acquire 10 new trawlers by 2025 to support fish supply, reduce Nigeria’s reliance on fish imports, and explore export opportunities.
“Tantalizers is positioning itself as a major player in the Blue Economy. The fisheries and aquaculture industry is a vital component of global food security and economic development,” he stated.
Beyond fisheries, the company is also looking at the entertainment industry as part of its revenue diversification plans. The Chairman of Tantalizers, Adam Nuru, described the company’s recent management-led acquisition as a strategic move to enhance its market position and long-term profitability.
According to him, “The acquisition is more than a transaction. It strengthens our position, expands our reach, and reinforces our commitment to delivering value to shareholders, consumers, and stakeholders.”
Financial projections show a shift from losses to profitability, with the company expecting to post N4.18 billion in profit after tax by 2025 and N16.08 billion by 2026. Earnings per share (EPS) are projected to rise from -5 kobo in 2024 to 42 kobo in 2025 and N1.07 in 2026, while dividends per share (DPS), previously nonexistent, were expected to reach 8 kobo in 2025 and 21 kobo in 2026. Tantalizers’ total assets, currently N2.293 billion, are projected to grow to N22 billion by 2025, while its share price, now at 20 kobo, is expected to hit N2 in 2024, N10 in 2025, and N15 in 2026.
The Chief Executive Officer of NGX, Jude Chiemeka, noted that the company remained the only listed QSR firm on the Exchange, with a market capitalization of N14.3 billion.
“This acquisition signals broader economic implications, reinforcing Nigeria’s evolving business landscape and strengthening the services sector, which contributed 58 per cent to GDP in Q3 2024,” Chiemeka said.
