LAGOS, Nigeria — The chairman of Tantalizers Plc, Alhaji Adam Nuru, has described Nigeria’s economic condition as unpredictable, even as the company recorded its first profit in years and embarked on an ambitious diversification strategy across entertainment, fisheries, and technology sectors.
Nuru made the remark while addressing shareholders at the company’s annual general meeting on Wednesday, where he outlined the firm’s growth prospects and recent acquisitions. The company returned to profitability in 2025, posting a net profit after tax of N73 million, breaking a losing streak that saw a net loss of N265.59 million in 2024. Turnover rose to N2.90 billion, with gross profit at N463.78 million and profit before tax at N83.70 million.
Despite the financial recovery, Nuru struck a cautious note about the broader business environment. “Although economic conditions remain uncertain and execution challenges remain, we believe that the company is substantially better positioned today than it was in 2025,” he said. The company has been undertaking a radical transformation, moving beyond its legacy as a quick-service restaurant operator into a diversified consumer-focused enterprise.
The board’s diversification strategy includes significant investments in entertainment and fisheries, as well as in technology and human capital. The company’s new entertainment subsidiary, Tantainment Limited, has established regulatory and operational frameworks for commercial launch, with focus now shifting to audience acquisition and content development. Another new subsidiary, Tantalizers Fisheries Limited, has made substantial progress in infrastructure development to support long-term competitiveness.
“Our objective is clear: to diversify earnings, reduce concentration risk and build a more resilient enterprise capable of delivering sustainable shareholder returns across economic cycles,” Nuru said. The company has also raised N2 billion from a strategic investor for its entertainment subsidiary, valuing the unit at N30 billion.
Reflecting on the transformation, Nuru noted: “Today, Tantalizers is no longer defined solely by its legacy business. We are steadily building a broader platform capable of participating in multiple sectors of the consumer economy while maintaining the operational discipline necessary to create long-term shareholder value.” Shareholders at the meeting commended the board and management for the turnaround and approved all resolutions.
