Learn Africa’s production cost grows from N1.63b to N2.17b

A publishing firm, Learn Africa Plc has disclosed that its cost of production increased to N2.17b from N1.63b at the close of the 2024/ 2025 fiscal year. The firm’s chairman of the board of directors, Emeke Iwerebon stated this during the 52nd Annual General Meeting (AGM), attributing the increase in the cost of production to […]

A publishing firm, Learn Africa Plc has disclosed that its cost of production increased to N2.17b from N1.63b at the close of the 2024/ 2025 fiscal year.

The firm’s chairman of the board of directors, Emeke Iwerebon stated this during the 52nd Annual General Meeting (AGM), attributing the increase in the cost of production to Naira devaluation, rising logistics cost and disruptions in global paper supply.

He however, noted that the firm recorded an increase in revenue, soaring to N5.18 billion from the N4.08 billion, marking a 26.9 per cent increase compared to the previous fiscal year.

Iwerebon explained that the firm devised strategic sales initiative, revised trading policy to minimise credit risk and introduced receivables control framework to scale high during the previous fiscal year.

“In 2024, Learn Africa Plc made significant strides in advancing our operational and strategic goals despite a challenging business climate. One of our most notable achievements was implementing a digital transformation agenda, which included redesigning our corporate website alongside a functional e-commerce platform.

“We also continued to strengthen our market presence in other neighbouring countries in West Africa, where several schools operating the Nigerian curriculum have adopted our books. This strategic expansion has opened new revenue channels and reinforced our competitiveness in the West African market,” he said.

He added that the firm recorded a sharp increase in its profit after tax rising to N474.98 million, compared to N11.19 million in the prior year.

“Strategic partnerships remained a major focus during the year under review, as we sought to deepen our impact and broaden our reach. Notably, we collaborated with the Universal Basic Education Commission (UBEC) by supplying books to support key government educational initiatives to improve literacy and learning outcomes across public schools,” he said.

The firm’s managing director, Hassan Bala urged the federal government to stamp out piracy, stressing that it is crippling revenue generation.

“If we are to sell our actual capacity, we’ll be talking about N100 billion, if not for piracy. The government should help us by strengthening the law enforcement agencies, especially the Customs, Nigerian Copyright Commission, Standard Organization of Nigeria, and Nigeria Police to ensure that copyright infringement does not go unpunished,” he said.