By Abdul-Kadir Abdullah
The Edo State Investment Promotion Office (ESIPO) and Presco PLC, a leading oil palm plantation company in Nigeria in a crucial business partnership meeting solidify their collaboration and address key operational plans to facilitate expansion of investments in Edo State.
The meeting, held on Tuesday March 18, 2025 at Presco premises was part of the activities carried out during the facility visit conducted by the investment promotion team to explore potential areas of collaboration and discuss opportunities for mutual growth and development in the state.
In his address, Mr Amen Odigie, the Managing Director, Edo State Investment Promotion Office (ESIPO) noted that the state government is committed to creating a conducive environment for investors.
According to him, “Our primary goal at ESIPO, working with other MDAs is to foster a dynamic and supportive business environment that encourages growth and mutual success. This visit is a clear demonstration of the Edo State Government’s commitment to creating a conducive environment for investors like yourselves. We understand the vital role businesses play in our state’s economy and we are eager to explore potential areas of collaboration and discuss opportunities for mutual growth and development ”
Mr. Reji George, the Managing Director and CEO of Presco PLC highlighted the company’s commitment to transparency in its operations noting the significant contributions of presco to the local economy.
According to him, Presco is one of the most transparent company in Nigeria. The company’s 8,000 plus employees and relationships with 26 host communities for over 33-years and expansion plans is a testament to the good relationship that exists between the company and the host communities.
“We are committed to resolving the community concerns and ensuring clear communication. We are law-abiding” he noted.
The discussion at the meeting detailed Presco’s robust production process, state-of-the-art facilities, and impressive palm oil extraction rate of 23.8%, exceeding industry standards.
The company’s RSPO certification and significant R&D center at Ologbo Estate were also showcased, emphasizing its commitment to developing palm varieties suited to the African environment.
Presco’s expansion plans, including a new mill with higher efficiency were discussed. However, challenges such as high funding costs and community acceptance of new concessions, particularly the 10,000-hectare allocation from Sakpomba Forest Reserve, were also highlighted.
Also discussed was Presco’s significant CSR activities, including road, water, electricity, and education initiatives for the host communities.
In the state’s team was the head of the Edo State Oil Palm Programme (ESOPP), Mr Churchill Obor and the Managing Director, Edo State information Communication Agency (ICT), Mr Uroghide Eghosa.
