BY ABDUL-KADIR ABDULLAH
The Edo State Investment Promotion Office (ESIPO) and Presco PLC, a leading oil palm plantation company in Nigeria, have reinforced their collaboration in a crucial business partnership meeting aimed at facilitating investment expansion in Edo State.
The meeting, held on Tuesday, 18 March 2025, at Presco’s premises, was part of a 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, the Managing Director of ESIPO, Mr Amen Odigie, reaffirmed the state government’s commitment to creating a conducive environment for investors. He stated, “Our primary goal at ESIPO, in collaboration 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 ensuring a favourable climate for investors like yourselves. We understand the vital role businesses play in our state’s economy, and we are eager to explore opportunities for further collaboration and development.”
Presco PLC’s Managing Director and CEO, Mr Reji George, highlighted the company’s commitment to transparency in its operations and its significant contributions to the local economy. He emphasised that “Presco is one of the most transparent companies in Nigeria. With over 8,000 employees and long-standing relationships with 26 host communities spanning 33 years, our expansion plans are a testament to the strong partnership we share with our host communities.”
He further assured stakeholders of the company’s dedication to addressing community concerns and maintaining open communication, stating, “We are committed to resolving issues and ensuring clear engagement. We remain law-abiding and dedicated to our responsibilities.”
Discussions at the meeting covered Presco’s robust production processes, state-of-the-art facilities, and an impressive palm oil extraction rate of 23.8%, exceeding industry standards. The company’s RSPO certification and significant research and development centre at Ologbo Estate were also showcased, highlighting its commitment to developing palm varieties suited to the African environment.
Presco’s expansion plans, including the establishment of a new, more efficient mill, were key points of discussion. 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 addressed.
Additionally, the meeting examined Presco’s extensive corporate social responsibility initiatives, including projects related to road infrastructure, water supply, electricity, and education for host communities.
The Edo State delegation included the Head of the Edo State Oil Palm Programme (ESOPP), Mr Churchill Obor, and the Managing Director of the Edo State Information Communication Agency (ICT), Mr Uroghide Eghosa.
