December 02, (THEWILL) — Presco Plc has announced the successful attraction of a $100 million Foreign Direct Investment (FDI) aimed at accelerating the company’s expansion plans and strengthening Nigeria’s agro-industrial value chain.
The investment described as a significant vote of confidence in Edo State’s economic potential will support Presco’s ongoing projects in oil palm cultivation, processing, and downstream manufacturing.
According to company officials, the funds will be deployed toward expanding plantation acreage, upgrading processing facilities, and enhancing value-added production capacity.
Presco Plc noted that the new capital injection will not only boost production output but also stimulate job creation and rural development across host communities.
The company emphasized its commitment to sustainable agriculture, improved environmental practices, and partnerships that support long-term growth.
Officials from the Edo State Government welcomed the development, stating that the investment highlights the state’s favorable business climate and the effectiveness of ongoing reforms to attract foreign and domestic investors.
They added that the project aligns with the state’s broader agenda to deepen industrialization and strengthen agro-based economic activities.
Industry analysts believe the investment will position Presco Plc more competitively in the regional market while contributing significantly to Nigeria’s agricultural GDP and export potential.
Presco Plc reaffirmed that the expansion initiative will be executed in phases, with implementation expected to begin immediately.
Ogochukwu Onwaeze
