Firm injects $100m into Presco FDI, boosts Edo’s agro-industrial growth

Following plans by Belgian agro-industrial leader, SIAT NV, to invest $100 million in Presco Plc, the Edo State economy is expected to receive a significant boost, as the investment will enable Presco to expand its operations.

A statement said the $100 million fund would be strategically utilised to support Presco’s expansion initiatives, including scaling industrial capacity, expanding plantation development, and driving value-addition across its operations.

It added that the investment would enhance technology adoption, bolster talent development, and strengthen Nigeria’s position in the regional edible oils and speciality fats market.

Speaking on the development, Chairman of Presco Plc, Olakanmi Sarumi, said: “Nigeria and Edo State remain at the heart of Presco’s long-term strategy. This renewed commitment reflects our confidence in the country’s reform direction, its resilience, and the strong leadership driving Presco’s consistent performance.”

The investment represents the first tranche of an ambitious $1 billion FDI commitment aimed at accelerating agro-industrial development across Nigeria over the next decade.

The statement further noted that the substantial commitment underscores the role of strong subnational governance, particularly the exemplary leadership of Governor Monday Okpebholo, whose administration has enhanced security, strengthened governance structures, and cultivated a robust business-friendly environment that continues to attract large-scale industrial capital into Edo State.

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