Presco Plc, Nigeria’s a leading agro-allied company, (NGX: PRESCO), has acquired 10,000 hectares in the Nsadop and Boki plantations, further solidifying its dominance in the palm oil industry.
This acquisition enhances Presco’s production capacity to meet the increasing domestic demand and integrates the new estates into its sustainable operations, improving the supply and efficiency of raw materials.
CEO Reji George stated, “This acquisition is a decisive execution of the commitments we made to our shareholders. During the launch of our recent Rights Issue, we pledged to accelerate our plantation expansion and position Presco for its next phase of growth.”
Nsadop and Boki are strategically located estates that complement the company’s existing operations and will expand the scale required to power their mills and refineries at higher capacity.”
Presco is committed to prioritizing community development, job creation, and responsible resource management in the newly acquired areas, which aligns with national goals for food security and reducing imports.
This strategic move is anticipated to enhance profitability and contribute to the agro-industrial growth in Nigeria. Presco also operates through subsidiaries like GOPDC and Siat Nigeria Limited, with a footprint across West Africa.
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