Ogun State has achieved another major investment milestone with Presco PLC, one of Nigeria’s leading integrated oil palm companies, committing an initial $100 million to establish operations in the state. The development underscores the growing confidence of local and international investors in the business-friendly policies of Governor Dapo Abiodun’s administration.
Presco’s Group Chief Executive Officer, Mr. Adewale Arikawe, disclosed the investment following a meeting with Governor Abiodun at the Governor’s Office, Oke-Mosan, Abeokuta. He explained that the company chose Ogun State after a thorough assessment of its strategic location, robust infrastructure, and enabling policies designed to attract and sustain investments.
Arikawe noted that Presco’s fully integrated operations—spanning plantation development, processing, refining, and consumer product manufacturing—will support the state’s agricultural transformation agenda. The investment is expected to generate thousands of direct and indirect jobs, stimulate economic growth, and strengthen Ogun’s position as Nigeria’s foremost industrial and agricultural hub.
“We are a fully integrated oil palm business, from the farm to the table. We have seen remarkable development in Ogun State and believe this is the next place to invest. In terms of total investment, we are looking at between $150 million and $200 million, which will create thousands of jobs and significantly increase the state’s revenue,” Arikawe said.
Commissioner for Agriculture and Food Security, Mr. Bolu Owotomo, added that Presco PLC, with a market capitalization of about ₦2 trillion, recently raised substantial capital from the Nigerian capital market, a significant portion of which will be invested in Ogun State. He described the move as a strong endorsement of Governor Abiodun’s deliberate economic policies, which continue to position the state as a preferred destination for investors across critical sectors.
Owotomo emphasized that beyond expanding the agricultural value chain, the investment will enhance food security, boost internally generated revenue, promote rural development, and create sustainable employment opportunities for thousands of residents.
The Presco investment joins a growing list of high-value projects attracted under the Abiodun administration in agriculture, manufacturing, energy, housing, logistics, and other strategic sectors. Together, these initiatives reflect the government’s unwavering commitment to building a resilient, diversified, and inclusive economy under its Building Our Future Together agenda.
