Belgian agribusiness giant SIAT NV has announced a $100 million investment into Presco Plc, one of Nigeria’s leading palm oil and agro-processing companies. The fresh capital injection forms part of a wider plan to expand Presco’s operations and strengthen Edo’s growing reputation as a hub for agricultural and industrial development.
According to a corporate statement, the $100 million fund will be deployed to scale up industrial capacity, accelerate plantation expansion, and deepen value addition across Presco’s processing lines. The company added that the investment would also support technology upgrades, workforce development, and Nigeria’s competitive position in the regional edible oils and speciality fats market.
Speaking on the new investment, the Chairman of Presco Plc, Olakanmi Sarumi, said the move underscores the company’s confidence in Nigeria’s economic reforms and Edo State’s business environment.
“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,” Sarumi said.
First Tranche of $1bn FDI Plan
The $100 million investment represents the first tranche of an ambitious $1 billion foreign direct investment plan by SIAT NV, aimed at accelerating agro-industrial development across Nigeria over the next ten years.
The statement noted that the scale of this commitment highlights the importance of effective subnational governance in attracting global capital. It specifically praised the leadership of Edo State Governor Monday Okpebholo, citing improvements in security, governance frameworks, and a more business-friendly environment that continues to draw large-scale investors to the state.
