Presco PLC to Invest $100m+ in Ogun’s Oil Palm Sector, Creating Thousands of Jobs

Ogun State has attracted a major oil palm investment as Presco PLC plans to inject $100 million into the state’s agricultural sector. The company’s CEO, Adewale Arikawe, met Governor Dapo Abiodun at the Government House in Abeokuta to finalise the deal. Presco highlighted Ogun’s strategic location, strong infrastructure and investor-friendly policies as key reasons for its expansion. Arikawe said the total investment could rise to $150–200 million, supporting the state’s agricultural transformation and generating thousands of direct and indirect jobs. Agriculture Commissioner Bolu Owotomo noted that Presco, with a ₦2 trillion market capitalisation, will use capital raised from the Nigerian market to deepen Ogun’s value chain. The move aligns with the government’s Building Our Future Together agenda, reinforcing Ogun’s appeal across agriculture, manufacturing and other strategic sectors.

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