Presco Expands Palm Oil Dominance With 10,000 Hectare Acquisition

Presco Plc has announced the acquisition of 10,000 hectares of land across Nsadop and Boki plantations in Cross River State, marking a significant milestone in the company’s expansion strategy.

The acquisition strengthens Presco’s position as the dominant player in Nigeria’s palm oil industry, expanding its production footprint and enhancing its ability to meet growing domestic demand for edible oil products.

The company plans to apply its sustainable agriculture model and community development framework to the acquired estates, supporting job creation and national food security.
By integrating these estates into the Group, Presco will unlock new agronomic potential and secure a broader raw material base to support higher processing and refining throughput across its value chain.
The managing director and CEO of Presco, 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.”

He said, “Today’s announcement delivers on that promise. Nsadop and Boki are strategically located estates that complement our existing operations and expand the scale required to power our mills and refineries at higher capacity.”

He added, “This move is not only about expanding land, but it is also about strengthening our leadership, securing long-term supply, and reinforcing our belief in the future of Nigeria’s agribusiness sector.”

The Company noted that Presco will apply its proven model of sustainable agriculture, community development, and responsible land stewardship to Nsadop and Boki.

According to Presco, the company plans to work closely with host communities, replicating its established social investment framework, supporting job creation, and ensuring a stable and mutually beneficial operating environment.

“This acquisition represents a pivotal step in Presco’s mission to reshape Nigeria’s edible oils landscape. By expanding its plantation base by 10,000 hectares, Presco advances national food security, reduces reliance on imports, and supports the federal government’s drive toward industrial self-sufficiency.

“As these estates are upgraded and integrated, they are expected to generate meaningful productivity and profitability upside, delivering sustainable long-term value for shareholders while strengthening Presco’s role as a key driver of Nigeria’s agro-industrial transformation.”