Presco Plc has announced the strategic acquisition of 10,000 hectares across the Nsadop and Boki plantations in Cross River State. The transaction marks a major milestone in the company's long-term expansion strategy and further consolidates Presco's position as the dominant player in Nigeria's palm oil industry.
The acquisition significantly expands Presco's production footprint and strengthens the company's ability to meet the rapidly growing domestic demand for Edible Oil Products. 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.
Managing Director and CEO of Presco Plc, Reji George, commented:
"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. 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, it is about strengthening our leadership, securing long-term supply, and reinforcing our belief in the future of Nigeria's agribusiness sector."
