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Presco Plc a Nigerian leading fully integrated edible oils group 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.
Reji George, Managing Director and CEO of Presco Plc, 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.”
Presco will apply its proven model of sustainable agriculture, community development, and responsible land stewardship to Nsadop and Boki.
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.
The acquisition of the Nsadop and Boki plantations in Cross River State by Presco Plc is a transformative move that cements its position as West Africa’s undisputed leader in the oil palm industry.
By adding 10,000 hectares to its already massive land bank, Presco is directly addressing Nigeria’s chronic edible oil deficit, while fulfilling a key promise to shareholders following its recent ₦237 billion Rights Issue.
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