Presco has commenced operations on a new $100 million oil palm investment in Nigeria’s Ogun State, marking a significant expansion in the country’s agricultural processing capacity.
The project, which includes initial operational phases, underscores growing investor appetite for Nigeria’s agribusiness sector amid broader economic reforms.
The move comes as Nigeria’s palm oil industry celebrates a record performance, with national output reaching 1.57 million tonnes in 2025.
Industry leaders, including Presco and Okomu, have reported substantial profit growth, driven by increased domestic demand and improved supply chain efficiencies.
This expansion aligns with the government’s push to reduce reliance on imported vegetable oils and boost local production capabilities.
While the investment is primarily focused on agricultural commodities, it reflects a broader trend of capital flowing into Nigeria’s non-oil energy and food security sectors.