Ogun State has recorded a major investment milestone following plans by Presco PLC, one of Nigeria’s foremost integrated oil palm companies, to establish operations in the state with an initial investment of approximately $100 million.
The investment is expected to further strengthen Ogun’s agricultural sector while supporting the state government’s drive to attract strategic investments, promote industrial growth, and create sustainable employment opportunities for residents.
The proposed project will expand activities within the oil palm value chain, including cultivation, processing, and related agricultural operations. Beyond boosting food production, the investment is expected to enhance local economic activities, support farmers, develop allied businesses, and contribute to Nigeria’s broader efforts toward achieving food security and reducing dependence on imported agricultural products.
The Ogun State Government said the decision by Presco PLC to invest in the state demonstrates growing investor confidence in its economic policies and commitment to providing an enabling environment for businesses to thrive.
Officials noted that the project is projected to generate thousands of direct and indirect jobs, increase economic activities, and strengthen the state’s revenue base through increased commercial and industrial activities.
The administration reaffirmed its commitment to implementing its “Building Our Future Together” agenda by attracting more private sector investments that will diversify the economy and improve the livelihoods of citizens.
With its strategic location, growing industrial base, and investor-friendly policies, Ogun State continues to position itself as one of Nigeria’s leading investment destinations, with agriculture, manufacturing, infrastructure, and technology identified as key sectors for future growth.
