Presco PLC Secures $100M Investment for Edo State Expansion

Belgian agro-industrial group SIAT NV has invested $100 million in Presco PLC to expand its operations in Edo State, Nigeria. The investment is part of a larger $1 billion commitment to enhance production capacity and technology upgrades over the next decade.

This move aims to strengthen Nigeria's position in the edible oil market, create thousands of jobs, and boost the local economy. The investment reflects confidence in Nigeria's reforms and leadership, signaling growth in the agro-industrial sector, particularly in Edo State.