Presco Plc Targets  15,000 Hectares,  Hails Govt’s Focus on Agric


Presco Plc, a palm oil producing firm, has set aside 15,000 hectares for cultivation in Edo State as part of  its ongoing expansion drive.  The Managing Director of Presco Plc, Mr. Felix Nwabuko, who disclosed this while speaking to journalists, noted the company has cultivated its new 3600 hectares in Orhionmwon Local Government.

He explained that this year the company  intends to plant on 4000 hectares, saying, “If we  can do 100, 000 hectares in Edo State, we will do it.”

According to him, the company’s 15,000 hectares expansion project is as a result of the far-reaching reforms being implemented by the Edo State Government in the agriculture sector.

 “The deliberate effort and reforms initiated by the Godwin Obaseki led-administration and the federal government, to prioritise agriculture as an alternative means to derive economic growth, are highly commendable.”

He lauded Governor Obaseki’s initiative to make land available for investors, who are ready to invest in the people and other resources in Edo State.  “I am excited that the state government is mapping out land through the Geographic Information Service (GIS) initiative, for allocation of land for investors who mean business in the state. We expect that state government would speed up the process,” Nwabuko said.

“In 2016, we decided to expand on three areas, all of which complement the policies of the state and federal government on agriculture. The areas include; import substitution, as every additional ton of what we produce as we expand will limit what the country imports,” he added.

Explaining that creating alternative means of driving sustainable economic growth other than proceeds from crude oil is a bold step, he said: “The initiative to focus on agriculture reforms to drive economic growth is noble as it becomes important that government realises that agriculture is key to sustainable growth.”

The Presco boss,  who is a member of the Edo State Agriculture Committee, noted, “I am privy of the policies and efforts of the Obaseki led-administration on agriculture reforms capable of sustaining the economy and serving as means of job creation even far into the future.”

 “It is important that governments focus on agriculture, despite Nigeria’s huge crude oil reserve, the pattern of usage and other factors can upset the value of crude oil which may spell doom for an economy which depend largely on the proceeds to spur economic growth.”

“But considering the impact of agriculture, one has to consider the fact that agriculture has been with man and will remain with man till the end. So, it is a right decision to prioritise agriculture and pay attention to the sector to drive economic growth the way government is doing now.”