Brief history

During the seventies, the Government of the then Bendel State of Nigeria (which was divided into two states: Edo State and Delta State in 1991) initiated a programme for the development of oil palm cultivation with the financial support of the World Bank. The state-owned Oil Palm Company Ltd (OPC) established Obaretin Estate and planted 1,150 hectares between 1975 and 1980. The plantation is located in the Ikpoba-Okha Local Government Area of Edo State at km 22 on the Benin City-Sapele road, south of Benin City.

nv Siat sa became involved in Presco in 1991, at which time there were 2,700 hectares planted at Obaretin Estate. Under Siat’s management, a new expansion programme commenced from 1993 and an additional 3,000 hectares was planted at Obaretin Estate. The total planted area at 31 March 2019 was 5,599 hectares.

In 1996 Presco acquired the 2,780 hectare Cowan Estate at Ajagbodudu, Delta State, from the Delta State Government-owned Oil Palm Company Ltd. The total planted area at 31 March 2019 was 2,389 hectares.

In 2002, Presco acquired 6,000 hectares from Edo state government and another 1,500 hectares from other parties making a total of 7,500 hectares in the Ologbo Estate.Other subsequent acquisitions in Ologbo brings the estate to a concession of 13,000 hectares, of which 8.660 hectares planted.

Recently, the Sakponba estate was acquired, 14,000 hectares concession of which 7,000 hectares are planted.

The Presco total planted area amounts to 23,660 hectares as at 31 March 2019.

The company’s operations are fully integrated with plantations, palm oil mill, palm kernel crushing plant and vegetable oil refining plant. It is the only fully integrated operation in Nigeria.

 

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