Brief history

During the seventies, the Government of the former Bendel State of Nigeria (which is now divided into two states: Edo State and Delta State) 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 December 2004 was 5,527 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.

Apart from the Obaretin and Cowan Estates, Presco has concluded the acquisition of 6,000 hectares at Ologbo and an additional 700 hectares at Obaretin to develop a new plantation and expand the Obaretin Estate.

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 West Africa.