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 in 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 as at January 2024 is 4,923 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 as at January 2024 is 1,980 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 8,614 hectares have been planted.

Recently, the Ato estate was acquired, 14,000 hectares concession of which 10,942 hectares have been planted as at January 2024.

The Presco total planted area amounts to 26,459 hectares as at January, 2024.

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.