Chukwu Obinna 
Governor Monday Okpebholo
EDO, Nigeria – Edo State government has welcomed a $100 million foreign investment in palm oil, as Governor Monday Okpebholo pledges strong backing for agricultural expansion and industrial growth.
Executives from Presco Plc, including Chairman Rasheed Sarumi and Managing Director Raji George, confirmed that parent company SIAT will channel the capital into Edo’s agro-industrial operations.
Governor Okpebholo dismissed recent land disputes as politically motivated. “Presco has been here for a long time. There was a misunderstanding, but nothing political,” he said. “I prefer personal engagement to address community concerns directly.”
Since taking office, the governor increased Edo’s agricultural budget from five billion to seventy billion naira, emphasising food security and agro-industrial development. “Agricultural revolution aligns perfectly with President Tinubu’s Renewed Hope Agenda. Edo has fertile land, and your investment is secure,” he added.
Chairman Sarumi commended the governor for creating a stable governance and security environment, calling the investment “a landmark contribution to Nigeria’s economy” amid a national FDI of just $250 million this year.
The partnership signals Edo State’s ambition to cement its position as a leading agro-industrial hub while enhancing food production, job creation, and investor confidence.
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