Presco Plc has announced the acquisition of 10,000 hectares across the Nsadop and Boki plantations in Cross River State.
In a statement issued on December 18, 2025, the edible oils producer said the transaction forms part of its long-term growth strategy aimed at scaling raw material supply and supporting higher processing and refining capacity across its value chain.
The newly acquired estates are expected to strengthen Presco’s ability to meet rising domestic demand for edible oil products by expanding access to oil palm feedstock.
The company said the integration of the Nsadop and Boki plantations will enhance agronomic potential and improve supply security for its milling and refining operations.
Commenting on the acquisition, Managing Director and Chief Executive Officer of Presco Plc, Reji George, said the transaction delivers on commitments made to shareholders during the company’s recent rights issue, where management outlined plans to accelerate plantation expansion.
Presco said it will deploy its established operating model at the newly acquired plantations, with a focus on sustainable agriculture, community engagement, and responsible land management.
The company plans to work closely with host communities, replicating its social investment and employment framework to ensure a stable operating environment.
The acquisition expands Presco’s plantation base by 10,000 hectares and aligns with broader national objectives to boost food security, reduce dependence on imported edible oils, and support agro-industrial development.
The company said the estates are expected to contribute to productivity and profitability over the medium to long term as they are upgraded and fully integrated into operations.
Presco Plc is listed on the Nigerian Exchange under the ticker PRESCO and operates an integrated edible oils business spanning oil palm cultivation, processing, refining, and marketing.