Plans by Presco Plc to expand its operations have received a significant boost with the decision of a Belgian agro-industrial leader, SIAT NV, to invest about $100 million into the local firm listed on the Nigerian Exchange (NGX) Limited.

Business Post gathered that the $100 million investment from the foreign company will help Presco to scale its industrial capacity, expand plantation development, and drive value-addition across its operations.

Furthermore, the funding package will enhance technology adoption, bolster talent development, and strengthen Nigeria’s position in the regional edible oils and speciality fats market.

Presco believes this investment will benefit the economy of Edo State, where it operates from.

It also disclosed that the new capital injection would not only support operational enhancements but also fuel necessary workforce expansion, further cementing its role as a pillar of economic stability and industrialisation in Edo State and Nigeria.

“Nigeria and Edo State remain at the heart of Presco’s long-term strategy. This renewed commitment reflects our confidence in the country’s reform direction, its resilience, and the strong leadership driving Presco’s consistent performance,” the chairman of the firm, Mr Olakanmi Rasheed Sarumi, stated.

Presco remains a standout performer on the stock exchange and continues to deliver superior returns to its shareholders.

The company is already a strategic driver of the local economy and stands as one of the largest employers of labour in the region.