Presco Plc Nigeria

A brief history

When Siat became involved in Presco in 1991, the Company had only the Obaretin Estate with an oil palm plantation size of 3,000 ha. Under Siat’s management, a new expansion programme commenced from 1993 onwards, as a result of which a total of 23,500 ha are planted at the Obaretin, Cowan, Ologbo and Sakponba Estates. 

Apart from the existing estates, Presco has acquired a total area of about 11,500 ha at Ologbo and Sakponba to develop additional oil palm and rubber plantations.

Presco has been listed on the Nigerian Stock Exchange since 2002, and has recently been admitted into the NSE 30 index. The Siat Group holds 60% of the shares while 10,000 Nigerian shareholders hold the remaining 40%.

Siat manages Presco under a management contract.

Presco today

Presco today consists of:

• Oil palm plantations of 23,500 hectares of which 14,500 are mature
• A palm oil mill with a capacity of 90 tonnes fresh fruit bunches/hour
• A refinery / fractionation plant with a capacity of 100 tonnes/day
• A palm kernel crushing plant with a capacity of 100 tonnes/day
• Storage capacity for products of 10,000 tonnes.

Future prospects and strategy

Presco aspires to remain the leader in the oil palm agro-industry in Nigeria. Through its fully integrated production chain (from seedling to finished product) the company is able to produce speciality oils and fats of outstanding quality to customer’s specification and is able to guarantee reliability of supply of its products the whole year round. 

By increasing planted areas and improving yields using modern planting material, the company expects its production to grow. In order to cope with this increase, Presco plans to expand its processing facilities accordingly. This expansion programme will help the company to face its ever increasing demand from its Nigerian clients.

Presco continuously invests in research and development in high performing palm hybrids, but also for new products for the food industry.

For further information on Presco Plc please visit www.presco-plc.com.