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Abia State Governor, Alex Otti, has called for the speedy commencement of Presco Plc’s proposed agricultural investment in the state, identifying Ulonna Farm Settlement as the starting point for the oil palm development project.
The governor made the proposal during a meeting with the company’s delegation, headed by its Chairman, Rasheed Sarumi, at Government House, Umuahia, on Thursday, October 15, 2026.
Otti said the state-owned Ulonna Farm Settlement already had about 4,200 hectares of land that could accommodate the initial phase of the project, pending the resolution of issues surrounding additional land required by the company.
He urged Presco to take advantage of the available land rather than wait for all the requirements to be completed, stressing that the government was determined to turn the proposed investment into a functioning business.
Addressing concerns over community land, the governor said consultations with the relevant traditional and community leaders would be necessary to secure the cooperation of the affected populations. He maintained that his administration would not dispossess residents of their land and promised to facilitate the process of obtaining the remaining land.
The governor also called for an agreement that would guarantee Abia a fair share of the economic benefits arising from the partnership. He said the state’s contribution through land provision, business support, stability and access to markets justified its participation in the investment’s ownership structure and board representation.
Otti assured the delegation that his administration was prepared to conclude the necessary agreements, urging the company to address outstanding matters so that work could begin without further delay.
Speaking during the meeting, Sarumi said Presco had continued discussions with relevant stakeholders for seven months in preparation for the investment. He praised the state government for demonstrating a willingness to support private businesses and expressed optimism about the project’s prospects.
According to the Presco chairman, the company’s plans cover the rehabilitation of the existing plantation at Ulonna through the removal of old trees and replanting, alongside the proposed development of about 12,000 hectares of community land in Ozuitem.
The investment is projected to create approximately 5,000 direct employment opportunities, generate tax revenue for the state and stimulate economic activities through demand for local goods and services needed to sustain plantation operations.
Presco Plc specialises in oil palm cultivation and the processing of palm products, including extraction, refining and fractionation. Its proposed entry into Abia is expected to support the state’s drive to expand agricultural production and attract industries capable of creating jobs and boosting local economic activity.
Other officials at the meeting included Afrinvest Group Managing Director, Ike Chioke; Commissioner for Agriculture, Dr. Cliff Agbaeze; Commissioner for Lands, Chaka Chukwumerije; and Chief Executive Officer of PPP/IP, Chinedum Chijioke.
