The Abia State Government has approved the commencement of a palm oil production project by agro-industrial company Presco Plc, with plans to create 5,000 jobs and boost economic activities across the state.
The project will involve the rehabilitation of the Ulonna Farm Settlement in Umuahia and the establishment of additional palm plantations in Ozuitem and other locations across Abia State.
Governor Alex Otti announced the approval during a meeting with a delegation from Presco Plc, led by its chairman, Rashid Sarumi, at the Government House in Umuahia.
Otti assured the company of his administration’s commitment to providing the necessary support for the project, including facilitating access to additional land and finalising agreements required for its smooth take-off.
The governor described Abia as a promising investment destination in the South-East and South-South regions, citing the availability of skilled manpower, infrastructure and government support as factors that could attract businesses to the state.
He expressed readiness to work with the company to ensure the successful implementation of the project and maximise its potential benefits for residents.
Speaking during the meeting, Sarumi said Presco had spent seven months engaging relevant stakeholders to prepare for the establishment of its operations in the state.
He described the project as commercially viable, noting that it would deliver benefits beyond employment generation.
According to him, the palm oil production venture is expected to increase the state’s tax revenue while creating demand for goods and services needed to support plantation operations.
Sarumi commended the Otti administration for its understanding of business and its support for the investment, expressing confidence in the company’s ability to establish a successful operation in Abia.
The project is expected to contribute to agricultural development, expand economic opportunities and strengthen the state’s agro-industrial sector, with the proposed 5,000 jobs forming a major part of its anticipated impact.
