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From Tony Osauzo, Benin
Edo State Governor Monday Okpebholo has assured Presco PLC of continued state government support, underlining Edo’s status as a prime destination for agricultural investment.
He gave this assurance while receiving Presco PLC’s management team, led by Chairman Mr Rasheed Sarumi and Managing Director Mr Raji George, on a courtesy visit to Government House, Benin City.
Chairman Mr Sarumi announced a $100 million Foreign Direct Investment (FDI) by SIAT and its parent company into Presco’s operations—describing it as historic and the first of its kind in Nigeria’s agricultural sector.
Governor Okpebholo welcomed the delegation and described Presco as a longstanding partner in Edo’s agricultural development, dismissing recent controversies about land revocation as misunderstandings that were politicised.
“Presco to me has been here for a very long time. Just a few days ago, there was a misunderstanding, which I believe someone tried to politicise. There was nothing in it. There were reasons tied to natural resources why certain areas were reviewed,” he stated.
The governor emphasised dialogue over speculation or misinformation. “If I have anything against you, I will call you. Last time I received complaints from communities on compensation, I called your MD immediately because I believe in addressing issues directly,” he added.
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He disclosed that since taking office, he has increased agriculture’s budget allocation from ₦5 billion to ₦70 billion, signalling his administration’s strong commitment to food security and agro-industrial growth.
“Agricultural revolution is the best way to go, and it aligns perfectly with President Tinubu’s Renewed Hope Agenda. For food security, we must grow what we eat and export what we grow. Edo has fertile land, and your investment here is not a waste,” Okpebholo said.
He condemned claims that Edo is hostile to investors, calling such narratives misleading and “satanic.” “I am an investor myself. I cannot be the one sending investors away. That impression is completely wrong. You are here by the grace of God, and you will prosper here,” he assured.
Earlier, Presco Chairman Mr Rasheed Sarumi praised the Governor for stable governance, better security, and a welcoming environment that encouraged SIAT’s $100 million investment. He highlighted Nigeria’s total $250 million FDI for the year, noting Presco’s investment as a significant boost to the national economy.
He expressed confidence that the new investment would bolster Presco’s expansion and reinforce Edo as a centre of Nigeria’s agro-industrial revolution.
Senior government officials present included Deputy Governor Rt Hon Dennis Idahosa; Secretary to the State Government Umar Musa Ikhilo, Esq.; Chief of Staff Mallam Gani Audu; and Commissioner for Agriculture and Food Security Dr Jerry Uwangue, among others.
