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From Tony Osauzo, Benin
Edo State Governor, Senator Monday Okpebholo, has assured Presco PLC of the state government’s strong support, emphasising that the state remains a prime destination for agricultural investment.
The governor gave the assurance when he received the management team of Presco Plc led by the Chairman, Mr. Rasheed Sarumi, and the Managing Director, Mr. Raji George, during a visit to the Government House, Benin City.
Governor Okpebholo, while welcoming the delegation, stated that Presco had been a long-standing partner in Edo State’s agricultural development and dismissed recent controversies surrounding portions of land for revocation.
“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 said.
The governor noted that whenever there are issues, his administration prefers dialogue to 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.
Reaffirming his commitment to agricultural expansion, Okpebholo disclosed that upon assumption of office, he increased the agriculture allocation in the inherited budget from N5 billion to N70 billion, signalling his administration’s determination to drive 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,” he stated.
The governor condemned narratives portraying Edo as hostile to investors, describing such claims as 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,” Okpebholo assured.
Earlier, Presco Chairman, Mr. Rasheed Sarumi, announced a $100 million Foreign Direct Investment (FDI) by SIAT and its parent company into Presco’s operations; an investment he described as historic and the first of its kind in Nigeria’s agricultural sector.
He praised the Governor for providing a stable governance structure, improved security and an enabling environment that encouraged SIAT’s $100 million investment decision. He noted that Nigeria received only $250 million in FDI this year, making Presco’s share a significant boost to the national economy.
Mr. Sarumi announced a $100 million Foreign Direct Investment (FDI) by SIAT and its parent company into Presco’s operations; an investment he described as historic and the first of its kind in Nigeria’s agricultural sector.
He expressed confidence that the new investment would strengthen Presco’s expansion plans and reinforce Edo State’s position as the centre of Nigeria’s agro-industrial revolution.
Senior government officials present at the meeting included deputy governor, Dennis Idahosa; Secretary to the State Government, Umar Musa Ikhilo; Chief of Staff, Mallam Gani Audu and Commissioner for Agriculture and Food Security, Dr. Jerry Uwangue, among others.
