Belgian agro-industrial group SIAT NV has invested $100 million in Presco Plc, Nigeria’s largest fully integrated palm oil processor, chaired by Rasheed Sarumi.
The funding is part of a $1 billion plan to expand operations across Nigeria over the next decade, creating thousands of jobs and boosting local output.
The investment will scale Presco’s production, expand plantations, and enhance value-added processing, reinforcing Nigeria’s position in the regional edible oils and specialty fats market.
Presco’s profit has risen to N110.79 billion ($75.7 million) in the nine months ended Sept. 30, 2025, driven by strong shareholder returns and government policies aimed at reducing dependence on imported vegetable oils.
