Abia State Governor, His Excellency, Dr. Alex Otti, OFR, has urged Presco Plc, a leading Nigerian agro-industrial company specializing in oil palm cultivation, extraction, refining, and fractionation, to commence its proposed investment in the State from the government-owned Ulonna Farm Settlement.
Governor Otti made the call on Thursday, October 15, 2026, while receiving a delegation of Presco Plc led by its Chairman, Mr. Rasheed Sarumi, at Government House, Umuahia.
Gov. Otti suggested that the company should begin its operations at Ulonna, where the government already has a substantial land holding, while arrangements are being made to secure additional land required for the project.
“I think we can start from the known to the unknown. We have Ulonna Farm Settlement that belongs to the government. We have about 4,200 hectares at Ulonna. So, if you are looking for 10,000 hectares and you already have 4,200, what you are looking for is just slightly less than 6,000 hectares,” Governor Otti stated.
The Governor acknowledged that there were concerns and contentions surrounding some of the proposed community lands and urged the company to work through the leadership of the affected communities to address them.
“Let’s go through the leadership of those communities. People are not sure that their lands are not going to be grabbed. But they also know that this government does not grab land,” Gov. Otti said.
Governor Otti assured Presco that his administration would facilitate access to the additional land required, noting that while the process would take time, government is committed to delivering on it.
“Once we start, everything cannot be done in one day. So, one thing you can be sure of is that we will get the other land you require,” The Governor assured.
The State Chief Executive described Abia as one of the best destinations for business in the South-East and South-South, citing the availability of skilled manpower, improved infrastructure and strong government support as factors that make the State attractive to investors.
“This is one of the best places to do business in the South-South and South-East. So, in terms of the people, in terms of infrastructure, and in terms of support from government, we are ready,” The Governor said.
Governor Otti expressed readiness to sign the Memorandum of Understanding (MoU) required to commence the project and urged the company to resolve all outstanding issues to enable immediate takeoff.
“So, if there are dotted lines, let’s sign them and let’s start,” Governor Otti said.
The Governor stressed that the partnership must recognize the interests of both parties in terms of some equity for the State no matter how small, noting that beyond land, Government brings stability, an enabling business environment and market access to the table, and therefore expects reasonable consideration in benefits and representation on the board.
“There is something we bring. We bring you stability. We bring an enabling environment. We also bring market. Whatever you produce, Abia will take it and then export,” Governor Otti stated.
Earlier, the Chairman of Presco Plc, Mr. Rasheed Sarumi, commended the Otti administration for its understanding of business and support for the proposed investment, expressing confidence that the company would establish a successful operation in Abia.
“The promise I made when we came was that this investment would be made because we have a government that understands business,” Mr. Sarumi said.
He noted that investors prioritize locations where conditions for investment are favourable, adding that Presco’s team had spent seven months engaging stakeholders to establish the project.
Mr. Sarumi explained that the proposed investment comprises two major locations: Ulonna Farm Settlement, where the company plans to rehabilitate existing land by clearing old trees and replanting, and approximately 12,000 hectares of community land at Ozuitem.
According to him, the investment will involve substantial capital expenditure and create significant economic opportunities for the State, including about 5,000 direct jobs, tax revenues and stimulation of local businesses to support plantation operations.
The Group Managing Director of Afrinvest, Mr. Ike Chioke, was part of the delegation, while the Commissioners for Agriculture, Dr. Cliff Agbaeze, and Lands, Mr. Chaka Chukwumerije, CEO, PPP/IP, Mr. Chinedum Chijioke, among other top government officials, were present at the meeting.
Ctz. UKOHA, NJOKU UKOHA
Chief Press Secretary to the Executive Governor of Abia State.
October 15, 2026.
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