$200M Oil Palm Investment to Create 5,000 Jobs in Abia

Presco Plc, West Africa's leading oil palm company, is investing $200 million to restore Abia State's position as a palm oil powerhouse and create over 5,000 jobs in the process.

The company announced plans to develop oil palm plantations across 14,086 hectares in the Ozuitem, Abam, and Ulonna regions. Chairperson Olakanmi Sarumi shared the news during a meeting with Governor Alex Otti, calling it a continuation of the agricultural revolution that once made eastern Nigeria a national leader in palm oil.

The jobs will span plantation operations, milling facilities, logistics, and support services. Company leaders hope the employment opportunities will keep young people in rural areas and spark community development across the region.

Beyond direct employment, the investment is expected to boost small and medium enterprises and attract downstream industries that rely on palm oil products. Presco estimates the project will add billions of naira to Abia State's GDP annually through agricultural output, tax revenues, and ripple effects across local value chains.

Governor Otti welcomed the investment, noting that Abia's fertile land and favorable topography make it ideal for large scale oil palm cultivation. He referenced the farm settlement schemes established by former Eastern Nigeria Premier Michael Okpara in the 1960s, which transformed the region into Nigeria's palm oil capital.

"If you are employing over 20,000 people, directly and indirectly, this will significantly contribute to the economy," Otti said. "That's what interests me: jobs for my people and a positive impact on the GDP."

The Ripple Effect

This investment reaches far beyond the plantation gates. The 5,000 direct and indirect jobs represent families lifted, schools funded, and communities strengthened. Local businesses from equipment suppliers to food vendors will see increased demand as workers spend their wages in nearby towns.

The downstream industries attracted by reliable palm oil supplies could multiply those benefits further. Products ranging from cooking oil to cosmetics to biofuels all depend on palm oil derivatives, meaning one plantation investment could spark an entire industrial ecosystem.

Perhaps most importantly, the project offers young people a reason to build their futures at home rather than migrating to overcrowded cities in search of opportunity.

The state government committed to facilitating land acquisition and ensuring fair compensation for host communities. Both parties plan to sign a Memorandum of Understanding to move the project toward implementation, with Presco pledging to honor all compensation agreements.

The investment breathes new life into a proud agricultural heritage while creating pathways to prosperity for thousands of families.