Edo State has strengthened its position as a leading hub for agricultural investment as Governor Monday Okpebholo reaffirmed the government’s unwavering support for Presco PLC, following the company’s receipt of a landmark $100 million Foreign Direct Investment from SIAT and its parent company.
Speaking in Government House, Benin City, while hosting Presco’s management team led by Chairman Mr. Rasheed Sarumi and Managing Director Mr. Raji George, the Governor described the investment as a major endorsement of Edo’s agricultural potential and its stable business environment.
Reacting to recent reports suggesting tensions over land matters, Governor Okpebholo dismissed such claims as political distractions, stressing that Presco remains a valued partner in the State’s economic development. He explained that the earlier land review was tied to natural resource considerations, not hostility toward investors.
The Governor emphasised that his administration prefers transparent dialogue over rumours or speculation and recalled personally intervening in past community compensation concerns by engaging Presco’s leadership directly.
He noted that upon assumption of office, he immediately raised the agriculture budget from N5 billion to N70 billion to drive food security and expand agro-industrial activity across the state.
According to him, “agricultural revolution” aligns perfectly with President Bola Tinubu’s Renewed Hope Agenda, and Edo’s fertile land places the state at a strategic advantage for value-driven investment and export-oriented production.
Governor Okpebholo also condemned narratives portraying Edo as unfriendly to investors, calling such portrayals “satanic” and far from the reality of a state committed to economic growth. He reaffirmed that as an investor himself, no administration under his leadership would frustrate private sector participation.
In his remarks, Presco Chairman Mr. Rasheed Sarumi commended the Governor for providing a stable governance framework and improved security architecture, factors he said played a decisive role in SIAT’s $100 million investment commitment.
He further added that with Nigeria attracting only about $250 million in FDI this year, Presco’s share represents a significant boost to both Edo State and the national economy.
