Economy
Abia signs $200m palm oil investment deal with Presco Plc
Abia State says it is preparing a $200 million memorandum with Presco Plc for palm oil production and processing, with authorities projecting thousands of jobs across plantations and logistics.
<p>Abia State Governor Alex Otti said the state is preparing to sign a $200 million memorandum of understanding with Presco Plc to develop palm oil production and processing in southeastern Nigeria.</p><p>Presco chairman Olakanmi Rasheed Sarumi said the company wants to expand into Abia and identified Ozuitem, Abam and Ulonna as candidate areas. The state says the project could create thousands of jobs across plantation operations, milling, logistics and related services.</p>