Edo State Governor, Monday Okpebholo, has reaffirmed the state’s commitment to agricultural investment, assuring Presco Plc of sustained government support as the company secures a fresh $100 million Foreign Direct Investment (FDI) from SIAT and its parent company.
The governor gave the assurance in Benin on Monday during a courtesy visit by Presco’s management team led by the Chairman, Rasheed Sarumi, and Managing Director, Raji George.
Okpebholo dismissed recent concerns around land reviews involving the company, insisting the issues were technical and not politically motivated. “Presco has been a long-standing partner in Edo.
“Whenever there are concerns, we address them through dialogue, not speculation,” he said.
He revealed that his administration increased the agriculture budget from N5 billion to N70 billion, signaling a renewed push for food security and agro-industrial growth in line with President Bola Tinubu’s Renewed Hope Agenda.
The Governor also rejected narratives suggesting Edo is hostile to investors, describing such claims as “misleading and satanic.”
Sarumi, in his remarks, commended the state government for strengthening security and providing stability that enabled SIAT’s investment decision.
He noted that Nigeria recorded only about $250 million in FDI this year, making SIAT’s $100 million commitment a major boost to both Edo State and the national economy.
Sarumi described the capital injection as a historic milestone, noting that, it represents the largest single FDI inflow into Nigeria’s agricultural sector this year.
