Ogun Secures $100 Million Presco Investment to Revive Apoje Farms

 



Aina Obasanjo 


The Ogun State Government has announced plans for a one hundred million dollar investment by Presco Plc to revive the Apoje Farms plantation in Ijebu-Igbo, as part of efforts to boost agricultural production, create employment and strengthen food security.

The Commissioner for Agriculture and Food Security, Hon. Bolu Owotomo, disclosed this during a stakeholders' meeting held at the palace of the Orimolusi of Ijebu-Igbo, Oba Lawrence Adebajo. 



The meeting brought together members of the Ijebu-Igbo Traditional Council and representatives of Presco Plc to discuss the proposed partnership.


Hon. Owotomo noted that the investment is expected to unlock the economic potential of the plantation and stimulate inclusive economic growth in Ogun State. 

He said that Presco Plc, a company listed on the Nigerian Exchange with a market capitalisation exceeding two point five trillion naira, is expected to begin operations immediately after the agreement is signed, a process anticipated within the next thirty days.

Hon. Owotomo said the initiative aligns with Governor Dapo Abiodun's vision of attracting credible private sector investment to transform agriculture into a key driver of economic growth, employment and food security.

The Orimolusi of Ijebu-Igbo, Oba Lawrence Adebajo, commended the state government for attracting the investment, describing it as a major opportunity for economic development in the area. He assured the government and investors of the support of the traditional institution and host communities.

Meanwhile, the Commissioner also inspected the damaged access road leading to Solis Agro Limited in Japara as part of his oversight responsibilities. 

He called on the company to support the rehabilitation of the road under its corporate social responsibility initiatives and urged it to speed up planting activities in line with its investment commitments.

The Agriculture Commissioner reaffirmed the committed of the present administration to promote sustainable agricultural development through strategic partnerships and responsible private sector investment.


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