Abia State Governor, Dr. Alex Otti, has called on PRESCO Plc to commence its proposed agro-industrial investment in the state with the government-owned Ulonna Farm Settlement, as his administration works to secure additional land for the project.
Governor Otti made the appeal on Thursday, October 15, 2026, when he received a delegation from PRESCO Plc, led by its Chairman, Mr. Rasheed Sarumi, at Government House in Umuahia.
The proposed investment is expected to strengthen Abia’s agricultural sector, create employment opportunities and stimulate economic activities through oil palm cultivation and processing.
Otti Proposes Ulonna as Starting Point for PRESCO Investment
During the meeting, Governor Otti suggested that PRESCO should begin operations at Ulonna Farm Settlement, where the state government already has a substantial landholding, while discussions continue over additional land required for the project.
According to the governor, the settlement covers approximately 4,200 hectares, providing a practical starting point for the company’s proposed investment.
He explained that beginning with the available government-owned land would allow the project to progress while the necessary arrangements for acquiring additional land are being addressed.
Otti also acknowledged concerns among some host communities regarding the proposed use of their land. He advised PRESCO to engage directly with community leaders to resolve outstanding issues and build confidence among residents.
The governor emphasized that his administration would respect community interests and work towards a process that addresses the concerns of affected landowners.
He assured the company that the government would facilitate access to the additional land required, while acknowledging that the process would take time to complete.
Abia Government Promises Support for Agricultural Investors
Governor Otti described Abia as an attractive destination for investors interested in agriculture and industrial development, citing the state’s workforce, infrastructure and government support as important factors.
He expressed his administration’s readiness to conclude the necessary agreements and urged PRESCO to resolve outstanding matters so that work could begin without unnecessary delays.
The governor also stressed that the proposed partnership should provide benefits for both the company and the state.
According to him, Abia’s contribution extends beyond land to include a stable operating environment, government facilitation and access to markets for products generated by the investment.
Otti therefore called for an arrangement that would give the state a reasonable equity stake, however small, alongside appropriate representation on the company’s board.
He maintained that the partnership should reflect the contributions of both parties and establish a framework for shared economic benefits.
PRESCO Projects 5,000 Direct Jobs from Proposed Investment
Earlier, PRESCO Plc Chairman, Rasheed Sarumi, commended the Otti administration for its engagement with the company and its support for the proposed investment.
Sarumi expressed confidence in the project’s prospects, stating that the company was encouraged by the state government’s understanding of business and its willingness to create favourable conditions for investors.
He disclosed that PRESCO’s representatives had spent approximately seven months engaging relevant stakeholders and working towards establishing the investment in Abia.
According to the chairman, the proposed project involves two major locations: Ulonna Farm Settlement and community land in Ozuitem.
At Ulonna, the company intends to rehabilitate existing plantation areas by clearing old trees and replanting them to support renewed agricultural production. The second component involves a proposed development on community land in Ozuitem, covering approximately 12,000 hectares, according to Sarumi.
The investment is expected to require substantial capital expenditure and generate economic benefits for the state.
Among the anticipated benefits are approximately 5,000 direct jobs, increased tax revenue and opportunities for local businesses providing goods and services to support plantation operations.
If implemented as proposed, the project could create new employment opportunities while expanding agricultural production and strengthening commercial activities in communities connected to the plantation.
Government and Business Leaders Attend Meeting
The meeting was attended by the Group Managing Director of Afrinvest, Mr. Ike Chioke, who was part of the PRESCO delegation.
Also present were the Commissioner for Agriculture, Dr. Cliff Agbaeze; the Commissioner for Lands, Mr. Chaka Chukwumerije; the Chief Executive Officer of Public-Private Partnership and Investment Promotion, Mr. Chinedum Chijioke; and other senior government officials.
The discussions focused on accelerating the proposed investment, resolving land-related concerns and establishing an agreement that would support cooperation between PRESCO and the Abia State Government.
The next steps include addressing outstanding issues, completing the necessary agreements and facilitating access to the land required for the project.
The proposed PRESCO investment represents a potential expansion of Abia’s agro-industrial activities, with projected benefits spanning employment, agricultural production, government revenue and local enterprise development.
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However, the projected benefits will depend on the successful completion of negotiations, the resolution of land-related concerns and the eventual implementation of the investment.
Source: Ctz. Ukoha Njoku, Chief Press Secretary to the Executive Governor of Abia State.
