Presco Plc has proposed a US$100 million investment to revitalise Apoje Farms in Ogun State, Southwest Nigeria, marking a significant step towards expanding commercial agriculture, strengthening food production and creating new employment opportunities in the state. Apoje Farms is an expansive oil palm plantation. The proposal forms part of broader efforts to reposition Ogun as a leading destination for agribusiness investment and agro-industrial development.
The planned investment will focus on restoring and expanding agricultural operations at Apoje Farms while supporting Ogun State's agenda to modernise its agricultural sector. Presco, one of Nigeria's leading integrated oil palm companies, said the investment reflects confidence in the state's business-friendly environment, strategic location and infrastructure. The company added that its total investment in the project could eventually rise to between US$150 million and US$200 million, creating thousands of direct and indirect jobs.
Alongside the proposed investment, Ogun State is advancing programmes to strengthen local food production through capacity-building initiatives targeting youth and women. The programmes will provide practical training in vegetable cultivation and agribusiness, equipping participants with modern production techniques and entrepreneurial skills to increase incomes and expand domestic food supplies.
State officials said the combination of large-scale private investment and grassroots agricultural training is expected to strengthen the agricultural value chain, promote rural development and improve food security. By pairing commercial agribusiness with skills development, Ogun aims to create a more inclusive agricultural economy that benefits both investors and smallholder producers.
The proposed Presco investment adds to a growing pipeline of agricultural and industrial projects attracted to Ogun State, reinforcing its position as one of Nigeria's fastest-growing destinations for agribusiness investment.
NBF Insight
Agricultural transformation requires both large-scale investment and inclusive participation. While commercial projects provide capital, infrastructure and processing capacity, training programmes ensure that young people and women are equipped to participate in modern agricultural value chains.
Ogun State's twin approach, attracting major agribusiness investors while building local production capacity, illustrates how public and private sector collaboration can accelerate rural development, create jobs and strengthen long-term food security.
