Abia State Governor Alex Otti has urged Presco Plc, an agro-industrial company specialising in oil palm cultivation and processing, to commence its proposed investment in the state at the government-owned Ulonna Farm Settlement while arrangements are made to secure additional land.
Otti made the appeal on Thursday, October 15, 2026, when he received a delegation of Presco, led by its Chairman, Rasheed Sarumi, at Government House, Umuahia.
The governor said the state had about 4,200 hectares of land at Ulonna, which could serve as the starting point for the proposed investment while the government worked to secure additional land for the project.
“I think we can start from the known to the unknown. We have Ulonna Farm Settlement that belongs to the government. We have about 4,200 hectares at Ulonna. So, if you are looking for 10,000 hectares and you already have 4,200, what you are looking for is just slightly less than 6,000 hectares,” Otti said.
He acknowledged concerns surrounding some of the proposed community lands and urged the company to engage the leadership of the affected communities to resolve outstanding issues.
“Let’s go through the leadership of those communities. People are not sure that their lands are not going to be grabbed. But they also know that this government does not grab land,” he said.
Otti assured the company that his administration would facilitate access to the additional land required, adding that the process might take time but the government remained committed to providing the necessary support.
He described Abia as an attractive investment destination in the South-East and South-South, citing its skilled workforce, improving infrastructure and government support for businesses.
“This is one of the best places to do business in the South-South and South-East. So, in terms of the people, in terms of infrastructure, and in terms of support from government, we are ready,” the governor said.
He also expressed readiness to sign the memorandum of understanding required to commence the project, urging the company to resolve outstanding issues and begin operations.
“So, if there are dotted lines, let’s sign them and let’s start,” he added.
The governor said the proposed partnership should provide for the state’s equity participation and appropriate representation on the company’s board, noting that the government would contribute land, stability, an enabling business environment and market access.
“There is something we bring. We bring you stability. We bring an enabling environment. We also bring market. Whatever you produce, Abia will take it and then export,” Otti said.
Earlier, Sarumi commended the state government for its understanding of business and support for the proposed investment, expressing confidence in the prospects of establishing a successful operation in Abia.
“The promise I made when we came was that this investment would be made because we have a government that understands business,” he said.
Sarumi disclosed that the company had spent seven months engaging stakeholders to establish the project, adding that the proposed investment would cover two major locations: Ulonna Farm Settlement, where existing plantations would be rehabilitated through the removal of old trees and replanting, and approximately 12,000 hectares of community land at Ozuitem.
He said the investment would require substantial capital expenditure and create economic opportunities, including about 5,000 direct jobs, tax revenue for the state and increased business for local suppliers supporting plantation operations.
The delegation included the Group Managing Director of Afrinvest, Ike Chioke.
Also present at the meeting were the Commissioner for Agriculture, Dr Cliff Agbaeze; Commissioner for Lands, Chaka Chukwumerije; Chief Executive Officer of Public-Private Partnership and Investment Promotion, Chinedum Chijioke; and other government officials.