• Business - Companies
  • Updated: June 07, 2022

Presco MD Urges Government To Support Oil Palm Research  

In boosting export and economic development Felix Nwabuko, the Managing Director, Presco Plc, has urged government agencies to support oil palm research

Nwabuko made the call while addressing oil palm stakeholders at Presco’s plantation site at Ologbo, near Benin on the occasion of the 'Seed Evidence Day’.

In a statement on Tuesday, Nwabuko said that research was the way to go to sustain investments and development of oil palm production in the country.

According to him, smallholder and outgrower farmers are very critical to the development of the sector.

However, he commended the Central Bank of Nigeria for its efforts in sustaining growth in the sector.

Also speaking, Stephen Idenre, Edo State Commissioner for Agriculture and Food Security, said the government was working to boost oil palm production in the state.

He further explained that the state government was collaborating with Presco and other stakeholders to produce quality seedlings for Nigeria and the international market.

Also commenting, Emmanuel Ojewere, the President, Nigeria Agribusiness Group, described oil palm as the future of Nigeria and Africa.

Reinout Impens, the Manager, Siat Group Research & Development who spoke on the outcome of research conducted with partners, said the development would boost growth and sustain profitability.

Impens said the Siat Group started a 20-year collaboration with CIRAD, PalmElit and INRAB in 2007, aimed at sustaining progress and development in the oil palm sub-sector.

He said that the “Genetic Block Project” implemented at Presco saw the establishment of progeny trials covering some 500 hectares.

“This project, developed in Africa and one of the largest of its kind in the world, engages over 120 full-time workers to monitor the growth, production, and oil extraction rate components.

“Results indicate that oil yield of over 5t/ha can sustainably be achieved in Africa (against a global average of around 4t/ha and well above the 1t/ha averaged in Nigeria).

“These efforts, by ensuring perpetual progress in genetic potential and regional adaptation, not only provide the Siat Group with guaranties regarding the quality of planting materials used.

“It also safeguards the sustainable growth of the African oil palm industry in general, primarily by increasing yield and thus reducing the need for land conversion or deforestation,” he said. 


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Felicia Abisola  Olamiji
Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

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