Presco Plc, a palm-oil processing firm, has signed a partnership deal with the Edo State Government to develop high yielding oil palm seeds in the state.
Speaking about the deal, Chairman/CEO of Presco Plc, Pierre Vandebeeck, said the partnership will enable the company to develop smallholder oil palm farms using technology. This, he said was why Presco was contracted as it has ‘In-Vitro culture’ – a technology used for multiplying seeds.
Vandebeeck explained that the company plans to create a special outlet in Nigeria for the propagation and distribution of high yielding planting materials. He added that Edo state was regarded as a first choice location because of its ease of doing business as well as friendly government policies and hospitality in the state.
Speaking on the partnership, Edo State Governor, Godwin Obaseki, who disclosed that the project is part of the Edo State Oil Palm Programme (ESOPP), stated that the development of the high-yielding seeds was necessary to make the business more profitable for farmers as oil palm had a long gestation period.
“We want to collaborate in the area of research to have one of the world’s best planting materials. This is so that we can go back to where we used to be in terms of oil palm production in the world.
“Presco has a laboratory in Europe and they are thinking of expanding the laboratory here to Nigeria so that they can reproduce high-quality planting materials,” the governor said.