Okpebholo Welcomes $100m FDI, Says Edo Remains Safe Haven For Investors

Edo State Governor Monday Okpebholo has pledged the government’s full support for Presco PLC following the announcement of a fresh $100m Foreign Direct Investment (FDI) into the company’s operations by SIAT and its parent firm.

The governor gave the assurance on Monday when he received Presco’s management team, led by Chairman Rasheed Sarumi and Managing Director Raji George, on a courtesy visit to Government House, Benin City.

Sarumi described the funding as “historic and the first of its kind in Nigeria’s agricultural sector.”

Addressing the delegation, Okpebholo said Presco had played a long-standing role in Edo’s agricultural development. He also dismissed recent controversies surrounding land revocation.

“Presco to me has been here for a very long time. Just a few days ago, there was a misunderstanding, which I believe someone tried to politicise. There was nothing in it.

“If I have anything against you, I will call you. I believe in addressing issues directly,” he said.

The governor explained that upon assuming office, he reviewed and increased the agriculture allocation in the inherited budget from N5bn to N70bn, adding that the move aligned with the state’s commitment to food security and agro-industrial growth.

“Agricultural revolution is the best way to go, and it aligns perfectly with President Tinubu’s Renewed Hope Agenda. Edo has fertile land, and your investment here is not a waste,” he said.

Okpebholo also rejected claims that Edo is unfriendly to investors, describing such narratives as “misleading and satanic”.

“I am an investor myself. I cannot be the one sending investors away. You are here by the grace of God, and you will prosper here,” he noted.

Speaking earlier, Sarumi applauded the administration for improved security, stability, and an enabling environment that encouraged SIAT’s investment decision. He noted that Nigeria received only $250m in FDI this year, making Presco’s share a major contribution to the national economy.