Nigeria

These acquisitions are expected to increase Presco’s total plantation size by 37%, expanding its footprint from approximately 43,547 hectares to 59,760 hectares.

This growth was driven entirely by sales of crude and refined palm oil products.

Nulla Group works with a vast network of smallholder farmers, providing them with access to fair markets.

Rasheed Sarumi’s US$46-million gain from Presco’s acquisition of Saro Oil Palm underscores the deepening connection between Nigeria’s corporate elite and the country’s agricultural trajectory, while reigniting debate over governance standards, inclusive growth, and fair wealth distribution within the sector.

A 50 kg bag of local rice currently sells between US$43 and US$53, up from US$30 to US$36 just two months ago.