Palm Oil

Akwa Ibom’s intervention is expected to narrow this supply gap while stimulating rural employment and economic growth in the Niger Delta region.

To address this, Unilever partnered with KIS Group to source biomethane from nearby mills participating in its sustainable palm oil programme.

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.

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.