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Tag: Palm Oil

Agribusiness

Presco gets $100m FDI to boost Edo palm oil production

Edo State will receive a $100 million foreign direct investment as Belgian agro-industrial group SIAT NV injects fresh capital into Nigerian palm oil producer Presco Plc, part of a longer-term $1 billion commitment to expand operations in the country over the next decade. The funds, which constitute the first tranche of the wider investment program, […]

Agribusiness

Ellah Lakes to expand palm oil operations with ARPN acquisition

Ellah Lakes Plc has entered into an agreement to acquire the shareholding of Agro-Allied Resources & Processing Nigeria Limited from ARPN PTE Limited, Singapore, aligning with its goal to deepen its operational footprint, scale efficiencies, and drive national food security impact. The transaction encompasses the acquisition of 100 per cent of ARPN’s shareholding and is […]

Business

Palm oil prices soars as US sets record biofuel target

Palm oil prices climbed past 4,000 ringgit, tracking gains in soyoil after the United States proposed a record 24.02 billion-gallon biofuel blending mandate for 2026—nearly eight per cent above 2025 levels. The U.S. Environmental Protection Agency on Friday unveiled a long-anticipated plan to increase domestic biofuel production and reduce reliance on imports, according to Bloomberg. […]

Investment

Anambra targets N160bn revenue from oil investment

The Anambra State Government has begun importing one million palm oil seedlings and one million coconuts from Malaysia, in order to make N160 billion annual revenue.   The News Agency of Nigeria reported that the Deputy Governor, Onyekachi Ibezim, disclosed this while inaugurating the 2023 farming season at Alex Ekwueme Square Awka.   Ibezim, who […]

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