Presco Plc has announced a significant change in its leadership by appointing Adewale Arikawe as Group Chief Executive Officer (CEO) of SIAT Group. The decision, confirmed by the company in a statement signed by its Company Secretary, Frederick Ichekwai, took effect on January 2, 2026.
In this new role, Arikawe will assume responsibility for overseeing all subsidiaries under the SIAT Group umbrella. These include Presco Plc, SIAT Nigeria Limited, and the Ghana Oil Palm Development Company Limited, two major players in West Africa’s agriculture and edible oils sector.
SIAT Group is a key part of Presco’s wider corporate structure. As a fully integrated edible oils and fats company, Presco operates plantations and refining facilities that are central to Nigeria’s palm oil industry and contribute to the broader West African market. Its operations extend beyond Nigeria into Ghana, where the Ghana Oil Palm Development Company helps strengthen the group’s footprint.
In a letter to stakeholders, Presco’s board highlighted the importance of this leadership transition and expressed confidence in Arikawe’s ability to guide the company through the next phase of its growth. The statement said:
“Mr. Adewale Arikawe has been appointed Group Chief Executive Officer of SIAT, with responsibility for overseeing all SIAT subsidiaries, including Presco Plc, SIAT Nigeria Limited, and Ghana Oil Palm Development Company Limited.”
The board went on to add: “He is committed to empowering teams, enhancing leadership capability, and creating an enabling environment for continuous improvement and sustainable results.”
As part of the leadership restructuring, Arikawe was also named a Non‑Executive Director of Presco Plc, filling a casual vacancy on the board until the next Annual General Meeting (AGM). This move followed the retirement of longtime executive Felix Nwabuko, who stepped down after many years of service to Presco and the SIAT Group.
Arikawe brings a deep reservoir of professional experience to his new post, spanning more than 26 years across general management, commercial strategy, sales, customer development, and brand management. Prior to this appointment, he held senior leadership roles at Royal FrieslandCampina, where he oversaw operations across Sub‑Saharan Africa, and FrieslandCampina WAMCO Nigeria. He also served in leadership capacities at Nestlé Nigeria Plc, where he led multi‑channel sales operations and helped shape key growth strategies.
His academic credentials include an MBA in Business Administration and Management from the University of Chichester, and he has completed executive education programmes at both London Business School and IMD in Lausanne, Switzerland, programmes focused on leadership, execution excellence, and driving business impact.
The board’s announcement also took time to acknowledge the contributions of Mr. Nwabuko, underscoring the value of his tenure with Presco and SIAT. In its statement, the board said it was grateful for his years of service and leadership, which helped solidify the company’s regional presence and operational efficiency.
Analysts see this leadership change as part of Presco’s broader strategic plan to strengthen its competitive position in the palm oil market and accelerate growth across multiple fronts. By consolidating its executive leadership under Arikawe—who combines local industry knowledge with global business experience, Presco aims to build on recent successes and further expand its influence in West Africa.
In addition to operational leadership, this transition also comes at a time when Presco is actively boosting its production capacity and regional presence. The company has been pursuing expansion plans that include large plantation acquisitions and efforts to increase its planted area to meet rising domestic and export demand for edible oils.
Presco’s leadership shift carries broader economic significance as the company is a key player in Nigeria’s agro‑industrial sector, contributing to food security, employment, and import substitution. Its expansion supports foreign exchange savings by reducing edible oil imports, previously costing Nigeria hundreds of millions of dollars annually, while strengthening value chains across West Africa.
