The Inside Story: Nigeria’s Palm Oil Duopoly Posts Record Quarter as a Belgian Empire Quietly Becomes Nigerian
Presco's profit jumped 57.4% to N178 billion and Okomu Oil grew Q1 to N34 billion, lifting the combined market cap of Nigeria's protected palm oil duopoly past $2.7 billion — and one of the two has just become Nigerian-controlled after 33 years of Belgian rule.