The success of Presco and Okomu, two privatised companies in Nigeria’s palm oil industry, offers a compelling case for Imo and Cross River states to embrace privatisation.
Adapalm Plantation, owned by the Imo state government, is the oldest and largest palm oil estate in the country and was once hailed as the country’s most promising agro-industrial venture. It sprawls about 6,000 hectares of palm plantations.
However, years of mismanagement and corruption have caused the oil palm estate’s output to decline from a peak of 16,000 tons year
