Presco’s majority owner, SIAT, names new Group CEO

SIAT NV, the Belgian agro-industrial group that owns a controlling 60% stake in Presco Plc, has appointed Adewale Arikawe as its new Group Chief Executive Officer, a move that will shape strategy and execution at Nigeria’s leading palm oil producer.

Arikawe’s appointment, effective Jan. 2, places him in charge of all SIAT subsidiaries, including Presco Plc, SIAT Nigeria Limited and Ghana Oil Palm Development Company. As part of the leadership transition, he has also been appointed a non-executive director on Presco’s board.

The change marks a significant leadership shift at Presco, where SIAT exerts operational control, and comes as Nigeria’s palm oil sector faces rising costs, foreign exchange pressures and renewed government focus on import substitution and local production.

Arikawe succeeds Felix Nwabuko, who is retiring from Presco’s board after years of steering the company’s growth under SIAT’s ownership. The board said Nwabuko played a key role in strengthening Presco’s plantation and processing operations during his tenure.

Presco said the new CEO will work with existing management teams to sharpen execution, accelerate growth and embed a performance-driven culture across its African operations.

CEO Profile

Arikawe brings more than 26 years of senior management experience across consumer goods and agribusiness-adjacent sectors. He previously held leadership roles at Royal FrieslandCampina, overseeing operations across sub-Saharan Africa, and at FrieslandCampina WAMCO Nigeria. Earlier, he served in senior positions at Nestlé Nigeria, where he led multi-channel sales operations and supported strategic growth initiatives.

He holds an MBA from the University of Chichester and has completed executive education programmes at London Business School and IMD in Switzerland.

Beyond Presco, SIAT has a significant agribusiness footprint across Africa and Asia, with oil palm and rubber plantations and processing assets in Nigeria, Ghana, Ivory Coast, Gabon and Cambodia. In Nigeria alone, the group operates more than 15,000 hectares of oil palm plantations and runs palm oil milling and kernel crushing facilities.

With Arikawe at the helm, SIAT appears to be positioning Presco and its wider portfolio for tighter operational control and scale, as agribusiness takes on greater importance in Nigeria’s food security and industrial strategy.