The Rivers State Government has reaffirmed its commitment to providing adequate, affordable and sustainable housing for residents of the state, in line with global standards and the United Nations Sustainable Development Goals.

The state government gave the assurance on Monday, October 5, 2026, during the World Habitat Day celebration organised by the Ministry of Physical Planning and Urban Development at the Justice Mary Odili Judicial Institute Auditorium, Port Harcourt.

World Habitat Day, observed annually on the first Monday of October, provides an opportunity for governments, professionals and other stakeholders to reflect on the state of human settlements and the fundamental need for adequate shelter. The day also highlights the collective responsibility of stakeholders to promote sustainable towns and cities.

Speaking at the event, the Commissioner for Physical Planning and Urban Development, Amaopusenibo Sir Amairigha Edward Hart, represented by the Permanent Secretary of the Ministry, Town Planner Mrs. Soibitein Duke-Harry, described the 2026 theme as timely, particularly against the backdrop of the growing demand for decent and accessible housing.

Duke-Harry highlighted the housing initiatives of the Governor of Rivers State, Amaopusenibo Sir Siminialayi Fubara, GSSRS, including the 20,000 RIV/TAF City Housing Units designed to cater to medium- and low-income earners, as well as the Civil Servants’ Quarters and Permanent Secretaries’ Quarters.

She described the projects as people-oriented interventions, noting that beyond providing decent accommodation, they were expected to create employment opportunities and stimulate economic activities. She therefore urged professional bodies and residents to support efforts aimed at promoting urban renewal and sustainable development.

Also speaking, the Head of the Rivers State Civil Service, Dr. Inyingi Brown, represented by the Permanent Secretary, Service Welfare, Office of the Head of Service, Mr. Chimenem Mpi, commended the Ministry for sustaining the global conversation on sustainable human settlements.

Brown also acknowledged the administration’s housing initiatives for civil servants, describing the dedicated housing scheme as part of efforts to address the welfare needs of workers in the state.
Goodwill messages were delivered by Professor Sodienye Abere, Director, Centre for Climate Change and Sustainable Development Studies, Rivers State University; representatives of the Nigerian Society of Engineers (NSE); the Nigerian Institute of Town Planners (NITP); and Dr. Ibimina Wokoma, Managing Director of the Rivers State Waste Management Agency (RIWAMA).

In a related development, the Ministry aligned with the 2026 Annual Flooding Sensitisation Advisory issued through the Nigerian National Volunteer Service (NNVS), urging residents to avoid construction on natural waterways, riverbanks and flood-prone areas.

Residents were also advised to desist from blocking drainage channels or dumping refuse in gutters, ensure the free flow of rainwater and promptly report signs of flooding.

Delivering the keynote lecture on the theme, “Adequate Housing for All,” a veteran Town Planner, Rev. Dr. Mina Aprioku, said the lecture was aimed at examining the concept of housing adequacy within the context of contemporary urban governance.

Aprioku identified rapid urbanisation, affordability challenges and increasing population pressure as major factors contributing to the housing deficit, noting that cities across Nigeria, including Port Harcourt, were experiencing growing pressure on available housing infrastructure.

He called for increased housing development backed by appropriate policies and effective collaboration among government and professionals in the built environment. He also urged residents to comply with physical planning regulations and play active roles in the development of their communities.

Akujobi Amadi

PRESCO.LG | NGX: PRESCO), Nigeria’s leading fully integrated agro-industrial company, today held its 33rd Annual General Meeting (AGM), where shareholders adopted the Company’s audited financial statements for the year ended 31 December 2025 and approved key business and governance resolutions. The AGM also highlighted Presco’s record 2025 performance, its expanded regional platform and priorities for 2026.

Presco delivered record financial performance in 2025. Revenue rose 59.3% to ?330.6 billion, Profit Before Tax (PBT) increased 57.1% to ?177.9 billion and Profit After Tax (PAT) rose 56.1% to ?121.4 billion. EBITDA grew 43.7% to ?211.8 billion, while total assets increased 94.9% to ?926.0 billion. A landmark ?236.7 billion rights issue more than doubled total equity to ?442.7 billion, materially strengthening the balance sheet and supporting the Company’s growth plans.

Shareholders approved a final dividend of ?14.66 per 50 kobo ordinary share, taking the total dividend for FY2025 to ?44.66 per share. The payout reflects Presco’s disciplined approach to balancing reinvestment for growth with consistent cash returns to shareholders.

Commenting on the Company’s performance, Mr. Olakanmi Rasheed Sarumi, Chairman, Presco Plc, said:
“I commend our management teams across the region for their exceptional execution during a transformational year, and I thank my colleagues on the Board for their diligent oversight.
The record performance delivered in 2025 reflects the strategic choices we have made and the stronger regional platform we are building.

As we integrate our operations across Nigeria and Ghana, our focus remains clear: build scale, improve efficiency and create sustainable long-term value for our shareholders and stakeholders.”

The record performance was matched by significant strategic progress. Presco completed the acquisition of the remaining 48% shareholding in Ghana Oil Palm Development Company Limited (GOPDC), taking its ownership to 100%, and acquired Saro Oil Palm Limited (SOP), including the Nsadop and Boki estates in Cross River State.

Together, these transactions expanded the Company’s plantation base and production pipeline, deepened its regional presence and positioned Presco for medium- to long-term volume growth. The successful rights issue further strengthened funding capacity for integration and expansion.

Commenting on the Company’s outlook, Mr. Reji George, Managing Director and Chief Executive Officer, Presco Plc, said: “We enter Presco’s next phase of growth with greater scale, stronger operating capabilities and a more integrated regional platform. Our priority is to convert that scale into measurable efficiencies and stronger performance, while building the people, systems and capabilities required to sustain growth across West Africa.”

The AGM also recorded key governance outcomes. Shareholders ratified the appointments of Mr. Ademola Adebise, Mr. Adewale Arikawe and Mr. Francois VanHoydonck as Directors of the Company, while Mr. Olakanmi Rasheed Sarumi, Mr. Abdul Akhor Bello and Ms. Osayi Alile were re-elected as Directors retiring by rotation.

The Chairman paid tribute to Mr. Felix Nwabuko FCA, a former Managing Director and Chief Executive Officer of Presco and former Group Chief Executive Officer of SIAT, who retired from the Board with effect from 2 January 2026, and expressed the Board’s appreciation for his distinguished service and enduring contribution to the Company.

Looking ahead, Presco is focused on translating its expanded scale into stronger operational performance and sustainable value creation. Immediate priorities include completing operational harmonisation across its businesses, capturing synergies across procurement, production and logistics, optimising the integrated cost base and pursuing disciplined growth opportunities aligned with the Company’s long-term strategy.

With a stronger balance sheet, an increasingly integrated operating model and a growing regional platform, Presco is well positioned to strengthen its competitive position across the West African edible oils value chain and deliver sustainable long-term value for shareholders and other stakeholders.