Presco Plc and Okomu Oil Palm Plc, listed Nigerian palm oil manufacturers, are beginning to feel the pressure from falling domestic prices as cheaper imports squeeze margins.
The companies, which rely heavily on local agricultural production, struggled to pass on increased costs to customers, leading to a dip in profitability.
Half-year financial statements reviewed by BusinessDay show that the country’s two largest listed oil palm companies delivered a combined revenue of N323.9 billion and profit after tax of N121.9 billion in the first six months of 2026. However, beneath those headline numbers lies an emerging slowdown that mirrors the growing strains across Nigeria’s palm oil industry.
Presco reported revenue of N198.7 billion in H1 2026, unchanged from the same period last year, while profit after tax declined 7.3 percent to N82.2 billion from N88.7 billion.
Okomu’s performance weakened further. Revenue fell 3.5 percent to N125.2 billion from N129.8 billion, while
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