Orhionmwon Youth Congress Protest Sale Of Presco PLC To Afrinvest
By Osehobo Ofure, Benin
Youths, community leaders, and stakeholders of Presco PLC, in Orhionwon Local government area in Edo State have protested the sale of the multinational palm oil company to Afrinvest Capital Limited before the National Assembly.
They say that Afrinvest Capital Limited, a firm linked to former Edo State Governor Godwin Obaseki, is attempting a total takeover of Presco PLC.
The petition, signed by R. O. Okpiavbe, Esq. of Okpiavbe and Co. Chambers, on behalf of the Orhionwon Youths Congress alleges that the sale—valued at ₦100 billion—is both arbitrary and fraudulent.
Hon. Chief Dr. Billy Adesuwa Osawaru, representing Orhionmwon/Uhunmwode Federal Constituency in the House of Representatives, Abuja is charged with submitting the petition to the National Assembly, Abuja.
Sources say Hon. Osawaru has formally presented the petition on the floor of the House, seeking legislative intervention to halt the transaction.
The petitioners say that the sale if approved could have severe economic implications for the host communities and local investors.
Meanwhile indications are that the petition has also been reportedly referred to the appropriate committee for further scrutiny.
