Presco Plc, Nigeria’s fully integrated edible oils and fats company, has announced a major leadership transition, confirming the appointment of Mr. Adewale Arikawe as Group Chief Executive Officer of SIAT.
This is contained in a statement signed by Company Secretary, Frederick Ichekwai, dated January 12, 2026.
Following his appointment, Arikawe is now responsible for overseeing all SIAT subsidiaries, including Presco Plc, SIAT Nigeria Limited, and Ghana Oil Palm Development Company Limited.
What the statement is saying
The appointment, effective 2nd January 2026, positions Mr. Arikawe at the helm of SIAT’s operations across West Africa, where he will work closely with existing leadership teams to strengthen execution, accelerate strategic growth, and foster a high-performance culture.
“Mr. Adewale Arikawe has been appointed Group Chief Executive Officer of SIAT, with responsibility for overseeing all SIAT subsidiaries, including Presco Plc, SIAT Nigeria Limited, and Ghana Oil Palm Development Company Limited,” the company says.
The statement added that “He is committed to empowering teams, enhancing leadership capability, and creating an enabling environment for continuous improvement and sustainable results.”
Board restructuring
In addition to his Group CEO role, Mr. Arikawe has been appointed Non-Executive Director of Presco Plc, filling a casual vacancy on the Board until the next Annual General Meeting.
He succeeds Mr. Felix Nwabuko, who is retiring after many years of exceptional leadership and significant contributions across SIAT NV and its subsidiaries.
The Board expressed deep gratitude for his service, stating:
“The Board expresses its sincere appreciation to Mr. Nwabuko for his dedication and outstanding service in driving the growth and success of the Company over the years.”
Profile of Adewale Arikawe
Mr. Arikawe brings over 26 years of leadership experience spanning general management, commercial strategy, sales, customer development, and brand management.
- He previously held senior leadership roles at Royal FrieslandCampina, overseeing operations across Sub-Saharan Africa, and at FrieslandCampina WAMCO Nigeria.
- His career also includes senior positions at Nestlé Nigeria Plc, where he managed multi-channel sales operations and contributed to strategic growth initiatives.
Academically, he holds an MBA in Business Administration and Management from the University of Chichester. He has also completed executive education programmes at London Business School and IMD Lausanne, Switzerland, focusing on leadership, execution excellence, and business impact.
Board statement
The Presco Plc Board warmly welcomed Mr. Arikawe, expressing confidence in his ability to drive growth and innovation across the SIAT Group.
“The Board warmly welcomes Mr. Adewale Arikawe and looks forward to his valuable contributions to the Company and the wider SIAT Group. The Board also reiterates its deep appreciation to Mr. Felix Nwabuko for his exemplary service and enduring legacy.”
What you should know
Earlier this month, Presco Plc announced the successful completion of its recently concluded Rights Issue, which recorded 103% subscription level, reflecting strong shareholder participation and confidence in the Company’s strategic direction and long-term growth outlook.
The Rights Issue attracted demand in excess of the offer size, underscoring sustained investor appetite for Presco Plc’s equity and a clear willingness by shareholders to increase their investment in the business.
