BUA Withdraws Interest In Kogi 50,000 Hectares Of Land

BUA Group has announced its withdrawal of interest in the 50,000 hectares of land in Kogi State due to the land’s failure to meet its intended purposes.

This comes after the state Assembly threatened to revoke the company’s Certificate of Occupancy on the land allocated to it for investment purposes in 2012 for failure to pay compensation.

According to the company statement, there has been no visible effort by the state or successive governments to address the issues of access to the land that would allow BUA to use the land for its intended purpose since the state invited BUA to invest in 2012.

It stated that the land was only accessible by water and lacked any supporting infrastructure.

The statement also disclosed that there had been recurring security challenges around the area over the years after the initial indication of interest and granting of the Certificate of Occupancy, noting that the security of its investment as well as staff was paramount.

It noted that the feasibility study conducted on the land revealed that only about 30 per cent of the entire land mass was suitable for investment while the rest consisted of rocky, hilly, and undiluted areas which were not suitable for its intended purpose.

The company however stated that the Kogi Government may revoke the CofO of the land if it so wishes as if BUA had “decided to proceed with the proposed project, BUA would be very happy to pay all dues and necessary compensation to the state and other stakeholders in line with our obligation.

“This is because as a responsible organisation, we believe in the principles of equity, sustainable business practices, and fairness. That has been the hallmark of our operations and engagement with communities and governments everywhere we operate.”

Ada Peter
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