Business/Economy
Edo govt disowns fake land revocation notice targeting PRESCO PLC amid investor jitters
Written By: Udo Inobeme
27 Nov 2025 11:36 AM
Benin, Edo – The Edo State Government has firmly denied issuing any notice revoking the Statutory Right of Occupancy (C-of-O) granted to Presco Plc, an indigenous agro-industrial giant specialising in oil palm cultivation and palm oil processing.
A widely circulated report had claimed that Governor Monday Okpebholo personally revoked Presco’s title over approximately 13,545 hectares of land in Ologbo, Ikpoba-Okha Local Government Area, citing “overriding public interest” and quoting a formal notice purportedly signed by the governor under the Land Use Act.
In a strongly worded disclaimer issued Wednesday evening, the Secretary to the State Government (SSG), Umar Musa Ikhilor, described the publication as completely false and unauthorised.
“The Edo State Government wishes to categorically state that the said publication did not emanate from the Executive Governor of Edo State, His Excellency, Senator Monday Okpebholo, nor from any authorised organ of the state government,” the SSG said.
Mr Ikhilor revealed that an internal verification exercise established that the immediate past Managing Director of the Edo State Geographic Information Service (EDOGIS) acted alone, without any approval from the governor or any competent authority, and in blatant disregard of due process.
“The government has verified that the immediate past managing director of EDOGIS acted unilaterally, without authorisation, and in complete disregard for established procedures and the actual number of hectares intended for excision from PRESCO PLC’s total landholding,” the statement read.
The SSG clarified that what was actually under consideration was the excision of only about 20 hectares — not 13,545 hectares — to accommodate strategic crude oil wells located within Presco’s larger landholding.
“This excision became necessary because no individual or company can lawfully exercise proprietary rights over land where mineral resources are located, as such resources are vested exclusively in the federal government,” he explained.
He stressed that Presco Plc’s overall Statutory Right of Occupancy remains intact and has never been revoked by the present administration.
A formal administrative inquiry has been launched into the “unauthorised actions” of the former EDOGIS chief, with a view to strengthening internal controls and preventing future occurrences.
The government urged members of the public, investors, and stakeholders to disregard the fake revocation notice in its entirety and assured that all land administration matters in the state will continue to follow strict due process.
Presco Plc, listed on the Nigerian Exchange (NGX) and majority-owned by Belgian agro-group SIAT, operates several oil palm plantations, mills, and a palm kernel crushing plant in Edo and Delta states.
A widely circulated report had claimed that Governor Monday Okpebholo personally revoked Presco’s title over approximately 13,545 hectares of land in Ologbo, Ikpoba-Okha Local Government Area, citing “overriding public interest” and quoting a formal notice purportedly signed by the governor under the Land Use Act.
In a strongly worded disclaimer issued Wednesday evening, the Secretary to the State Government (SSG), Umar Musa Ikhilor, described the publication as completely false and unauthorised.
“The Edo State Government wishes to categorically state that the said publication did not emanate from the Executive Governor of Edo State, His Excellency, Senator Monday Okpebholo, nor from any authorised organ of the state government,” the SSG said.
Mr Ikhilor revealed that an internal verification exercise established that the immediate past Managing Director of the Edo State Geographic Information Service (EDOGIS) acted alone, without any approval from the governor or any competent authority, and in blatant disregard of due process.
“The government has verified that the immediate past managing director of EDOGIS acted unilaterally, without authorisation, and in complete disregard for established procedures and the actual number of hectares intended for excision from PRESCO PLC’s total landholding,” the statement read.
The SSG clarified that what was actually under consideration was the excision of only about 20 hectares — not 13,545 hectares — to accommodate strategic crude oil wells located within Presco’s larger landholding.
“This excision became necessary because no individual or company can lawfully exercise proprietary rights over land where mineral resources are located, as such resources are vested exclusively in the federal government,” he explained.
He stressed that Presco Plc’s overall Statutory Right of Occupancy remains intact and has never been revoked by the present administration.
A formal administrative inquiry has been launched into the “unauthorised actions” of the former EDOGIS chief, with a view to strengthening internal controls and preventing future occurrences.
The government urged members of the public, investors, and stakeholders to disregard the fake revocation notice in its entirety and assured that all land administration matters in the state will continue to follow strict due process.
Presco Plc, listed on the Nigerian Exchange (NGX) and majority-owned by Belgian agro-group SIAT, operates several oil palm plantations, mills, and a palm kernel crushing plant in Edo and Delta states.
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