BUA to Kogi: You can take back your land, we’re no longer interested

The BUA Group has withdrawn its interest in the 50,000 hectares of land in Kogi State over the failure of the land to meet its intended purposes.

This comes after the Kogi State House of Assembly threatened to revoke the Certificate of Occupancy on the land.

The land was allocated to the company for investment purposes in 2012.

But it was pronounced revoked for non-payment of compensation.

A statement by the company made available to newsmen on Tuesday disclosed that since Kogi State invited BUA to invest in 2012, there has been no visible effort by the state government then and successive ones to address the issues of access to the land that will enable the company to utilise the land for its intended purpose.

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It said the land is only accessible by water without any enabling infrastructure.

The statement also disclosed that there have 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 is paramount.

Furthermore, the statement 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 are not suitable for its intended purpose.

The company however stated that the Kogi State Government may revoke the C of O of the land if it so wishes, adding that 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 organization, 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.”

Eagle