Tuesday, November 29, 2022
Home Business BUA to Kogi: We are no longer interested in 50,000 hectares of...

BUA to Kogi: We are no longer interested in 50,000 hectares of land

BUA has withdrawn its interest in the 50,000 hectares of land in Kogi State over the failure of the land to meet its intended purposes.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 Assembly threatened to revoke the Certificate of Occupancy on the land allocated to the company for investment purposes in 2012 for non-payment of compensation.

A statement by the company made available to newsmen disclosed that since the Kogi state invited BUA to invest in 2012, there has been no visible effort by the state and successive governments to address the issues of access to the land that will enable BUA to utilize the land for its intended purpose. 
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% 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 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 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.”

RELATED ARTICLES

NNPC-NIPCO consortium, Lekki Free Zone sign gas supply deal

The deal which was sealed in Lagos last week will see over 100 companies already established in the zone link up to the project which is expected to be completed in six months.

IMO scribe, Kitack Lim, arrives Nigeria for Maritime summit 

During his visit, the Secretary General will attend the Nigeria International Maritime Summit 2022 where regional policies and operational perspectives to Decarbonization and Green House Gas Emissions in shipping will be the focus.

Nigeria’s power generation to rise by 2000MW in 2024- Seplat

The energy company maintains that its ANOH and upgraded Sapele gas projects could fuel another 2000 megawatts of electricity by 2024, thus displacing the wide use of diesel/petrol generators for electricity as well as the use of biomass as cooking fuel.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

TCN adds 98MW to grid; energizes 2x60mva 132/33kv Gwarinpa Sub-station

According to a statement, the 132kV transmission sub-station is one of the five sub-station projects comprising the Abuja Ring Projects, funded by Agence Francais de Developpment (AFD).

NDPHC wins Power project of the year award

The Power Sector Awards is an initiative designed to recognize, celebrate and promote public and private sector organizations and individuals in the Nigerian Electricity Supply Industry (NESI).  

TCN delivers 22 Power Transformers, other Transmission Equipment to Lagos store

The equipment described as the highest of such in the company’s history, comprise of 22 power transformers, haulage trucks, transmission switchyard spare parts, 45No. earthing transformers, Suspension Clamps, Vibration Dampers, Armor Rods, Circuit Breakers, Current transformer, Voltage transformers, 100tons Crane truck heads

Baobab+ celebrates two years in Nigeria distributing Solar Home Systems

Speaking on the anniversary, the Chief Executive Officer, Baobab+, Kolawole Osinowo, the company has equipped thousands of households and served several beneficiaries with its off-grid energy solutions in the past 2 years.

Recent Comments