The management of BUA Group has reacted to threat by Kogi State House of Assembly to revoke the 50,000 Hectares of land allocated to the company for development in 2012 over non-payment of compensation.
The company in a letter dated, 14th October 2022 and titled; “RE: DEMAND NOTICE FOR GROUND RENT AND DEMAND FOR PAYMENT OF COMPENSATION IN RESPECT OF CERTIFICATE OF OCCUPANCY Nos.KG.11713”, disclosed that since its invitation by the State Government in 2012 to invest in the State through the land, no visible effort by the State Government and its successors to address issues of access to the land.
The company said as an investor, the issues of security of its investment as well as staff is also paramount, hence, it had to think twice given the deteriorating security situation in the area.
However, the company has opted to have the Certificate of Occupancy revoked by the State in view of the fact that not only did lack of infrastructure to provide access to the land a hinderance, there have been recurring security challenges around the area in the years after the initial indication of interest and granting of the C of O.
Moreover, the company stated that the terrain of the land in question, after feasibility was done revealed that it would not be able to serve the purpose for which it intended.
The company also stated that it has a record of being one of the best when it comes to paying of dues and entitlements to States and local indigenes anywhere it operates and this is verifiable in all the states where it has investments.
BUA said; “As a responsible organisation, we believe in the principle of equity sustainable business practices and fairness and this has been the hallmark of our activities and operations everywhere we do business either with communities or governments.”
“The State Government can go ahead and revoke the Certificate of Occupancy.”
See the letter below…
