Presco Plc has reassured shareholders and the broader investment community that its Certificate of Occupancy (C of O) for the Ologbo Estate remains valid following an official clarification issued by the Edo State Government on Thursday, November 27, 2025.
The clarification comes after a publication in the Vanguard newspaper on November 26, 2025, which alleged that the State Government had revoked Presco’s land title.
Presco noted that it immediately engaged relevant authorities and can now confirm that the publication was unauthorized, inaccurate, and did not originate from the Governor or any authorised arm of the state government.
According to Presco’s Company Secretary, Frederick Ichekwai, the Edo State Government has published a formal disclaimer stating that Presco’s Statutory Right of Occupancy remains fully intact and has not been revoked. The state also directed the public to disregard the earlier report.
The Government clarified that the only matter previously under technical consideration involved a possible excision of approximately 20 hectares located in an area containing crude oil wells.
This review was aligned with federal mineral resource laws and had not progressed to any approval or action affecting Presco’s existing land.
Additionally, the State Government has initiated an administrative review into the actions of the former leadership of EDOGIS, the state land administration agency, which was linked to the unauthorized publication.
Presco expressed appreciation to the Edo State Government for its swift response, transparency, and reaffirmed commitment to accountable land administration and investor protection.
The Company assured stakeholders that its land rights remain secure and all operations across Ologbo Estate continue uninterrupted.
Presco Plc remains one of Nigeria’s leading integrated agro-industrial players, and clarity around its land assets is expected to support continued investor confidence amid ongoing expansion initiatives.