Table of Contents
- Revocation of Certificate of Occupancy
- Governor's Statement
- Support for Investors
- Agricultural Investment in Edo State
- Comments from Presco Chairman
Six days following the contentious revocation of the Certificate of Occupancy for approximately 13,545 hectares of land belonging to Presco Plc by the Edo State Government, Governor Monday Okpebholo stated that as an investor himself, he cannot be the one driving investors away from the state.
DAILY POST recalls that the State Government announced the revocation of the land on November 22, 2025, through an advert in a national daily.
The revocation order, which sparked controversy, was reportedly issued for overriding public interest, as well as concerning two oil wells located on the property.
The Governor made his remarks during a courtesy visit to the Government House on Monday in Benin City, where he received the chairman and managing director of Presco Plc, Mr. Rasheed Sarumi and Mr. Raji George.
“I am an investor myself. I cannot be the one driving investors away. That notion is entirely incorrect. You are here by the grace of God, and you will thrive here,” he said.
“Presco has been a significant player in this region for many years. Recently, there was a misunderstanding that I believe someone attempted to politicize. There was nothing substantial to it. The review of certain areas was motivated by reasons related to natural resources,” he added.
“If I have any issues with you, I will reach out directly. The last time I received complaints from communities regarding compensation, I contacted your MD immediately because I believe in addressing matters head-on,” he stated.
Governor Okpebholo condemned narratives that depict Edo as unfriendly to investors, labeling such claims as “misleading and malicious.”
He emphasized that whenever issues arise, his administration prefers dialogue over speculation or misinformation.
He assured the company's management team of his government’s support, asserting that the state continues to be a prime destination for agricultural investment.
The Governor, acknowledging that Presco has been a long-standing partner in the agricultural development of Edo State, dismissed recent controversies surrounding the land revocation.
He reaffirmed his administration’s commitment to agricultural expansion, noting that upon taking office, the government increased the agricultural allocation in the inherited budget from ₦5 billion to ₦70 billion.
This increase signifies his administration’s resolve to promote food security and agro-industrial growth.
“An agricultural revolution is the way forward, aligning perfectly with President Tinubu’s Renewed Hope Agenda. For food security, we must cultivate what we consume and export what we produce. Edo has fertile land, and your investment here is worthwhile,” he stated.
Earlier, Presco Chairman Mr. Rasheed Sarumi praised the Governor for establishing a stable governance structure, enhancing security, and creating an enabling environment that led to SIAT’s $100 million investment decision.
Sarumi noted that Nigeria received only $250 million in Foreign Direct Investment (FDI) this year, 2025, making Presco’s contribution a significant boost to the national economy.
He expressed confidence that the new investment would bolster Presco’s expansion plans and solidify Edo State’s status as the hub of Nigeria’s agro-industrial revolution.
What was the reason for the revocation of the Certificate of Occupancy?
The revocation was allegedly done for overriding public interest and involved two oil wells located on the land.
How does the Governor view the investment climate in Edo State?
The Governor believes that Edo State remains a prime destination for agricultural investment and aims to support investors.
Eze Chidiebere Paul
I'm dedicated to creating high-quality content that informs, inspires, and delights. If you have any questions or suggestions, don't hesitate to get in touch. Happy reading!
