BUA Replies Kogi State, Gives Reasons For Lack Of Interest In The Land

BUA Replies Kogi State, Gives Reasons For Lack Of INTEREST IN The LAND

 

 

 

 

 

 

Leading conglomerate BUA Group officially responded  Kogi State Assembly over the threat to revoke 50,000 Hectares of land allocated to the company for development in 2012 over non-payment of compensation.

 

 

 

 

 

 

 

The information available to saharaWeeklyng revealed that BUA has opted to have the Certificate of Occupancy revoked by the State. This is not unconnected to the fact that the reputable organization has never utilized the land due to a lack of infrastructure, significant security challenges, and the outcome of feasibility studies.

 

 

 

 

 

 

 

 

 

In the statement issued by the BUA Group, they disclosed that ‘since their 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. As an investor, BUA also claimed that issues of security of its investment and staff are also paramount hence the company had to think twice given the deteriorating security situation in the area.

 

 

 

 

 

 

According to BUA, ‘ we conducted feasibility on the land and found out that only about 30% of the entire land mass is suitable for investment, with the rest consisting of rocks, hilly and undulating areas which are not ideal for its intended purpose.

 

 

 

 

 

 

 

 

 

 

The company further revealed that it has a record of being one of the best when it comes to paying dues and entitlements to States and local indigenes anywhere it operates and this is verifiable in all the states where it has investments.  The BUA group also said, ‘As a responsible organization, we believe in the principle of equity sustainable business practices and fairness’ and this has been the hallmark of their activities and operations everywhere they do business either with communities or governments.

Regretting that the land cannot be used for its intended purposes, the company, therefore, says the State Government can go ahead and revoke the Certificate of Occupancy.