Please note: you are viewing an old version of this deal. The current version can be found here: Deal #3100

Deal #3100 Version #58675

Nigeria
Created at
2013-02-22
Last update
2020-05-22
Last full update
2024-02-27

Land area

Intended size
33 096 ha
Size under contract (leased or purchased area)
  • [1986] 15580.0 ha
  • [2001, current] 21696.0 ha
Size in operation (production)
  • [2010] 15629.0 ha
  • [2013] 17290.0 ha
  • [2014] 18373.0 ha
  • [2019, current] 16900.0 ha
Comment on land area
First contract signed in 1986, extension 1 signed in 2001. The total land holding of the company is around 33,000 including Extension 2 (deal 4555). In 2019 the company had planted a total of 19,060ha oil palm and 7,335ha rubber, which includes 9,500ha oil palm in Ext. 2. 9718 ha planted with palm oil and 7572 ha planted with rubber in 2013. 10 387ha of palm oil and 7986ha of rubber planted in 2014. (This might include Extension 2). Another data source states 30 000ha size under contract.

Intention of investment

Intention of investment
  • [current] Non-food agricultural commodities, Agriculture unspecified
Comment on intention of investment
Oil palm and rubber

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [1990, current] Concluded (Contract signed)
Comment on negotiation status
Privatisation of the Okomu Oil Palm Company. Another data source states the company acquired the lease in 1991.

Implementation status

Implementation status
  • [1976, current] In operation (production)

Leasing fees

Annual leasing fee
10 000
₦
per ha

Contract farming

Contract farming
No
Comment on contract farming
OKOMU OPC contemplates establishing a smallholders’ programme.