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

Deal #3100 Version #87171

Nigeria

Created at

2013-02-22

Last update

2022-06-21

Last full update

2024-02-27

Land area

Intended size

33 096 ha

Size under contract (leased or purchased area)

[1986] 15580 ha
[2001, current] 21696 ha

Size in operation (production)

[2010] 15629 ha
[2013] 17290 ha
[2014] 18373 ha
[2019, current] 16900 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

[current] Non-food agricultural commodities, Agriculture unspecified

Comment on intention of investment

Oil palm and rubber

Nature of the deal

Lease

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

[1976, current] In operation (production)

Comment on implementation status

In February 2022, The Okomu Oil Palm Company was suspended its operations in the aftermath of an incident described by management as a “terrorist attack”.This was after a worker in the company is said to have been killed by gunmen who invaded the company.Ther operations was said to shut down to save lives from possible reprisal

Leasing fees

Annual leasing fee

10 000

₦

per ha

Contract farming

Comment on contract farming

OKOMU OPC contemplates establishing a smallholders’ programme.