Please note: you are viewing an old version of this deal. The current version can be found here: Deal #4521

Deal #4521 Version #68133

Nigeria
Created at
2014-10-23
Last update
2021-09-07
Last full update
2024-08-30

Land area

Size under contract (leased or purchased area)
  • [2013] 14437.0 ha
  • [2016, current] 16937.0 ha
Size in operation (production)
  • 3600.0 ha
  • [2020] 7247.0 ha
  • [2020, current] 7706.0 ha
Comment on land area
The guardian states 15000ha (company website states new acquisition of 14,437 Ha and another 2,500Ha). RSPO documentation indicates 14,436.823 ha acquired in 2013. Additional land acquired in 2016.

Intention of investment

Intention of investment
  • [2016, current] Non-food agricultural commodities, Agriculture unspecified (16937.0 ha)

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [2013, current] Concluded (Contract signed)
  • [2016] Concluded (Contract signed)
Comment on negotiation status
First portion of land acquired in 2013. More land acquired in 2016. Presco Plc Sakponba Estate has being in the process to obtain EIA approval but due to government bureaucracy the approval process is yet to be obtained.

Implementation status

Implementation status
  • [2017] Startup phase (no production)
  • [2018, current] In operation (production)
Comment on implementation status
From RSPO documentation: "At the time of field verification, clearing and preparation for planting had not commenced (concession area still not opened by company). It was further verified by satellite imagery on June 14, 2017 (google earth tools) that no activities has been conducted by the company. Then, current condition to ensure there is no activity conducted on August 24, 2017 by imagery satellite".

Contract farming

Contract farming
No