Please note: you are viewing an old version of this deal. The current version can be found here: Deal #4775

Deal #4775 Version #69384

Nigeria
Created at
2015-09-16
Last update
2020-06-24
Last full update
2024-02-27

Land area

Size under contract (leased or purchased area)
  • [2014, current] 20000.0 ha

Intention of investment

Intention of investment
  • [2014, current] Biomass for biofuels (20000.0 ha)

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [2014, current] Concluded (Contract signed)
Comment on negotiation status
Total investment of around $150 million for the plantation.

Implementation status

Comment on implementation status
The MOU signed gives a time limit for the investors to develop a substantial part of the land or the investor faces forfeiture on any undeveloped part of the land.

Leasing fees

Annual leasing fee
2 000
₦
per ha
Comment on leasing fee
The state government will collect it and pay part of it to the communities or provide infrastructures for the communities. Data from official source.

Contract farming

Contract farming
Yes
Not on leased / purchased (out-grower)
Yes
Comment on contract farming
The company will guarantee a market for the produce. They will also assist the outgrowers in terms of provision of quality seedlings.