Deal #4775

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

Land area

Intended size
20 000 ha

Intention of investment

Intention of investment
  • [current] Biomass for biofuels (20000 ha)
Comment on intention of investment
Obax Worldwide Limited requested for 20,000 hectres of land for the cultivation of cassava which is to be processed into ethanol

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [2014] Intended (Memorandum of understanding)
  • [2020, current] Failed (Negotiations failed)
Comment on negotiation status
Obax and Sunbird don't mention this project on their websites anymore in 2020.

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.