Edo Government Denies Revoking Presco Plc's Land Titles Amid Controversy

The Edo State Government has denied allegations of revoking Presco Plc (NGX: PRESCO)'s land titles, clarifying that the land in question falls under federal jurisdiction due to its strategic oil assets. The government emphasized that Presco has not been dispossessed of its land and assured investors of upholding due process.

Analysts warn of potential damage to investor confidence and urge a balanced approach between agricultural and mineral resource control. Presco is yet to issue an official response, while stakeholders await the outcome of administrative investigations.