Edo Government Denies Revoking Presco's Land in Public Interest

The Edo State government has denied reports alleging the revocation of Presco Plc (NGX: PRESCO)'s 13,545 hectares of land, emphasizing that the action was taken in the public interest under legal provisions. The government clarified that the revocation notice pertains to two oil wells on the land and not the entire property.

The affected property is identified as Plot No. 38445 in Ologbo, Benin City. Presco Plc is a major player in the palm oil industry in Nigeria.