BUA not interested in Kogi land, says management

The management of BUA International Limited has disclosed that it is not interested in any land in Kogi State, highlighting lack of infrastructure, insecurity, and outcome of feasibility studies that showed that the land is not suitable for business.

The management, in its response to the Director-General, Bureau of Lands and Urban Development in Kogi State with titled; ‘Re: Demand notice for ground rent and demand for payment of compensation in respect of certificate of Occupancy Nos KG 11713’, said it has never utilized the land

BUA said: “Since our invitation by the state in 2012 to invest through that land, there has been no visible effort by the state and successive governments till date, to address the issue of access (i.e infrastructure, roads) that will enable us utilize the land for its intended purpose. Currently, the land is only accessible by water and without the required investments and other enabling infrastructure, the venture will not be feasible.

 “Major security challenges: there has been a massive deterioration of security in and around the area for the past few years, making it practically impossible to start any project there as an investor.

“We conducted further feasibility studies on the land and found out that only about 30 per cent of the entire land mass is suitable for our investment with the rest (66per cent) consisting of rocky, hilly and undulating areas which is not suitable for its intended purpose.

“Finally, due to the reason enumerated above, and the fallout associated with it, we hereby wish to indicate through this letter and inform you that we are no longer interested in continuing with our proposed investment.

“We wish to however state unequivocally that had we decided to proceed with the proposed project, BUA would have been happy to pay all dues and necessary compensation to the state and other stakeholders in line with our obligations.

“This is because as a responsible organization, we believe in the principles of equity, sustainable business practices and fairness. “This has been the hallmark of our operations and engagement with communities and governments, everywhere we operate. Unfortunately, since the land cannot be used for its intended purpose, and based on the foregoing, the government of Kogi state may go ahead to revoke the land if it so wishes.”