Edo State Governor, Senator Monday Okpebholo, has reportedly revoked the statutory right of occupancy belonging to PRESCO PLC, according to a public notice now circulating widely online.
The notice, which Dockaysworld observed trending on Wednesday, gained traction after it was shared by a former Edo State Commissioner for Digital Economy, Science and Technology, Ogbeide Ifaluyi-Isibor.
According to the revocation notice, Governor Okpebholo based his decision on “overriding public interest,” citing the presence of two oil wells within the affected property as part of the justification.
The order affects approximately 13,545 hectares of land located at Plot No. 38445, Rural Zone/B33/Ologbo in Ikpoba Okha Local Government Area, as described in the detailed survey attached to PRESCO’s Certificate of Occupancy dated February 23, 2025.
The notice states that the governor exercised his powers under Sections 28 and 38 of the Land Use Decree No. 6 of 1978 (now an Act), which allow for the revocation of occupancy rights for public purposes.
However, the development has sparked widespread reactions, with many critics expressing concern that the state government’s posture could discourage existing and potential investors.
PRESCO is the biggest player in the oil palm industry and a major business player in the country. Recently, it was reported that its share price surged by 205 percent year-to-date to close trading at N1,450 per unit.
Some commenters argued that such abrupt land actions, especially involving major agribusiness operators like PRESCO, could harm the investment climate in Edo State.
The move comes off the back of Okpebholo revoking land rights of MOWAA(the museum of West African Arts).
Others argue that the Governor is acting in the best interests of the state for the overall benefit of the people as intimated by the rationale of ‘public interest’.
Below is an excerpt of the public notice:
LAND USE DECREE 1978
REVOCATION OF STATUTORY RIGHTS OF OCCUPANCY
PURSUANT TO SECTIONS 28 AND 38
“Notice is hereby given that… I, Sen. Monday Okpebholo, the Governor of Edo State of Nigeria hereby revoke the Statutory Right of Occupancy granted to PRESCO PLC for overriding public interest… in respect of all that property known as Plot No. 38445, Rural Zone/B33/Ologbo… measuring approximately 13,545 hectares… for overriding public interest and for the fact that two oil wells are on the land.”
The revocation was dated 21 November 2025.
