The Edo State government has denied issuing any notice to revoke Presco Plc’s statutory rights of occupancy.

Presco, an indigenous agro-industrial company focused on oil palm cultivation and processing, has been operating in Edo for 34 years. In a statement dated November 26, 2025, the government called an earlier notice, allegedly signed by the governor, false and unauthorised. It clarified that no action had been taken to disrupt Presco’s operations.

Instead, a limited excision of approximately 20 hectares from Presco’s larger holding of over 13,500 hectares is being considered due to two strategic crude oil wells located on the land.

“The alleged publication did not emanate from the Governor or any authorised organ of the Edo State Government,” the announcement stated, adding that the action was allegedly orchestrated by the immediate past Managing Director of the Edo State Geographic Information Service (EDOGIS), who “acted without authorisation and in complete disregard for established procedures.”

The government cited national laws that allow land excision for public interest, but emphasised that this does not revoke Presco’s entire occupancy rights. The disputed notice had triggered public concern about the state’s investment climate, prompting analysts to warn of potential investor confidence issues.

“Contrary to misinformation, Edo State is not dispossessing Presco Plc of its land. The government only acknowledged federal control over land hosting oil assets,” a senior official said.

An administrative review is underway to investigate how the unauthorised notice was circulated, and the government urged stakeholders to disregard it. While Presco has not yet responded, observers suggest it may seek legal clarity or compensation if its operations are affected.

“Abrupt policy disruption sends a wrong signal to investors,” Mr. Evans Asagwu, a capital market investor with investments in Presco shares, earlier cautioned. “The latest clarification appears to be part of a coordinated effort to reassure investors, business partners and the agribusiness community,” said Asagwu, who expressed relief over the clarification.

“The public is advised to ignore any unauthorised notice regarding Presco Plc. Government will uphold due process and investor protection,” it said.

As the situation unfolds, all eyes are on how Edo State will balance agriculture, oil interests, and investor confidence moving forward.