LAGOS — NASCO Town Limited has formally appealed a Lagos State High Court judgment that nullified the Federal Government’s acquisition of approximately 292 hectares of land, urging stakeholders to avoid any dealings with the disputed property until the appellate process is concluded.
In a public notice issued on Friday, the company stated that it has exercised its constitutional right of appeal against the ruling delivered in SuitNo.ID/5709LM/2025. The matter is now pending before the Court of Appeal.
The High Court had declared the Federal Government’s acquisition invalid and awarded damages in favour of the claimants. NASCO, however, maintains that its title to the land remains valid, rooted in long-standing Federal Government acquisition and lease documents. These include Government Notice No. 1130 published in the Official Gazette of September 2, 1976, and Government Notice No. 1138 of September 8, 1977.
The company warned residents, tenants, businesses, Free Trade Zone operators, investors, financial institutions, estate agents, surveyors, and prospective buyers against purchasing, leasing, developing, or engaging in any transactions involving the 292.428-hectare parcel.
“Anyone transacting with parties other than NASCO over the land would do so at their own risk and subject to the outcome of the appellate proceedings,” the statement read.
NASCO described the land as fully developed, housing residential estates, road infrastructure, Free Trade Zone operations, transit harbour facilities, and significant third-party investments. It assured stakeholders of its commitment to protecting existing developments while the appeal is pending.
The firm expressed disagreement with the lower court’s decision, noting that its appeal raises substantial legal questions touching on government acquisition processes, limitation of actions, public purpose, possession, compensation, excision, and the legal effect of decades-long title and development activities on the property.
Beyond the immediate parties, NASCO said the case holds broader implications for legal certainty, industrial development, and investor confidence in land transactions backed by Federal Government records.
The company further noted that the prolonged litigation has delayed planned investments in infrastructure, employment generation, education, healthcare, and community development projects within NASCO Town, established as a hub for residential, industrial, logistics, and Free Trade Zone initiatives.
Stakeholders have been advised to verify official records and seek independent legal counsel before acting on any competing claims to the land. NASCO pledged to pursue the matter through the judicial process while safeguarding the interests of all lawful investors and residents.
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