NASCO Town Limited has appealed the judgment of the Lagos State High Court that voided the Federal Government’s acquisition of approximately 292 hectares of land and has cautioned the public against engaging in any transactions involving the disputed property until the appeal is resolved.
In a public notice issued Tuesday, the company stated that the judgment delivered in Suit No. ID/5709LM/2025 is not final, as it has exercised its constitutional right of appeal. The matter is now before the Court of Appeal.
This clarification follows media reports on the High Court’s decision, which declared the Federal Government’s acquisition of the land invalid and awarded damages to the claimants.
NASCO urged residents, tenants, businesses, Free Trade Zone operators, investors, financial institutions, and other stakeholders within NASCO Town to remain calm, assuring them that it will take all lawful steps to protect existing developments and preserve the subject matter of the appeal until its determination.
The company also warned prospective purchasers, developers, estate agents, surveyors, banks, and investors against purchasing, leasing, negotiating, developing, or otherwise dealing with any part of the disputed 292.428-hectare property.
According to the statement, anyone transacting with parties other than NASCO over the land does so at their own risk, and any such transaction is subject to the outcome of the appellate proceedings.
Defending its claim to the property, NASCO said its title is rooted in Federal Government acquisition and lease documents, including Federal Government Notice No. 1138 published in Official Gazette No. 44, Volume 64 of September 8, 1977, and Government Notice No. 1130 published in Official Gazette No. 44, Volume 63 of September 2, 1976.
NASCO advised members of the public to verify official records and seek independent legal advice before acting on any competing claims to the land.
The company reiterated its respectful disagreement with the High Court’s decision, saying its appeal raises substantial legal issues regarding government acquisition, limitation of actions, public purpose, possession, compensation, excision, and the legal effect of its long-standing title and development activities.
NASCO further stated that the disputed land is fully developed and not vacant, housing residential estates, road infrastructure, Free Trade Zone operations, Free Zone enterprises, transit harbour facilities, workers, and significant third-party investments.
It warned that speculative transactions before the appeal’s conclusion could undermine investor confidence, disrupt industrial operations, and adversely affect residents, businesses, lenders, and other stakeholders.
Describing the appeal as one of broader public importance, the company said the issues before the Court of Appeal go beyond the parties, touching on legal certainty, industrial development, and investor confidence in transactions based on Federal Government acquisition, lease, and allocation records.
NASCO reaffirmed its commitment to pursuing the matter through the judicial process while respecting the authority of the courts. It also reiterated its commitment to protecting lawful investments within NASCO Town, which was established as a vehicle for residential, industrial, logistics, and Free Trade Zone development.
The company said the prolonged litigation has delayed planned investments in infrastructure, employment generation, education, healthcare, emergency services, and other community development projects.
NASCO pledged to continue operating within the law while safeguarding the interests of residents, tenants, investors, workers, and all stakeholders pending the final determination of the appeal.
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