NASCO Town Limited has appealed a Lagos State High Court judgment that voided the Federal Government’s acquisition of approximately 292 hectares of land, warning members of the public against any transactions involving the property until the appeal is resolved.
In a public notice, the company said the judgment in Suit No. ID/5709LM/2025, which declared the acquisition invalid and awarded damages to the claimants, is not final since it has exercised its right to appeal. The matter is now before the Court of Appeal.
NASCO urged residents, tenants, businesses, Free Trade Zone operators, investors and financial institutions within NASCO Town to remain calm, assuring them it would take all lawful steps to protect existing developments and preserve the property pending the appeal’s outcome. It specifically cautioned prospective buyers, developers, estate agents, surveyors and banks against purchasing, leasing, negotiating over or otherwise dealing with any part of the 292.428-hectare property, warning that anyone transacting with parties other than NASCO would do so at their own risk, subject to the appellate court’s eventual ruling.
The company grounded its claim to the land in Federal Government acquisition and lease documents, citing Federal Government Notice No. 1138 in Official Gazette No. 44, Volume 64 of September 8, 1977, and Government Notice No. 1130 in Official Gazette No. 44, Volume 63 of September 2, 1976. It advised the public to verify these official records and seek independent legal advice before acting on any competing claims.
NASCO said it respectfully disagrees with the High Court’s decision, arguing its appeal raises substantial legal questions around government acquisition, limitation of actions, public purpose, possession, compensation, excision, and the legal weight of its long-standing title and development activity on the land. It stressed that the disputed property is not vacant but fully developed, hosting residential estates, road infrastructure, Free Trade Zone operations, Free Zone enterprises, transit harbour facilities, workers and substantial third-party investment, and warned that speculative dealings before the appeal concludes could undermine investor confidence and disrupt industrial operations, with knock-on effects for residents, businesses and lenders.
Framing the case as one of broader public significance, NASCO said the issues before the Court of Appeal extend beyond the immediate parties to touch on legal certainty, industrial development and investor confidence more generally in transactions built on Federal Government acquisition and allocation records. The company reaffirmed its commitment to pursuing the matter through the courts while respecting judicial authority, and said the prolonged litigation has already delayed planned investments in infrastructure, employment, education, healthcare and emergency services within NASCO Town, which it described as a vehicle for residential, industrial, logistics and Free Trade Zone development. It pledged to continue operating within the law while safeguarding the interests of residents, tenants, investors and workers pending the appeal’s final determination.
