NASCO Town Limited has appealed the recent judgment of the Lagos State High Court nullifying the Federal Government’s acquisition of 292 hectares of land and urged the public to refrain from conducting any transactions involving the disputed property pending the outcome of the appeal.
In a public notice issued by its management, the company said the judgment delivered in Suit No. ID/5709LM/2025 is not final, stressing that it has exercised its constitutional right of appeal and that the matter is now before the Court of Appeal.
The statement was issued in response to media reports on the High Court’s decision in a case concerning the ownership of the land known as NASCO Town.
The company reassured residents, tenants, Free Zone operators, investors, workers and other stakeholders that it would take all lawful measures to protect existing developments and preserve the subject matter of the appeal throughout the appellate process.
NASCO also issued a warning to prospective buyers, developers, surveyors, financial institutions and investors against purchasing, leasing, developing or entering into any transaction involving the approximately 292.428 hectares of disputed land until the appeal is finally determined.
It cautioned that anyone dealing with parties other than NASCO over the land would do so at their own risk and subject to the outcome of the pending appeal.
The company maintained that its title and possession of the land derive from Federal Government acquisition and lease documents, including Federal Government Notice No. 1138 published in Official Gazette No. 44, Volume 64 of September 8, 1977, as well as Government Notice No. 1130 published in Official Gazette No. 44, Volume 63 of September 2, 1976.
NASCO said members of the public should verify the official records and obtain independent legal advice before relying on contrary claims.
While expressing respect for the court, the company said it disagreed with the High Court’s decision and argued that its appeal raises significant legal issues relating to government acquisition, limitation, public purpose, possession, compensation, excision and the validity of its long-standing title and development activities.
According to the company, the disputed land is already developed and hosts residential estates, roads, infrastructure, Free Trade Zone operations, transit harbour facilities, businesses, workers and other third-party investments.
It warned that speculative transactions before the determination of the appeal could disrupt businesses, industries, investors, lenders and residents operating within the area.
NASCO further described the appeal as one with wider implications for legal certainty, investor confidence and industrial development, particularly regarding reliance on Federal Government acquisition, lease and allocation records.
The company reiterated its commitment to pursuing the matter through the judicial process while respecting the authority of the courts and protecting the interests of residents, tenants, investors and other stakeholders.
It added that NASCO Town was established to support residential, industrial, logistics and Free Trade Zone development, and that prolonged litigation has delayed planned investments in infrastructure, employment generation, schools, healthcare, emergency services and other community projects.
The company reaffirmed its commitment to the rule of law and the protection of all persons who have lawfully invested, leased property or reside within NASCO Town.