NASCO Town Limited has filed an appeal against the Lagos State High Court's judgment that invalidated the Federal Government's acquisition of 292.428 hectares of land. The company issued a public notice on Tuesday stating the ruling in Suit No. ID/5709LM/2025 is not final and that the matter is now before the Court of Appeal. It warned the public against any dealings with third parties over the disputed land, saying such transactions would be at the individual's or entity's own risk and subject to the appeal's outcome. NASCO urged residents, tenants, businesses, Free Trade Zone operators, investors, and financial institutions within NASCO Town to remain calm, assuring them it will take all lawful steps to protect existing developments.
The company cautioned developers, estate agents, surveyors, banks, and prospective buyers against purchasing, leasing, or developing any part of the property. It cited 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, as the basis for its title. NASCO stated it disagrees with the High Court's decision, arguing that the appeal raises substantial legal issues around government acquisition, limitation of actions, public purpose, possession, compensation, and excision. The land, it noted, is fully developed and hosts residential estates, road infrastructure, Free Zone enterprises, transit harbour facilities, and significant third-party investments.
NASCO said speculative transactions could disrupt industrial operations and harm investor confidence. It described the appeal as being of broader public importance, touching on legal certainty and investor confidence in land transactions based on federal records. The company reaffirmed its commitment to the judicial process and to protecting lawful investments in NASCO Town, a development established for residential, industrial, logistics, and Free Trade Zone purposes. It added that prolonged litigation has delayed planned investments in infrastructure, employment, education, healthcare, and emergency services.
NASCO Town disputes a court ruling on land it says is fully developed while citing federal notices from 1976 and 1977 as title proof. The appeal raises questions about how long-standing developments can rest on decades-old gazette entries with unresolved legal challenges. Residents, workers and investors in the zone now face uncertainty over property rights and future projects. The outcome will determine whether current operations can survive a potential legal reversal.
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