PRACO Ends 20-Year Land Dispute, Issues Allocation Papers

After over 20 years of legal battles and uncertainty, property consultants, Praco International Limited, have issued provisional allocation papers to investors and subscribers following several land seizures by the government.

Managing Director and Chief Executive Officer of Praco International Limited, Chief Obioma Success Akagburuonye, made the disclosure during the allocation ceremony in Abuja on Wednesday.

Chief Akagburuonye told newsmen that the ceremony marked a defining moment in the estate’s history, underscoring the company’s commitment to transparency and its determination to ensure that subscribers have a clear and documented interest in the project.

He disclosed that the allocations remain provisional, subject to the final approval of the site plan by the appropriate planning authorities in the Federal Capital Territory (FCT), who will determine the exact plot sizes and layout in line with regulatory standards.

According to him, the estate, originally measuring 388 hectares, had been significantly reduced over the years due to government actions.

He added that only a portion of the land had been restored, making it necessary to restructure allocations to accommodate subscribers within the available space.

Despite the constraints, he commended the patience and cooperation of investors, particularly those who made concessions to enable others to benefit from the limited land.

He urged subscribers to remain supportive as the process advances toward full documentation and development.
He further explained that the allocations remain provisional, pending final approval of the site plan by relevant FCT authorities, which will determine the exact plot sizes and layout.

Akagburuonye said, “Today is set aside to recognise you, update you, and give you guidelines that will lead you to take possession of your portion in this estate, known as Plot 1831, measuring 53 hectares. This land was reduced from 131 hectares to 53 hectares.

“I have paid for the Certificate of Occupancy but am yet to collect it. Going by the rules and regulations of land development in the FCT, the Development Control Department is in charge of approvals. It has been made clear that we cannot determine the exact sizes for each allottee until the Urban and Regional Planning Department approves the site plan.

“It is also important to note that those who subscribed for specific land sizes when it was 131 hectares may not get the exact sizes. However, most subscribers have accepted this condition, provided Praco allocates what is available to sustain their relationship with the company.

“The battle to recover this land lasted more than 20 years. I suffered humiliation, blackmail, and losses, but in the end, I prevailed. I was discharged and acquitted on May 5, 2022. The records are there,” he said.

Some subscribers present at the ceremony expressed cautious optimism, noting that the issuance of allocation papers and the physical flag-off of the project represent tangible progress after years of uncertainty.

Company officials also advised allottees to properly document their allocations and work through designated representatives who will liaise with relevant government agencies on approvals and compliance matters.

The groundbreaking ceremony is expected to set the stage for site plan approvals and subsequent infrastructure development, offering renewed hope that one of the Federal Capital Territory’s long-running land disputes is nearing resolution.