Foreign Land Acquisitions

Abstract

This chapter focuses on the impact of foreign land acquisition on the livelihood of the host communities. The chapter investigates Presco Industries, which has been in existence for the past 23 years in Obaretin and Ologbo Estates in Edo State. The impact on employment, entrepreneurship, community relation, environment, and farming, which are the main sustenance of rural communities, are also considered. The result of the Binary Probit Estimator employed shows that the existence of the company in the communities has not offered any significant impact on the livelihood of the people. All indicators of economic wellbeing are not significant for all the households. Therefore, there is need to incorporate the host communities' economic sustenance into the programmes of large-scale agricultural business before land acquisition.