SAVANNAH SUGAR COMPANY LIMITED V. WABBEY FARMS LIMITED

JUMMAI HANNATU SANKEY, JCA (Delivering the Leading Judgment): The Appellant, Savannah Sugar Company Ltd, entered into an agreement with the Respondent, Wabey Farms Ltd, on the 19th February, 1988 to take a sublease of 4000 hectares of its farmland for a period of twenty (20) years. Ingrained in the agreement were conditions for the Respondent Company to grow sugarcane on an increasing percentage of the land over a given period; as well as other conditions for sharing of the crop after harvest between the parties. The Respondent Company defaulted on the agreement, and the Appellant took over the farmland because of minimal performance on the part of the Plaintiff. However, following the intervention of the Bureau for Public enterprises in the affairs of the Respondent Company in the process of privatization, the Appellant Company was offered and it accepted the sum of ₦711,000.00 in full and final settlement of all his outstanding liabilities with the Respondent. The Respondent Company…