Food Deficit: Firm launches agro investment scheme per acre
2026-02-28 - 01:56
By Olasunkanmi Akoni A Lagos-based agribusiness firm, Moor Farms Limited, has launched a three-year agricultural investment scheme requiring a minimum investment of N6 million per acre, targeting returns from cassava, cashew, and corn cultivation aimed to boost food security in the country. Chief Executive Officer of Moor Agro-Finance and Investment Bank, Olumuyiwa Adewunmi, who revealed this at a media briefing in Lagos, said each investor would be allocated one acre of farmland within the estate, with projected earnings distributed annually over a three-year cycle. Investors are expected to receive about N645,000 in the first year, N843,000 in the second year, and up to N2.7 million by the third year, depending on crop performance and market prices. Speaking on the investment operations, Adewunmi described it as an integrated solution, combining cultivation, processing, and produce offtake within its estate model. He added that by using precision farming techniques, investors can remotely monitor soil health, water and nutrient levels, and projected crop valuation through a digital platform linked to their investment profile, allowing daily updates regardless of location. According to Adewunmi, “each estate is designed with 45 per cent cashew, 35 per cent cassava, and 20 per cent corn, while “platinum” subscriber can adjust crop composition within approved limits. “Estates will begin with 20-hectare fenced and monitored plots, scaling to thousands of hectares across Nigeria, including specific locations in Kogi State.” He added that the firm has applied for a microfinance licence to support its operations, and noted that security measures and crop insurance arrangements have been established to mitigate theft and environmental risks. ”To mitigate investor risk, Adewunmi, stated that the firm has arranged crop insurance through First Bank Insurance, covering losses associated with cultivation. This is crop insurance,” Adewunmi stated. Beyond financial returns, he added that the initiative aims to create employment opportunities and strengthen fiscal and land security within farming zones. He argued that structured private participation in agriculture is crucial given Nigeria’s 77 million hectares of arable land, much of it underutilized, with a $22 billion annual food deficit. Adewunmi said the estate model aggregates smallholder production into commercially viable operations, aiming for zero waste through guaranteed offtake. Operations under the scheme are scheduled to commence in March, with investors provided with all inputs necessary for their plots. He stressed that investments are for life, with projected property value and crop yield appreciation, underscoring the long-term nature of the project.