A real estate company, Zebulon Homes and Properties limited has unveiled its ultra modern farm named “Olamide Agro Smart City” to address food insecurity in Nigeria.
The Chief Executive Officer/Managing Director of the company, Dr. Ekene Matthew Ndubude, while speaking during the allocation of plots to the subscribers at Ado-Awaye, in Iseyin local government area of Oyo state on Saturday said that the initiative aimed at reducing unemployment among youths in the country, converting idle assets into income generating assets and boosting Food Security through Farming of Cassava which is the major source for highly in-demand staple food in Nigeria as well as contributing to the 2030 Energy Transition Plan in Nigeria.
Dr Ndubude noted that the farm would be managed by Manihot Farms and Integrated Processing Company Limited, a subsidiary of Zebulon Homes. He further stated that the company came up with a solution whereby the subscribers would continue to retain ownership of their land but the company would help each subscriber to set up a farm on the land and cultivate it.
“We noticed that many people love farming, but they don’t have the time and expertise while some people do not know where and how to sell their farm produce for maximum returns. That is why Zebulon Homes and Properties Ltd kick-started the initiative to boost the nation’s food basket.
“As a real estate company, we have access to land, so instead of just selling land to people and allowing it to remain fallow, we are farming for subscribers and helping them to sell during harvest thereby contributing to national food security, “he said.
Dr Ndubude noted that the initiative aligned with Maslow’s pyramid hierarchy of needs and the Sustainable Development Goal(SDG 2) which aimed to end hunger, achieve food security, improve nutrition, and promote sustainable agriculture.
He further stated that the farm has been equipped with modern CCTV cameras to complement efforts of local security guards. He disclosed that the farm had been registered under a reputable insurance, Nigeria Agricultural Insurance Corporation to protect the investments of the subscribers.
“We are also setting up a good irrigation system and other key features that will make it possible for us to farm all year round for maximum productivity as well as fencing of the entire 100Acre property to keep off trespassers and herders that could wander into the farm and destroying the crops”.
The MD said that all subscribers were being given four documents which include contract of sale, deed of assignment, registered survey plan and farming contract that shows that each subscriber approved that the land should be used to cultivate cassava, process and sell it, and pay returns on their investments every year.
“The land has been divided into clusters, we have three plots cluster, we have one acre cluster, and then we have one hectare cluster. The three plots cluster is selling at all-inclusive prices for N4,400,000, while annual return that the subscribers are going to get from it is 30%, which is around N1,080,000.
“Then on one acre all-inclusive price is going for N7,600,000 with annual returns of N1,800,000 from the cassava harvest which is the main crop planted on the land while the 1hectare is going for N16,000,000 with annual returns of N3,750,000 from the cassava planted on each of these clusters. The money for each clusters cover the cost of the land, farm setup, Farm management including weeding, insurance for the crops planted, fencing of the property, providing of Secuirty and other amenities on the farm to ensure the clients’ investments are protected and give maximum value, “he said.
He noted that the company, while working on setting up its cassava processing plants had alternatively signed partnership agreement with a cassava processing company in the neighborhood, Psaltry International Company Limited, to buy off all the cassava from the farm.
The MD disclosed that the farm had also got necessary approvals from the host community and was free from any form of land disputes.
Also speaking, the Alado of Ado-Awaye, Oba Rev. Ademola Olugbile Folakanmi, said that the Olamide Smart Agro city project would bring transformation and job opportunities for the youths in the community.
He assured the investors of adequate security for their investments. The monarch added that the town being the only community with a natural suspended lake in the world has ecotourism potentials which would also serve as a boost for their investments.
The company Brand Ambassador, Dr Tony Akposheri, a popular Nollywood actor and filmmaker, said that experience he had gathered over the years showed that investing in initiatives such as Olamide Agro Smart City pays more than keeping money in the bank account.
He urged civil servants and other citizens to key into the initiative so as to have something to fall back on after retirement.
Also, a subscriber, Mr Collins Madukasi., said that his land was allocated to him within a few days of payment which has not been common practice among many real estate companies.
Similarly, a realtor and Managing Director of Naijahomes Realty, Mrs Bridget Augustus, said investing in Olamide Agro Smart City has started yielding for her and her clients, noting that some of her clients won extra land for buying out of available clusters.
Among dignitaries that attended the land allocation ceremony include traditional leaders from Ado-Awaye town, Nollywood actors, youths representatives and realtors from various real estate companies.
