Olumuyiwa Adewinmi, CEO of Nigeria's Moore Farms, stated in Lagos: "Nigeria needs to strengthen private sector investment in agriculture to reduce dependence on food imports and unlock the potential of underutilized farmland." He pointed out that the country has about 77 million hectares of arable land, but a significant portion remains underutilized, while facing an annual food supply gap of approximately $22 billion.
Adewinmi believes that channeling private capital into structured and professionally managed agricultural operations can help narrow the food supply gap and provide stable returns for investors. He referred to idle farmland as "dormant capital," emphasizing that improving access to finance, technology application, and professional farm management can make agriculture a key driver of economic growth.
Analysts note that Nigeria's long-term reliance on food imports is due to factors including inadequate logistics infrastructure, limited financing access, and high post-harvest losses. Moore Farms is promoting an estate investment model that allows individuals and institutions to acquire titled farmland within managed agricultural estates, with the company handling planting, processing, and marketing.
The group's pilot estate in Kogi State covers 400 acres and primarily cultivates cashews, cassava, and maize. These crops were selected for their export prospects, domestic demand, and stable harvest cycles. The company is implementing irrigation systems, data-driven crop monitoring, and integrated supply chain management to increase yields and optimize production processes.
Moore Farms also plans to establish processing facilities within the estates to reduce post-harvest losses, which are estimated at around 40% nationwide. Through Moore Agricultural Finance and Investment Bank, the group integrates agricultural production with financing solutions and has secured title to approximately 20,000 hectares of land. The estates are equipped with fencing, surveillance systems, and agricultural drones.
Agricultural produce from the estates is priced with reference to the AFEX Commodities Exchange to ensure transparency. A planned warehouse receipt system will allow stored crops to be used as collateral for bank financing. Adewinmi added that the initiative also aims to provide financial and technical support to smallholder farmers lacking access to formal credit channels, thereby promoting the overall development of Nigeria's agriculture.
