Nigerians who are willing to invest in the nation’s maize production have been assured of 50 per cent returns on their investment. Harrison Andrew, Chief Executive Officer, H.O Corn, an agro based firm dropped the hint during the week while addressing newsmen in Lagos on the plans of the firm to ensure that Nigeria is self-sufficient in maize production.
He said that the firm is planning to cultivate 30,000 hectare of land and that the production capacity can accommodate 30,000 investors with a minimum investment of N100,000 per lot and assurance of 50 per cent return on investment.
He said that the 30,000 hectares is expected to yield 120,000 tonnes of maize to meet household and industrial demand this year. He advised interested individuals or company to fill the investors form at www.hocorn.ng and pay the minimum unit price of N100,000 and get N50,000 as profit at the end of a farming season. Andrew noted that investor can pay for one lot or more, depending on his or her financial strength, while assuring them of getting 50 per cent of their investment as profit.
He noted that the initiative will contribute to the country’s agricultural industry and provide massive employment opportunities to Nigerian and ensure sustainable wealth creation through farming and education on wise investment. Speaking further, he said that the company would increase the cultivation capacity to 50,00 hectares next farming season to increase opportunities for investors and contribute to mitigating the eminent hunger crisis in the country.
“H.O CORN produces and processes fresh and dry corn and supply to the local market, whose domestic consumption has continued to experience phenomenal growth over the years. “We use the latest technology in agriculture production and operate a complete line of modern machinery that include corn planter and combine harvester.
“We believe that food should be of high quality, locally sourced, readily available and sustainable,” he added. Andrew, however, stated that the 120,000 tonnes would be produced in two farming seasons, six months per season within the year, at 60,000 tonnes each. He explained that H.O Corn began maize cultivation in 2017 on a farm located at Iseyin Local Government Area (LGA) of Oyo State. He added that the company has increased its cultivation capacity to 30,000 acres, making it the largest maize farm in the country.
Andrew pointed out that maize production in the country has increased from 7.2 million metric tonnes between 2016 and 2017 to 10.2 million metric tonnes between 2018 and 2019. Accordingly, the Global Agricultural Information Network in its 2019 Report, said that the country is expected to consume 10.7 million metric tonnes of maize in 2020.
It added that the country is expected to import about 400,000 metric tonnes to meet maize demand within the year. According to Andrew, maintaining a steady increase in maize production will have a huge positive impact on the country’s GDP. “Over 60 per cent of Nigeria’s production goes into animal feed, especially for poultry, 10 to 15 percent is directly consumed roasted, boiled or prepared as porridge by individuals in households. “The balance is consumed by food manufacturing industries as raw material. This means that the demand for maize would continue to rise in the country,” he said.