By Abdullahi Lukman
Nigeria must attract stronger private-sector investment into agriculture to cut food imports and unlock the value of its vast unused farmland, the Chief Executive Officer of Moor Farms, Olumuyiwa Adewunmi, has said.
Speaking in Lagos, Adewunmi noted that although Nigeria has about 77 million hectares of arable land, millions of hectares remain underutilised even as the country faces an annual food supply deficit estimated at $22 billion.
He said channeling private capital into structured and professionally managed farming operations could help bridge the gap while delivering stable returns to investors.
Describing idle farmland as “sleeping capital,” Adewunmi said improved access to finance, technology and professional farm management would transform agriculture into a major driver of economic growth.
Analysts have attributed Nigeria’s continued dependence on food imports to longstanding constraints such as weak logistics, limited financing and high post-harvest losses.
Moor Farms is advancing an estate-based investment model that enables individuals and institutions to acquire titled farmland within managed agricultural estates, while the company handles cultivation, processing and market access.
Its pilot 400-acre estate in Kogi State produces cashew, cassava and corn—crops chosen for export potential, domestic demand and predictable harvest cycles.
The firm said it is deploying irrigation systems, data-driven crop monitoring and integrated supply chains to boost yields and shorten production timelines.
It also plans to embed processing facilities within its estates to curb post-harvest losses, estimated at about 40 percent nationwide.
Operating under Moor Agro-Finance and Investment Bank, the group combines agricultural production with financing solutions.
Adewunmi disclosed that it has secured title to about 20,000 hectares across multiple locations, with estates equipped with fencing, surveillance systems and agricultural drones.
Produce from the estates is benchmarked against pricing on the AFEX Commodities Exchange to ensure transparency, while a planned warehouse receipt system will allow stored crops to serve as collateral for bank financing.
He added that the initiative also seeks to extend financial and technological support to smallholder farmers who lack access to formal credit.
