A consortium of prominent real estate firms in Nigeria has joined forces to create AgriNova, a platform designed to offer structured, realistic, and information-driven agro-real estate investment opportunities in the country.
Agro-Real Estate: A Strategic Asset Class
The intersection of agriculture and real estate is emerging as one of the most strategic asset classes in emerging markets. This model combines land ownership with agricultural production, providing a dual-income stream that generates revenue from farming while the land appreciates in value. It offers a sustainable, inflation-resistant investment that yields passive income, often managed professionally by developers, allowing investors to purchase land and benefit from agricultural returns.
In Nigeria, the practice of agro-real estate has been hampered by inadequate information, lack of transparency, and unscrupulous operators. Dr. Emmanuel Abikoye, coordinator of the consortium and President of the Billionaire Realtors Group (BRG), stated: "Over the last decade, thousands of investors have participated in land and agro-related investments that lack structure, accountability, and transparency. The result has been predictable: misaligned expectations, poor execution, and capital loss. This is what AgriNova has come to correct."
AgriNova's Structured Approach
According to Dr. Abikoye, AgriNova is a structured agricultural asset platform that harmonizes multiple estate operators into a single execution framework. This framework is built around verified land allocation, standardized plantation development, and production-based income. The consortium comprises several real estate companies, including Assetrise Limited, BRG (as marketing partners), Gracias Global Homes and Property, Eystone Development, Zularich Properties, GHP Properties, Landvest, Prime Pinnacle, Urban Living, and Auspicious Properties.
Oluwadurotimi Ojamamoye, CEO of Assetrise and operational partner of the consortium, emphasized the collective effort: "We have come together to pool risks and advance agriculture in Nigeria to a new level that will boost GDP growth and provide jobs for our youth. We are united as one voice to lead this new agricultural revolution."
How AgriNova Works
Under the AgriNova model, developers sell demarcated plots of land to investors, manage the farming operations, and distribute returns to investors based on the land's yield. Income is generated strictly from the sale of crops produced on individual plantations, while the investor retains ownership of the land. Ojamamoye noted that the consortium is starting with oil palm cultivation.
Government Support and Industry Recognition
Dr. Ololade Abuta, CEO of Gracias Homes and Property, highlighted the importance of government backing: "Agriculture is very important; our aim is to go beyond selling to individuals. We seek recognition from the Federal government and aim to handle transactions beyond Nigeria because we have the capacity."
Dr. Tony Kolawole, Chairman of the Lagos chapter of the Real Estate Developers Association of Nigeria (REDAN), praised the initiative: "This is an innovation that the world needs now. It combines the benefits of property ownership and agriculture. We cannot live without food; a nation is preserved through agriculture." He commended all partners in the consortium and advised realtors to develop an interest in selling agro-real estate.
