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Southwest Nigeria’s Agricultural Revolution: N10 Billion Investment Deal Transforms Regional Food Security

 

Major agribusiness partnership set to create thousands of jobs and boost cocoa production across Southwest Nigeria

Southwest Agricultural Company Limited (SWAgCo), the agricultural investment arm of Odu’a Investment Company Limited, has announced a groundbreaking N10 billion joint venture agreement with three international partners, marking a significant milestone in Nigeria’s agricultural transformation.

Strategic Partnerships Drive Agricultural Innovation

The comprehensive partnership brings together SWAgCo with Starlink Global & Ideal Limited, PETAGULS Cultivars & Seedling Technologies Ltd, Foodlocker Limited, and the British American Tobacco Nigeria Foundation (BATNF) in an ambitious plan to industrialize Southwest Nigeria’s agricultural sector.

Westlink Integrated Agriculture Limited, an existing portfolio company under SWAgCo, will serve as the primary implementation partner for the multi-billion naira initiative.

N4.6 Billion Cocoa Plantation Takes Center Stage

The flagship component of this investment is a N4.6 billion cocoa plantation venture developed in partnership with Starlink Global & Ideal Limited and PETAGULS. This five-year project represents one of the largest private cocoa investments in recent Nigerian history.

Project Timeline and Scale:

  • Year 1: 100-hectare pilot program
  • Year 5: Full-scale 1,000-hectare operation
  • Duration: Five-year development cycle
  • Location: Odu’a Agro-Industrial Hub (Oke-Ako, Ekiti State) or Akunnu, Ondo State

The project sites are currently undergoing final land validation processes to determine the optimal location for maximum agricultural output.

Economic Impact and Job Creation

SWAgCo projects the cocoa venture will generate thousands of direct and indirect employment opportunities across Southwest Nigeria, providing significant economic benefits to local communities.

Expected Outcomes:

  • Massive job creation in rural areas
  • Enhanced food security through improved agricultural infrastructure
  • Sustainable development practices
  • Long-term regional economic growth
  • Utilization of existing irrigation systems

International Expertise Meets Local Knowledge

The partnership leverages decades of international experience combined with local agricultural expertise:

Starlink Global & Ideal Limited contributes over 40 years of proven experience in international cocoa trading and African commodity markets, bringing global market access and trading expertise to the venture.

PETAGULS Cultivars & Seedling Technologies Limited specializes in advanced cocoa seedling production and agricultural consultancy, offering cutting-edge cultivation techniques and seedling multiplication technologies.

The company combines seasoned professionals from established local institutions with specialized agricultural consultancy services, ensuring both international standards and local market understanding.

Strategic Significance for Nigeria’s Agricultural Sector

This landmark investment aligns with Nigeria’s broader agricultural transformation agenda, particularly in the cocoa sector where the country ranks among global top producers. The project’s focus on sustainable practices and infrastructure development positions Southwest Nigeria as a model for agricultural industrialization across the continent.

The initiative’s emphasis on utilizing existing irrigation infrastructure demonstrates a strategic approach to maximizing agricultural productivity while supporting food security objectives throughout the region.

The N10 billion investment represents a significant vote of confidence in Nigeria’s agricultural potential and marks a new chapter in the country’s journey toward agricultural self-sufficiency and export competitiveness.