Firm Drives Financing of Oil Palm Industry to Boost National Output
Oluchi Chibuzor
Reftop Holdings has continued to expand its footprint in driving innovative financing models of Nigeria’s agricultural financing model through allotment of 2,700 acres of land to subscribers under its PalmCrest Agro-Real Estate Project to boost national oil palm output by 5 percent in 2031.
This for the company marks a significant milestone in its drive to combine real estate investment with oil-palm plantation development.
This is also as the company has set a target of five-years plan to build its own oil palm refinery that would be capable of meeting 5 per cent Nigeria’s national output and thereby pushing the country to top 2 in world production.
Speaking in Lagos, recently the Managing Director of Reftop Holdings, Dr. David Assogba, said the project was designed to create opportunities for investors to participate in land ownership while supporting the development of productive agricultural assets.
He said that PalmCrest is Reftop’s flagship agro-real-estate initiative, built around the ownership of agricultural land, oil-palm cultivation and professionally managed plantation operations.
He explained that its first two project phases cover 5,200 acres and have attracted approximately 2,100 subscribers, reflecting growing participation in its agro-real estate investment model noting agriculture remains the next frontier.
“The model combines land ownership with the development and management of productive oil-palm farms. The concept connects land acquisition with productive farming, particularly oil-palm cultivation, allowing subscribers to participate in agriculture without having to personally manage the day-to-day activities of a plantation,” he said.
Presenting a technical report, the Chief Operating Officer, Reftop Homes Limited, Emmanuel Oluwatosin,said that so far 2700 acres has been allocated to subscribers, while 150,000 seedlings are ready for transplanting and 40,000 oil-palm seedlings are being nursed.