A consortium of prominent real estate firms in Nigeria has joined forces to establish AgriNova, a platform designed to deliver structured, realistic, and information-driven agro-real estate investment opportunities in the country. The initiative aims to address long-standing issues of opacity and mismanagement in the sector.
Agro-Real Estate as a Strategic Asset Class
The fusion of agriculture and real estate is increasingly recognized as a strategic asset class in emerging markets. It integrates land ownership with agricultural production, creating a dual-income model that generates revenue from farming while the land appreciates in value. This approach offers a sustainable, inflation-resistant investment that provides passive income, often professionally managed by developers, allowing investors to acquire land and profit from agricultural yields.
Challenges in the Nigerian Market
In Nigeria, the agro-real estate sector 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), noted: “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.”
Structure and Partners of AgriNova
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 includes several real estate companies such as Assetrise Limited, BRG (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, stated: “We have come together to pull up risks and see agriculture in Nigeria advance to a new level that will lead to GDP growth in the country and provide jobs for our youth. We are together as one voice to lead this new agricultural revolution.”
Investment Model
In the AgriNova model, developers sell demarcated plots of land to investors, manage the farming operations, and distribute returns to investors based on the yield of the land. Income is generated strictly from the sale of crops produced on individual plantations, while the investor retains ownership of the land. The consortium is initially focusing on oil palm cultivation.
Government Support and Industry Recognition
Dr. Ololade Abuta, CEO of Gracias Homes and Property, emphasized the need for government backing: “Agriculture is very important; the aim is to go beyond selling to individuals. It is to get recognized by the Federal government and deal with a lot of transactions beyond Nigeria, because we have the capacity.”
The Chairman of the Lagos chapter of the Real Estate Developers Association of Nigeria (REDAN), Dr. Tony Kolawole, praised the initiative: “This is an innovation that the world needs now. It combines both the benefits of property ownership and agriculture. We cannot live without food; as a nation is preserved through agriculture.” He encouraged other realtors to develop an interest in selling agro-real estate.
