Firm Drives Financing of Oil Palm Industry to Boost National Output

Oluchi Chibuzor Reftop Holdings has been steadily expanding its influence in Nigeria's agricultural financing sector through the PalmCrest Agro-Real Estate Project. This initiative involves allotting 2,700 acres of land to subscribers, with the goal of boosting the country's oil palm output by 5 percent by 2031. This marks a significant milestone in the company's ambitious plan to combine real estate investment with oil-palm plantation development.

The company has set a target of building its own oil palm refinery capable of meeting five percent of Nigeria's national output. This would propel the country to the second position in global oil palm production. Dr. David Assogba, the Managing Director of Reftop Holdings, explained that the project is designed to provide investors with opportunities to participate in land ownership while simultaneously supporting the development of productive agricultural assets.

PalmCrest is Reftop's flagship agro-real-estate initiative, built around the ownership of agricultural land, oil-palm cultivation, and professionally managed plantation operations. The first two project phases cover 5,200 acres and have already attracted approximately 2,100 subscribers, highlighting the growing interest in this agro-real estate investment model. Notably, agriculture is identified as the next frontier for the company.

According to a technical report presented by Emmanuel Oluwatosin, the Chief Operating Officer of Reftop Homes Limited, 2,700 acres have been allocated to subscribers so far. Additionally, 150,000 seedlings are ready for transplanting, and 40,000 oil-palm seedlings are currently being nurtured.