Dual Realty Ltd, a real estate company, is addressing Nigeria’s food insecurity crisis through innovative investment strategies in agriculture. The firm has launched a scheme where it invests in large-scale farming on behalf of its customers, providing annual returns on these investments.
According to Mr. Festus-Tomiwa Oyelakin, Chief Operating Officer of Dual Realty, the company has introduced a model that integrates real estate investment with agricultural development. The scheme involves purchasing land, which is then used for farming, and sharing the proceeds with the landowners. This approach not only contributes to alleviating food insecurity but also offers a return on investment to the buyers.
The company has recently opened the Springfield Estate in Moniya, Ibadan, where land is utilized for various agricultural purposes, including cassava, maize, tomatoes, plantain, and timber. The firm handles all agricultural processes, from land preparation to harvesting, and provides landowners with returns of 10% to 25% on their investment.
Oyelakin highlighted that this model contrasts with traditional real estate practices, where land is often left undeveloped for years. By actively farming the land, Dual Realty is helping to address food insecurity while also increasing the land’s value. This initiative aligns with broader efforts to mitigate the effects of climate change and eco-violence on Nigeria’s food supply.
The United Nations has projected that 80-82 million Nigerians could face severe food insecurity by 2030 if current trends continue. Dual Realty’s approach represents a proactive step toward tackling this crisis by leveraging real estate investments to enhance agricultural productivity and support local food security.
