Nigeria’s maize production has received a boost as H.O Corn has opened an investment window for the cultivation of the crop in large quantities.
H.O Corn says it plans to cultivate maize on about 30,000 hectares which will yield an additional 120,000 metric tons to national output to help meet household and industrial demand of the crop in 2020.
The investment window created by the firm will allow investors to invest in the cultivation of the crop with a minimum of 50percent return on investment.
Harrison Andrew, chief executive officer, H.O Corn while briefing journalists, stated that the 30,000 acres production capacity can accommodate 30,000 investors with a minimum investment of N100,000 per lot and assurance of 50 percent return on investment.
“An investor can pay for one lot or more, depending on his or her financial strength and is assured of getting 50 percent of his investment as profit,” Andrew said in a statement.
“All interesting individual or company needs to do is fill the investor form on our website: www.hocorn.ng and pay the minimum unit price of N100,000 and get N50,000 as profit at the end of a farming season,” he added.
According to Andrew, maintaining a steady increase in maize production will have a huge positive impact on the country’s GDP as the importation of maize will be reduced.
“Over 60 percent of Nigeria’s maize production goes into animal feed, especially for poultry; 10 to 15 percent is directly consumed roasted, boiled or prepared as porridge by individuals in households,” Andrew said.
“The balance is consumed by food manufacturing industries as raw material. This means that the demand for maize would continue to rise in the country,” he said.
Nigeria, Africa’s second-largest maize producer after South Africa is churning out 10.5million metric tons of maize per annum with a demand of 15 million metric tons, leaving a supply-demand gap of 4.5 million MT, data from Federal Ministry of Agriculture states.
The 120,000MT addition by H.O Corn will help reduce the country’s deficit and yearly importation of maize.
Speaking of growth and development, he said, the company began maize cultivation in 2017 on farmland located at Iseyin Local Government Area in Oyo State.
He added that his organisation is now the largest maize farm in the country with the addition of 30,000 hectares.
Andrew further explained that the company would increase the cultivation capacity to 50,000 acres next farming season to increase opportunities for investors and contribute to mitigating the eminent hunger crisis in the country.
The initiative, he said, will contribute to the country’s agricultural growth while creating job opportunities to Nigerians to create wealth through farming.
“H.O CORN produces and processes fresh and dry corn and supply to the local market, whose domestic consumption has continued to experience phenomenal growth over the years,” he said.
“We use the latest technology in agriculture production and operate a complete line of modern machinery that includes corn planter and combine harvester,” he further said.
“We believe that food should be of high quality, locally sourced, readily available and sustainable. Our passion is to pursue corn farming as a solution to the hunger crisis in Africa and become a contributor to the continents Agricultural industry,” he added.
