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5 agritech investments to consider, as COVID-19 causes uncertainty in stock market

In a world where the Coronavirus pandemic has caused uncertainties in capital markets, agritech startups may have become safer options for investors.



CBN to increase loans to agricultural sector to 10% of total bank credit, Agritech, Efficient Power: Addressing a Critical Element in Nigeria’s Agro-Industrial Revolution

In a world where the Coronavirus pandemic has caused uncertainties in capital markets, agritech startups may have become safer options for investors. Today, there are various agritech startups that have made farming more profitable, by eliminating risk exposure and delivering ROI to investors who do not have to buy land, place workers on salaries, or even burn cash on pest control and management.

These agritech startups have reinvented the way farm business is operated, hence, making more Nigerians – most especially blue-collar workers –to weigh their investment options and consider becoming digital farmers.

The following are five selected agritech startups that offer high yield investment opportunities through internet/mobile app-farming.

  1. Groupfarma

This agrictech startup was founded by Niyi Oguntade. It is an initiative of Timesellers Limited. Groupfarma focuses on tubers, small ruminate, vegetables, poultry, and rice farms. The investment options offered by Groupfarma have various returns on investment, falling between 20% and 28%, with farming cycles from 6 months and above.

READ MORE: COVID-19: How your business can provide superior customer service despite lockdown

The capital required for investment is at least N50,000 per unit and the farm is covered by Leadway Assurance. Groupfarma has farms located in Ogun, Oyo, and Kaduna states. The company partners with the Nigerian Agricultural Insurance Corporation.

2. Farmsponsor

The firm is co-founded by Bill Kenneths and Akpa Chike. Farmsponsor leverages on technology to bridge the gap between interested investors and the farmers. It mainly focusses on poultry farming and offers investors assurance of 15% on 12-week cycles.

The start-up opens its farm to investors who are willing to invest from N100,000 to as much as N1 million. The investment firm also offers investors the opportunity to save their cash with vestwallet for upcoming cycles. Farmsponsor is also insured by Leadway Assurance and the Nigerian Agricultural Insurance Corporation.

READ MORE: Dangote: The King cement maker moving against all odds

3. Requid

Felix Imafidon is the founder of the marketplace, Requid, which won the maiden edition of the Nigerian Stock Exchange X-Kathon competition. The agric investment platform operates with a twist, as it offers investors the option of liquidating (selling) at any time if an investor cannot wait till the end of their cycles. Note that the cycles are usually between 3 to 12 months.

Five agric-tech funds you can invest in as COVID-19 causes uncertainty in stock market

Uka Eje, Co-founder Thrive Agric

The company also has the lowest capital investment among the selected agric-tech startups. Interested investors can invest as low as N5000 in investment opportunities aggregated by Requid, which include rice, goat, pig, cowper, cashew nuts, fish, yam, and poultry farms. Surprisingly, Requid offers as high as 60% cumulative return on investments annually.

READ MORE: Robots controlling spread of virus: A potential game changer

4. Thrive Agric

The agritech startup was co-founded by Ayodeji Arikawe and Uka Eje in 2016. Thrive Agric has farms in Oyo and Kano. Investors are allowed to invest from as low as N10,000 to as much as N85,000, depending on the investor’s preferred crop. Returns on investment fall between 12% and 20%, depending on the level of investment.


Thrive Agric manages both poultry and rice farms, which are insured by Leadway Assurance.

5. Farmcrowdy

This list will not be complete without mentioning this agritech startup. Farmcrowdy is a household name in the agric investment space. It was co-founded by Onyeka Akumah, Akindele Phillips, Tope Omotolani, Christopher Abiodun, and Ifeanyi Anazodo four years ago to empower farmers and help investors earn profits without having to lift a shovel.

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(READ MORE: Covid-19: Nigeria risks supply chain bottleneck, loss of N2.27 trillion in trade)

Farmcrowdy offers a variety of investment options to investors, ranging from maize farms to rice, potatoes, fish, cassava, poultry, cattle, and more farms, most of which are located in Kaduna, Oyo, Ogun, Niger State, and Lagos states. These farms are insured by Leadway Assurance.

Five agric-tech funds you can invest in as COVID-19 causes uncertainty in stock market

Co-Founder of Farmcrowdy-Onyeka Akumah

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Capital for investment falls between N20,000 and N60,000 per unit, with ROI ranging from 7% to as high as 44% depending on the investor’s farm choice. Farmcrowdy’s farm cycle runs between 3 and 24 months.

Why you should invest in agric

Nigeria is gradually moving closer towards experiencing an agrictech boom, as food security within the country is still low. The population explosion has further increased the value of agric businesses.

With a population of over 190 million,  Nigerian farmers are in need of more investments to meet the local demand for agricultural production as well as exportation needs. Not only is there a demand, the land is readily available, considering that out of 82 million hectares of Nigeria’s arable land only about 32 to 34 million hectares are cultivated.

(READ MORE: Covid-19 Update in Nigeria)


Following the border closure by President Muhammadu Buhari to support domestic farming, these hectares are expected to drastically decline in number in the long run. Ongoing efforts by the government to diversify the economy from oil dependence will also help in this regard. This is already paying off, considering that agriculture was one of the key drivers of the non-oil sector’s contribution to Nigeria’s GDP, growing by 2.28% in Q3 2019.

However, there is a warning sign

Note that the agritech investment market is still very much under-regulated, even as the Securities and Exchange Commission (SEC) has warned interested investors must carry out due diligence before patronising any agritech platform. Part of this due diligence is to contact SEC after discussion with the investment platforms.

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]



  1. Bayei Daniel

    April 13, 2020 at 12:20 pm

    Educative Article on turning away from the ever crashing oil sector to the future of investment in Agriculture.

    Fakoyejo olalekan …..nice job

  2. Uche Oguonu

    April 13, 2020 at 11:49 pm

    Agri-tech is certainly the way to go at this time. Changing the face of Nigerian agricultural sector is a task that must be done

  3. Mayowa

    April 14, 2020 at 6:01 pm

    I’m surprised that Nairametric would criticise an Agric tech company for offering 6-monthly ROI of 50% whilst promoting another in the same returns band. Smacks of inconsistency, to me.

  4. Mayowa Oduts

    April 14, 2020 at 6:02 pm

    I’m surprised that Nairametric would criticise an Agric tech company for offering 6-monthly ROI of 50% whilst promoting another in the same returns band. Smacks of inconsistency, to me.

    • Agritech

      April 16, 2020 at 5:22 am

      This is a sponsored article. Lacks credibility and proper investigative journalism.

  5. Gbemi

    April 15, 2020 at 10:11 am

    I love the fact that reQuid aggregates and verifies all the other agricultural technology companies in one place. Makes a whole lot of sense.

  6. Kingsley

    April 16, 2020 at 7:47 pm

    Interesting facts here… & true too. My second year of doing business with ReQuid & it’s all you ever want; all Agrotech opportunities in one place & for a most discounted price too.
    It’s amazing & proudly Nigerian!!

  7. Anonymous

    April 20, 2020 at 1:28 pm

    I didn’t understand this nairametrics

  8. Anonymous

    April 27, 2020 at 12:54 pm


  9. Anonymous

    May 2, 2020 at 1:43 pm

    Nice one

  10. Abiola

    May 10, 2020 at 4:51 pm

    Thank you for this timely information Mr Olalekan.

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COVID-19 Update in Nigeria

On the 7th of March 2021, 269 new confirmed cases and 5 deaths were recorded in Nigeria



Covid 19 update symptops

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 158,506 confirmed cases.

On the 7th of March 2021, 269 new confirmed cases and 5 deaths were recorded in Nigeria.

To date, 158,506 cases have been confirmed, 137,875 cases have been discharged and 1,969 deaths have been recorded in 36 states and the Federal Capital Territory.

A total of 1.54 million tests have been carried out as of March 7th, 2021 compared to 1.49 million tests a day earlier.

COVID-19 Case Updates- 7th March 2021,

  • Total Number of Cases – 158,506
  • Total Number Discharged – 137,890
  • Total Deaths – 1,969
  • Total Tests Carried out – 1,544,008

According to the NCDC, the 269 new cases are reported from 19 states- Enugu (78), Bauchi (37), Rivers (22), Imo (18), Ogun (16), FCT (15), Akwa Ibom (13), Kaduna (13), Kebbi (11), Kwara (9), Edo(7), Ekiti (6), Borno (5), Yobe(5), Kano (4) Nasarawa (3), Osun (3), Anambra (2) and Plateau (2).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 56,444, followed by Abuja (19,350), Plateau (8,944), Kaduna (8,658),  Oyo (6,766), Rivers (6,680), Edo (4,670), Ogun (4,437), Kano (3,844), Ondo (3,066), Kwara (2,962), Delta (2,582), Osun (2,457), Nasarawa (2,251), Enugu (2,156), Katsina (2,060), Gombe (2,010), Ebonyi (1,951), Anambra (1,813), Akwa Ibom (1,610), and Abia (1,588).

Imo State has recorded 1,569 cases, Borno (1,308), Bauchi (1,274), Benue (1,188), Adamawa (942), Niger (919), Taraba (863), Ekiti (834), Bayelsa (779), Sokoto (769), Jigawa (496), Kebbi (412), Cross River (334), Yobe (293), Zamfara (222), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.

Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.


On 26th January 2021, the Federal Government announced the extension of the guidelines of phase 3 of the eased lockdown by one month following the rising cases of the coronavirus disease in the country and the expiration of phase 3 of the eased lockdown.

On 28th February 2021, the federal government confirmed that the first tranche of Covid-19 vaccines will arrive in Nigeria on Tuesday, March 2nd, 2021.

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On Tuesday, 2nd March 2021, the National Primary health Care Development Agency announced the arrival of the expected COVX Astrazeneca/Oxford covid-19 vaccines.

On Saturday, 6th March 2021, President Muhammadu Buhari and his vice, Yemi Osinbajo received vaccination against the covid-19 as the State House in Abuja.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

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Update: Health Minister states side effects of COVID-19 vaccines

Dr. Osagie Ehanire has disclosed the side effect of the COVID-19 vaccines.



Nigeria to vaccinate 20 million people against Covid-19. Chinese Engineering firm donates medical supplies to Nigeria

Minister of Health, Dr. Osagie Ehanire has stated the side effects of the COVID-19 vaccines, which he said is mild.

The minister disclosed this during the live broadcast when President Muhammadu Buhari took his vaccine shot on Saturday.

According to the Minister, the reactions are usually mild and only few people had complained of mild pain in the part of the body they got the shot.

READ: COVID-19: Moderna set to launch a new vaccine for virus strain found in South Africa

He said, “It is not everybody that complained of reactions/side effects but few had complained of mild pain at the part of the body they got the shot.

”Usually manufacturing vaccines take not less than 4 years but this only took about 1 year, which is the reason some people are apprehensive about the vaccines. This was manufactured in the United Kingdom and has been certified.”

READ: How to register for Covid-19 vaccination in Nigeria

Ehanire, explained that the jab is painless as a narrow gauge syringe was used with a small quantity injected in the upper arm.

He added that the after-effects are mild but accompanied by little discomfort in the area that was injected.

Present at the brief ceremony were the Secretary to the Government of the Federation (SGF) Mr Boss Mustapha; Minister of Information and Culture, Alhaji Lai Mohammed; the Chief of Staff to the President, Professor Ibrahim Gambari and other members of the Presidential Task Force (PTF) on COVID-19, senior government officials and journalists.

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