The National Agricultural Land Development Authority (NALDA) has entered into a Memorandum of Understanding (MoU) with Agbeyewa Farms Limited to establish a Joint Venture (JV) for large-scale cassava cultivation and the management of the Renewed Hope Mega Farm Estate in Irele, Ekiti State.
The agreement, signed in Abuja on Friday, is designed to strengthen Nigeria’s cassava value chain, improve food security, and align with President Bola Ahmed Tinubu’s Renewed Hope Agenda on agricultural transformation and rural development.
Speaking at the ceremony, Executive Secretary, NALDA, Engr. Cornelius Adebayo, said the partnership marks a major milestone in the government’s drive to modernise agriculture and empower private investors.
Adebayo explained that the collaboration was inspired by his inspection visit to Agbeyewa Farms in Ekiti, where the scale and efficiency of operations highlighted the crop’s vast potential.
“What we saw at Agbeyewa Farms changed my direction as chief executive. It encouraged me to include cassava as a major crop under NALDA. Nigeria is the world’s largest producer of cassava, yet we benefit the least from its global export market,” he said.
He expressed concern that despite producing around 65 million metric tonnes of cassava each year, Nigeria’s contribution to the $3.65 billion global cassava market is less than $1 million.
To close this gap, Adebayo said NALDA will intensify support for private sector participation in value addition through the production of cassava-based industrial products such as starch, flour, and sorbitol.
Under the MoU, NALDA will clear 5,000 hectares of land for Agbeyewa Farms to expand its current 3,000-hectare operation in Ekiti State, with similar initiatives planned in Delta and Kwara States.
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“Government cannot run enterprises. Our job is to provide the enabling environment for private investment to thrive. Agbeyewa has proven to be the best and largest in cassava cultivation; they deserve to anchor our Ekiti Mega Farm Estate,” Adebayo added.
He noted that the repayment arrangement for land clearing would be structured for flexibility and sustainability, allowing Agbeyewa to reinvest in production expansion.
“We are encouraging large-scale farming, in-grower systems, and farm estate clusters. This model will not only boost food production but also make Nigeria competitive in cassava exports,” he stated.
Adebayo further commended President Tinubu’s economic policies, noting that investor confidence in the agricultural sector had improved significantly, with NALDA receiving inquiries from six international partners in recent weeks.
On his part, Managing Director/CEO of Agbeyewa Farms, Mr. Oscar Seyi Ayeleso, lauded NALDA for its commitment to partnership and capacity building.
“This collaboration is a dream come true. Agbeyewa Farms started three years ago with 3,000 hectares of cassava and plans to expand to 5,000 hectares this year. Our goal is to become the largest cassava farm in the world,” Ayeleso stated.
He said the company’s operations have so far created over 2,300 jobs, including 444 managers and 1,100 farmers, while also providing training and employment opportunities for National Youth Service Corps (NYSC) members.
“We are transforming rural communities by promoting mechanized farming and youth empowerment. Our yield last year was 35 tonnes per hectare, and we are targeting up to 40 tonnes this year. Every hectare cultivated can make a farmer a millionaire,” he said.
Ayeleso reaffirmed Agbeyewa’s dedication to advancing Nigeria’s food security and industrialisation goals, noting that the company currently supplies major processors including Nestlé among others.
Also speaking, Technical Adviser to the NALDA Executive Secretary, Engr. Olusegun Owolabi, described the MoU as a blueprint for future collaborations across multiple agricultural value chains.