Nigeria needs greater private-sector investment in agriculture to reduce its reliance on food imports and unlock the economic potential of vast underutilised farmland, the Chief Executive Officer of Moor Farms, Olumuyiwa Adewunmi, has said.

Speaking in Lagos recently, Adewunmi said millions of hectares of arable land across the country remain largely idle despite rising food demand and an annual food supply deficit estimated at about $22bn. Redirecting capital into structured farming operations, he said, could help close the gap while generating predictable returns for investors.

“Nigeria is sitting on a goldmine,” Adewunmi said, describing unused farmland as sleeping capital that can become a major contributor to economic growth if supported by technology, finance and professional farm management.

Africa’s most populous nation has roughly 77 million hectares of arable land yet continues to depend heavily on food imports, a mismatch, analysts say, that reflects long-standing challenges including limited financing, weak logistics networks and post-harvest losses.

Moor Farms is promoting an estate-based investment model that allows individuals and institutions to acquire titled farmland within professionally managed agricultural estates.

The company oversees cultivation, processing and market access, enabling investors to participate in farming without direct operational involvement.

The firm’s pilot project, a 400-acre estate in Kogi State, focuses on cashew, cassava and corn, crops selected for export demand, domestic consumption and relatively predictable harvest cycles. Investors can adjust crop allocations depending on their preferred investment horizon.

Adewunmi said modern irrigation systems, data-driven crop monitoring and integrated supply chains are being deployed to increase yields and accelerate production timelines. The approach aims to address inefficiencies that have historically limited agricultural output.

Post-harvest losses, estimated at about 40 per cent across Nigeria’s agricultural sector, remain a major concern. Moor Farms plans to integrate processing facilities within its estates to absorb produce immediately after harvest, reducing waste and improving value retention.

The company operates under Moor Agro-Finance and Investment Bank, combining agricultural production with financing solutions. Adewunmi said the group has secured title to about 20,000 hectares of land across multiple locations, with estates to include fencing, surveillance systems and agricultural drones for crop monitoring.

Produce from the estates is benchmarked against pricing on the AFEX Commodities Exchange, providing investors with transparent market pricing and reducing dependence on informal commodity traders. The company is also developing a warehouse receipt system that would allow stored crops to serve as collateral for bank financing.

Beyond investor participation, Adewunmi said the platform aims to extend financial and technological support to smallholder farmers who often lack access to formal credit.