Mantrac Nigeria Ltd and the Nigerian Agricultural Mechanisation & Equipment Leasing Company (NAMEL) have signed a Memorandum of Understanding (MoU) to launch an Integrated Nationwide Agricultural Land Development Scheme (INALDS) in Abuja recently.
The project is a private-sector initiative designed to open up an initial 500,000 hectares of unused arable land using the appropriate agricultural land development technology; the payment is structured on a flexible deferred system over a period of one to three years.
The project also accommodates farm management and global best practices along the agricultural value chain to optimized the use of the developed lands. It is structured to complement and optimized government’s efforts and resources in land development using a cost-split mechanism to support small-holder farmers and youth empowerment programmes while creating a flexible investment window for medium and large-scale primary production investors to open more land at reduced initial cost
Speaking at the MoU signing, the General Manager, Machine Sales, Mantrac Nigeria, Mohammed Ibrahim, described the joint effort with NAMEL as one that will yield magnificent results to the benefit of the agricultural sector and the nation at large. . Ibrahim who represented the Managing Director of Mantrac Nigeria Ltd said that the company was totally committed to empowering farmers for them to realise higher yields. Some crops of interest for cultivation include rice, wheat, cassava, sugar cane and yam, among others.
