In a bid to compliment and optimise government efforts in land development to support small holder farmers, the Nigerian Agricultural Mechanisation and Equipment Leasing Company , is partnering with MANTRAC Nigeria Limited on an Integrated Nationwide Agricultural Land Development Scheme to aid best global practices along agricultural value chain.
Adekunle who noted that INALDS is a private sector initiative of NAMEL in collaboration with MANTRAC designed to open 500,000 hectares of unused arable land using the appropriate agricultural land development technology, said the payment is structured on a flexible deferred system over a period of one to three years.
According to him, “The resources of these stakeholders are thereby converted into a certain percentage as equity while the balance is spread over two to three years. He averred: “For primary investors in the production segment of agriculture, that is lot of money and that account largely for the reason why Nigeria, with over 90 million hectares of arable land still utilises less than 40 percent of it.