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Eighth Minds Investment Limited has launched two new projects that promise to revolutionize agricultural business and investment in Nigeria. The projects are Owo Epo and Owo Cocoa Farm Resort projects. Owo Epo means “oil money” and Owo Cocoa means “Cocoa money“ in Yoruba.
Speaking at the launch of the new agro investment projects on Friday, the Managing Director and Chief Executive Officer of Eight Minds Investments Limited, Dr. Adeboye Oluwaseun Amos, said that Owo Epo and Owo Cocoa are investment plans in which investors will buy part of the 30,000 hectares of land that the company has acquired in Ogun and Oyo states and the company plant palm kernel trees and cocoa.
He said that all the investors have is to pay for a part of the land and the company will cultivate and share the profit with the investors, adding that the company will do all the work – obtain documents for the land, clear it, plant the palm trees and cocoa, irrigate and harvest and sell the produce and pay the investor. He disclosed that the investors will get a bigger percentage of the profits.
According to the Chief Executive Officer of Eight Minds Investments Limited, the return on investment is massive compared to acquiring houses and collecting rents.
He said that profits on cocoa and palm trees take about three years to come, however, he disclosed that other crops like plantain that will be planted along the major crops will have profits to the investors on a yearly basis.
Dr. Amos stated that investment in Owo Epo and Owo Cocoa will impact the country’s economy positively and massively. He said that it has the potential to make Nigeria a food reliant country, adding that the nation will have to export food to other parts of Africa and the rest of the world.
He urged Nigerians to invest in a project that is going to change the narrative about the Nigerian economy.
He said that all the investor has to do is to acquire the land and the company will cultivate
Also speaking at the event, Mr. Adebowale Olatunbosun, the Media/Publicity, said the company was the result of collaboration among six Chief Executive Officers who created a consortium to bring the project to life.
He added that Owo Epo and Owo Cocoa will create jobs and reduce unemployment in the country.
He stressed the importance of food in the life of people, adding that the company will make the food sufficient in a few years.
In the bid to ensure the success of the company, it is partnering with the Nigeria Institute for Oil Palm Research and Nigerian Cocoa Research Institute. It has also appointed Mrs. Patricia Martin, the Chief Executive Officer of Fedora Farms Limited, as consultant.
Eight Minds Investments Limited has entered in a partnership with Consolidated Hallmark Insurance to insure the projects and assure investors of the safety of their investments.
