Reftop Holdings Launches Oil Palm Initiative to Boost Output

Reftop Holdings is advancing its PalmCrest Agro-Real Estate Project by allotting 2,700 acres of land to subscribers, aiming to increase Nigeria's oil palm output by 5 percent by 2031. This initiative marks a significant milestone in integrating real estate investment with oil-palm plantation development.

The Managing Director, Dr. David Assogba, stated that the project allows investors to own land while supporting agricultural asset development. The first two phases of the project cover 5,200 acres and have attracted around 2,100 subscribers.

The model combines land ownership with the management of oil-palm farms, enabling subscribers to engage in agriculture without managing daily operations. The Chief Operating Officer of Reftop Homes Limited, Emmanuel Oluwatosin, reported that 150,000 seedlings are ready for transplanting, with 40,000 oil-palm seedlings currently being nurtured.

Reftop Holdings also plans to build its own oil palm refinery within five years to contribute to Nigeria's national output.