Mama Hannah’s Limited concludes acquisition of 40 hectares of 100 hectares plan to foster Agriculture

As Nigeria continues to witness fluctuations that have impacted the economy significantly, Mama Hannah’s Limited embodies this change with its multifaceted approach. Specializing in rubber and oil palm cultivation, the company would not only contributes to the nation’s agricultural output but also serve as a vital link in the supply chain of fast-moving consumer goods (FMCG).

In November 2022, Mama Hannah’s Limited was officially registered, marking the inception of a visionary endeavor by its Founder, Olabode Fayemiro. With her plantation located in the heart of Okitipupa, Ondo state, Mama Hannah’s Limited is playing a key role in agriculture to shape the nation’s economic landscape.

In the 1960s, the agricultural sector was the most important in terms of contributions to domestic production, employment and foreign exchange earnings. The situation remained almost the same three decades later with the exception that it is no longer the principal foreign exchange earner, a role now being played by oil.

Contrary to popular belief, agriculture has consistently outstripped petroleum in contributing to Nigeria’s Gross Domestic Product (GDP). Figures from 2022 reveal that the agricultural sector contributed a staggering 25.88% to the national GDP, compared to the oil sector’s modest 7.24%.

Employment in Nigeria mirrors the prominence of agriculture, with the sector providing over 30% of job opportunities. Millions of Nigerians depend on agriculture as their primary source of income despite a number of obstacles, such as restricted access to arable land and climate change. Not just conventional farming practices are at work here; agriculture is changing and providing a range of professional opportunities, including emerging industries like Agritech.

Nigeria is home to 70.8 million hectares of agricultural land, of which 34 million hectares are arable. Crop production, constituting over 90% of the agricultural GDP. The main crops in the country are staples like cassava, yam, maize, rice, and millet; cash crops like cocoa, rubber, cotton, and oil palm contribute to the agricultural diversity of the country.

Mama Hannah’s Limited is at the forefront of this agricultural renaissance. With a current plantation size of 40 hectares, the company has set its sights on expanding to 100 hectares by the end of 2024. Specializing in rubber and oil palm cultivation, Mama Hannah’s Limited not only contributes to Nigeria’s agricultural output but also fuels various industries, from cosmetics to biofuels.

Nigeria is a world leader in the production of cassava and yam, accounting for nearly 20% and 70% of global production, respectively. Despite these achievements, cash crop production remains under-exploited. While demand for cash crop products such as rubber and oil palm soars, challenges such as inadequate finance and infrastructure hinder sector growth.

Recognizing the need for agricultural innovation, Mama Hannah’s Limited uses modern technologies like artificial intelligence to enhance productivity and profitability for small scale farmers. By leveraging these advancements, the company empowers local farmers and empowers rural development, amplifying the sector’s impact on Nigeria’s economy.

As Mama Hannah’s Limited embarks on its journey, it carries the spirit of Nigerian agriculture—resilient, innovative, and ripe with potential. Through sustainable practices and technological integration, the company not only cultivates crops but cultivates hope for a brighter, agriculturally prosperous future for Nigeria.