OWN A GOAT FARM/FARMS @ HECTARE BY HECTARE FARM ESTATE, AGBALA IMO-STATE

OWN A GOAT FARM/FARMS
@
HECTARE BY HECTARE FARM ESTATE, AGBALA IMO-STATE

***** Single-Digit Interest Loan Available *****
***** Loan Repayment tied to proceeds of the Farm/Farms *****

With very low equity contribution per farm lot, you can invest and stay in the comfort of your home/office and let our technical team and resident farmers farm and manage your farm/farms for you

PROJECT OVERVIEW

IRB AGRO entered into a development agreement with Adasomi Development Company for the development of its Land under the Hectare by Hectare programme. Pursuant to the development agreement, Adasomi has planned the land into a farm estate comprising of 374 farm plots of 450m2each of which will serve as a goat pen.

The project proposes to provide onsite infrastructure to support animal husbandry.

TERMS AND CONDITIONS
  1. Subject to a maximum of 5 plots per participant, each Investor/participant is required to pay an application fee of N10, 000 per plot upon completion and return of application form.
  2. A proxy farmer shall upon issuance of provisional allocation letter,, be required to pay the sum of N25,000 and N35,000 respectively per plot as deposit for farming right and legal fee not later than 7 days to the commencement of construction on the plot.
  3. The deposit in addition to 7% of gross yearly income from each plot shall constitute the entire fee for a 15 years farming right to be granted to each proxy farmer by IRB Agro
  4. 5% of gross yearly profit due to a proxy farmer on each farm plot shall be deducted at source as infrastructure maintenance fee, while 1.5% of profit due to a proxy farmer on each farm plot shall be deducted at source as community development levy.
  5. Resident farmers shall be employed to provide farming services for all the farms within the estate as well as supervising farm laborers that would be employed for the maintenance of each farm.
  6. Upon the request of any proxy farmer, Adasomi shall provide Inter-mediation services for processing of Agric Loan to enable him/her to pay the fees contained in the schedule.
  7. Subject to other terms and conditions, net interest payable on the loan shall not be more than 9% per annum.
  8. Each proxy farmer shall be entitled to 70% of gross yearly profit on each of his/her farm lot

VERY IMPORTANT NOTES

  1. Subject to a maximum of 5 persons per farm, a participant/proxy farmer can own a proportionate interest in a farm.
  2. At the discretion of the proxy farmer, each of the goats could be pre-sold to a primary off-taker or could be delivered to him/her, sold to a secondary off-taker/end user or alternatively processed and preserved for him/her at the storage facility within the farm estate.
  3. Where the goats are processed and preserved in the storage facility, the proxy farmer shall receive HBH warehouse warrants detailing the value of his/her stock in the storage facility

The proxy farmer could from time to time trade on these warrants to enable him/her unlock value of his/her stock stored in the facility.

VERY IMPORTANT NOTES

  1. Subject to a maximum of 5 persons per farm, a participant/proxy farmer can own a proportionate interest in a farm.
  2. At the discretion of the proxy farmer, each of the goats upon fattening/maturity could be delivered to him/her, sold to a secondary off-taker/end user or alternatively processed and preserved for him/her at the storage facility within the farm estate.
  3. Where the goats are processed and preserved in the storage facility, the proxy farmer shall receive HBH warehouse warrants detailing the value of his/her stock in the storage facility
  4. The proxy farmer could from time to time trade on these warrants to enable him/her unlock value of his/her stock stored in the facility.
SCHEDULE OF FEES PAYABLE FOR BREEDING AND FATTENING STOCK OF 20 GOATS PER FARM
Cost of land clearing       40,000  
Cost of survey     18,000
Construction cost of pen   498,000
Agency fee 25,000
Infrastructure Development levy246,000 
Cost of 20 goats    260,000
Cost of drugs         4,000
Cost of supplement      2,000
Cost of Ear Tag / record book / board      4,000
Deposit of premium for fire/special perils life insurance  22,500
Deposit of premium yield protection  insurance        6,500 
Deposit for Fidelity Insurance    7,150  
Training fee for resident farmers  3,000 
Cost of feed240,000 
Farm Assistant 30,000  
Resident farmer   12,000   
Vet doctor      6,000    
Consultant       12,000   
Cost of power    1,400  
Security   14,000   
Management fee   48,000  
Miscellaneous10,000   
Total Amount   N 1,509,550

Application Fee, Deposit for Farming Right and Legal Fee shall be made payable to:

A/c Name: Adasomi Development Company Limited
A/c No.: 1100156539
Bank: Imo Micro Finance Bank Ltd
OR
A/c Name: Adasomi Development Company Limited
A/c No.: 0250167901
Bank: NIRSAL Micro Finance Bank Ltd

  • Payments for all the items contained in the schedule shall be made payable to a project account either by outright payment or through agricultural loans to be secured on behalf of the participants by Adasomi at a maximum net interest of 9% per annum.
  • All allocations shall be on a first come, first served basis.
  • Where an applicant fails to get an allocation of farm/farms, his/her application fee shall be refunded.
MINIMUM INCOME PROJECTION FOR BREEDING AND
FATTENING STOCK OF 20 GOATS PER FARM

4 YEARS INCOME PROJECTION FOR BREEDING A STOCK OF 10 GOATS

BUYING OF GOATS

NO. OF GOATSCOST PRICE PER GOAT (N)TOTAL COST (N)
1013,000130,000

SALES OF GOATS

 YEARNO. OF ADULT GOATSMAXI. SALES  PRICE PER  ADULT GOAT (N)TOTAL REVENUE  (N)
YEAR 11830,000540,000
YEAR 22030,000600,000
YEAR 33030,000900,000
YEAR 45030,0001,500,000
VALUE OF GOAT REMAINING13013,0001,690,000

FOUR(4) YEARS INCOME PROJECTION FOR FATTENING AND SALES OF 10 GOATS EVERY 90 DAYS FOR 4 YEARS
BUYING OF GOATS

NO. OF GOATSCOST PRICE PER GOAT (N)COST OF FATTENING EACH  GOAT (N)
1013,0006,000

SALES OF FATTENED GOATS

PERIODNO. OF ADULT GOATSMAXI. SALES  PRICE PER FATTENED GOAT (N)TOTAL REVENUE  (N)
48 MONTHS16030,0004,800,000

NOTES AND ASSUMPTIONS
In the 1st batch, of breeding stock,   farm will begin with 10 goats (9 female, 1 male). If 9 female goats litter 9 kids at an average at the end of 8months, then we will have 18 goats. Then at the end of the 6 months, if 9 females litter again 9 kids it will be 27 goats. At the end of 16 months, 18 goats litter one each making all 45 at the end of 24 months (2 years).

In the 3rd year of farming, 45 goats will litter 45 kids making it 90 goats. While in the 4th year, the 90 goats will litter 90 kids making it 180 goats. With determined efficiency, more yields could arise thereby increasing the revenue for each farm.

Off-springs shall be insured immediately they are delivered.

Premium for insurance of any off-string shall be on account of the respective proxy farmer.

Net income due to a proxy farmer on a lot shall be determined after all legitimate deductions would have been made.

Quarterly payments of profit shall be payable only to proxy farmer’s transaction account.

Average cost of each goat to be fattened is N13,000.00

NOTE: Driven by the Hectare by Hectare BUY AND GET PAID Reward initiative, the numerous members of Hectare by Hectare premium (consumers) Cooperative Societies; constitute the bulk of the secondary off-takers/end users.

THE PAYMENT OF N10,000 PROCESSING FEE PER LOT, VALIDATES EXPRESSION OF INTEREST

Interested? Click Here to Express your Interest

Hits: 41