Primary Off-takers
With only a guarantee to pay the sum of N115,000 per lot (5 goats) upon delivery, you can earn a profit of not less than N18,000 every 90days as Primary Off-taker of Goats.
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.
In line with the spirit and objectives of the Hectare By Hectare program, opportunities have also been created for primary off-takers to participate and earn sustainable income with very minimal cash outlay.
Terms and Conditions
- As a primary off-taker you will only be required to provide a guarantee to off-take a minimum number of 5 goats (1 lot) every 90 days within a period of 48 months.
- Subject to a minimum off-take sum of N115,000 per lot and an application fee of N10,000 per primary off-taker, you shall upon receipt of the offer letter and acceptance of the terms and condition, issue an irrevocable payment instruction to your bank guaranteeing the payment of the first primary off-take sum for the goats upon delivery and prior to sale to secondary off-takers/end users within the Hectare by Hectare value chain.
VERY IMPORTANT NOTES
- Subject to a maximum of 5 persons per farm, a participant can own a proportionate interest in a lot.
- At the discretion of the participant, 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.
- Where the goats are processed and preserved in the storage facility, the primary off-taker shall receive HBH warehouse warrants detailing the value of his/her stock in the storage facility
- The primary off-taker farmer could from time to time trade on these warrants to enable him/her unlock value of his/her stock stored in the storage facility.
- 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.
- Projected gross profit per lot due to a primary off-taker for the 48 months period is N336,000.00
Assumptions
- That there will be a minimum of profit of N18,000 i.e. N4,200 per goat for every cycle of 90 days.
- That there will be 16 cycles within the 48 months period.
Interested? Click Here to Express your Interest as a Primary Off-taker
Proxy Farmer
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.
***** Single-Digit Interest Loan Available *****
***** Loan Repayment tied to proceeds of the Farm/Farms *****
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
- 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.
- A proxy farmer shall upon allocation of plot/plots, 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.
- 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
- 2.5% 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.
- 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.
- 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.
- Subject to other terms and conditions, net interest payable on the loan shall not be more than 9% per annum.
- Each proxy farmer shall be entitled to 70% of gross yearly profit on each of his/her farm lot
- Secured off-take available for every goat to be fattened or bred within each lots.
VERY IMPORTANT NOTES
- Subject to a maximum of 5 persons per farm, a participant/proxy farmer can own a proportionate interest in a farm.
- 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.
- 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.
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 pens | 782,000 |
| Agency fee | 25,000 |
| Infrastructure Development levy | 246,000 |
| 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 feed | 240,000 |
| 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 |
| Miscellaneous | 10,000 |
| Total Amount | N 1,793,550 |
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 60 Days after construction and operation of your farm/farms either by outright payment or through agricultural loan to be secured on your behalf 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 GOATS | COST PRICE PER GOAT ( | TOTAL COST ( |
| 10 | 13,000 | 130,000 |
SALES OF GOATS
| YEAR | NO. OF ADULT GOATS | MAXI. SALES PRICE PER ADULT GOAT ( | TOTAL REVENUE ( |
| YEAR 1 | 18 | 30,000 | 540,000 |
| YEAR 2 | 20 | 30,000 | 600,000 |
| YEAR 3 | 30 | 30,000 | 900,000 |
| YEAR 4 | 50 | 30,000 | 1,500,000 |
| VALUE OF GOAT REMAINING | 130 | 13,000 | 1,690,000 |
FOUR(4) YEARS INCOME PROJECTION FOR FATTENING AND SALES OF 10 GOATS EVERY 90 DAYS FOR 4 YEARS
BUYING OF GOATS
| NO. OF GOATS | COST PRICE PER GOAT ( | COST OF FATTENING EACH GOAT ( |
| 10 | 13,000 | 6,000 |
SALES OF FATTENED GOATS
| PERIOD | NO. OF ADULT GOATS | MAXI. SALES PRICE PER FATTENED GOAT ( | TOTAL REVENUE ( |
| 48 MONTHS | 160 | 30,000 | 4,800,000 |
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.
NO PRIOR PAYMENT REQUIRED FOR EXPRESSION OF INTEREST.
