…to raise $100bn worth agricultural productivity

By Gabriel Ewepu, Abuja

AS farmers continue to grapple with several challenges to feed over 200 million mouths in Nigeria, a farmers’ group, Nigeria Farmers Group, and Cooperative Society, NFGCS, Thursday, unveiled a solution to agricultural financing called ‘Agbatoken’.

During a pre-launch press conference organized by NFGCS Farm Estate in Ga’ate, Kokona Local Government Area of Nasarawa State, the Managing Partner, NFGCS Farm Estate, and Chief Executive Officer, CEO, Agbadovolution Technologies Limited, Retson Tedheke, in his speech, explained that the essence of the Agbatoken is to help farmers have enough finance to drive food security, self-sufficiency, job creation for youth, wealth creation, exports, foreign exchange generation and reduction of hunger in the land.

Tedheke also stated that the Agbatoken solution to agric financing is a local initiative and creation by his company to help smallholder and large-scale farmers including investors, processors and marketers, including de-risking the agricultural space.

Therefore, he called on both government and private organisations including companies, cooperatives, communities and religious organisations to key into the initiative to drive hunger and crime out of Nigeria.

According to him, in 2017, he started the NFGCS it has been one battle or the other, but with Agbatoken such challenges will be taken care of, and he added that there are periods of ‘Buy and Hold, BAH, which are Bronze, Silver, Gold Premium, and Buy and Use got those who will have a stake in AGBATOKEN. The Bronze is a three-month holding plan, which is a short-term commitment of three months, whereby the holder has rights and privileges, basic voting rights in governance decisions, access to periodic projects, usage, buy and hold for staking holding purposes; Silver is for a six-month holding plan that enables the holder to have a mid-term commitment of six months and enjoys rights and privileges, enhanced voting rights in governance decisions, priority access to exclusive events and updates, and usage, buy and hold for stakeholding purposes.

Others are Gold, which is a period of 12 months; long-term commitment of 12 months, rights and privileges, comprehensive voting rights, influencing critical project decisions, exclusive access to premium events, webinars, and industry insights, and usage, buy and hold for stakeholding purposes; Premium is for five to 10 years holding plan; extend commitment ranging from five to 10 years; rights and privileges, maximum voting influence, directly shaping the strategic direction, VIP access to all events, including private consultations with NFGSC Farm leadership, and usage, buy and hold for long-term investment strategies; and the Buy and Use plan, which stakeholders can leverage AGBATOKEN not only for investment but also for direct utilization in purchasing, fostering a seamless connection between the token and tangible goods such as food.

Meanwhile, he pointed out the objective and benefits of AGBATOKEN, which include enhanced funding; AGBATOKEN basically leverages blockchain technology to unlock diverse funding sources for long-term sustainable agriculture that can also make agricultural financing cheaper, providing farmers with access to decentralized and transparent capital, empowering them to invest in their operations, expand their businesses, and achieve long-term growth.

Expansion opportunities; through tokenization, ABATOKEN facilitates liquidity and enables NFGSC Farm Estate to reach untapped markets. By digitalizing farm assets into tokenized, traceable, and tradeable virtual assets; the Evolution of agricultural practices, where AGBATOKEN is out to incentivize sustainable agricultural practices by empowering holders of the token to actively participate in decision-making processes.

In addition, it benefits the holder beyond financial gains, which promotes a productivity-driven transparent, sustainable, and inclusive ecosystem, and brings about transparent agricultural financing by digitalizing farm assets and making them build trust as token holders, farmers, and other stakeholders.

He said, “Today marks a pivotal moment in the history of Nigeria Farmers Group and Cooperative Society, NFGCS, Farm Estate and of agricultural financing. The foundation for real food security is in real investments in agricultural productivity.

“As we gather here today, united in our battle, and commitment to food security, socio-stability, and technological innovation, we stand on the precipice of a transformative shift that will shape the future of farming for generations to come in Nigeria, Africa, and the world.

“We are proud to announce that Agbadovolution Technologies Limited with a strong belief in the power of technology to drive positive change is buying a major stake at NFGCS Farm Estate with a current worth of about N15 billion ($10 million) while sitting on over 1,000 hectares of land and starting from a humble beginning. Has strived to push the boundaries of what is possible, explore new frontiers, and created solutions that have made a real difference in people’s lives in Nasarawa State and Nigeria.

“The potential to generate $100 billion worth of agricultural productivity in the next 24 to 36 months is possible.

“Agbatoken Technologies Limited is therefore proud to announce that we are taking our commitment to agricultural productivity innovation to new heights with the launch of AGBATOKEN in collaboration with Ahozia Technologies using the assets of the NFGCS Farm Estate.

“AGBATOKE represents more than just a digital currency; it is a symbol of hope, a beacon of progress, and a catalyst for change powered by Blockchain Technology. By tokenizing assets of NFGCS Farm Estate now and many others in the future, we are unlocking the full potential of untapped agricultural assets, making them more accessible, more valuable, and more sustainable.”

However, he made it clear that “Agbatoken is not just about finance; it is about empowerment. It is about giving farmers the tools they need to succeed, the resources they need to thrive, and the opportunity they need to build a better future for themselves, and families and communities.”

Meanwhile, the NFGSC boss expressed hope and optimism about the positive impact the Agbatoken solution will bring into food production which projects over $1 billion in one decade based on the partnership.

He also disclosed that Agbatoken will pioneer a new era of agricultural finance that will use Farm Estates, agricultural hubs, RUGAs, and agricultural cooperatives nationwide to support governments in providing food security solutions using innovative technology solutions, one that is built on transparency, sustainability, and inclusivity.

He maintained that “Agricultural productivity is still the ultimate solution to a lasting overall national economic stability, food security, national security, political stability and viability, and socio-cultural integration.

“For Nigeria to work, Nigeria must farm and process what we plant. This is what Agbadovolution Technologies and Agbatoken is going to do and answer the Nigeria, Africa, and global food security questions. ”