By Jide Akinseye
As Nigeria intensifies efforts toward economic diversification and sustainable food production, stakeholders in the agricultural sector are increasingly positioning oil palm cultivation as a strategic investment capable of driving wealth creation, employment, and national development.
An oil palm investment company, Reftop Agrofield Limited, has called on Nigerians to invest in oil palm cultivation, describing the sector as a critical catalyst for economic growth, job creation, and industrial expansion.
The firm stated that increased participation in oil palm investment would not only provide financial returns for individuals but also help reduce Nigeria’s dependence on imported agricultural products while boosting local production capacity.
The call was made during the official allocation of lands to subscribers of Palm Crest Phase I, an oil palm investment initiative managed by Reftop Agrofield Limited.
According to the company, the 1,500-acre project attracted more than 700 investors shortly after its launch, underscoring the growing confidence of Nigerians in agriculture as a dependable and profitable investment destination.
Speaking during the allocation ceremony, the Managing Director of the company, Dr. David Assogba, said investment in oil palm guarantees long-term financial benefits while contributing significantly to food security and industrial development.
He explained that expanding similar agricultural projects across Nigeria could play a major role in reducing unemployment and improving the standard of living in rural communities.
Assogba described the success recorded by the Palm Crest initiative as a clear indication that Nigerians are beginning to recognise the immense economic opportunities inherent in agriculture, especially oil palm production, which he noted remains one of the most profitable agricultural ventures because of its broad industrial applications and stable market demand.
He disclosed that Palm Crest Phase I, which commenced in March 2025, sold out by August 2025 after attracting over 700 subscribers. Building on the success of the first phase, the company launched Palm Crest Phase II, which covered 3,700 acres and attracted about 1,400 subscribers before selling out in February 2026.
According to him, both phases collectively account for more than 5,200 acres and over 2,100 investors, making Palm Crest one of Nigeria’s fastest-growing agro-real estate investment projects.
Assogba further revealed that 168 subscribers were allocated 300 acres during the latest allocation exercise under Palm Crest Phase I, while total sales for the estate reached 1,380 acres out of the available 1,500 acres.
He clarified that although Palm Crest is marketed by Reftop Homes Limited, the project is fully managed by Reftop Agrofield Limited, a subsidiary of Reftop Holdings.
The managing director added that the company, incorporated in 2025, specialises in agricultural investment, farm development, and agro-consulting services, with strong emphasis on oil palm cultivation and sustainable farming practices.
Industry observers believe that increased private sector participation in oil palm cultivation could help Nigeria reclaim its position as a leading global producer while enhancing food sufficiency, export earnings, and agro-industrial growth.
