I just saw this ad on TV: a company is offering 40% returns to investors in 6 months. The alleged opportunity is rice. They want to work with 700 groups of 250 farmers on 2 hectares each, starting in Kebbi State. That’s 3,500 square km of land, ie 10% of Kebbi’s land mass...
... but ok. Let’s supose they can miraculously get control over that many people and that much land. The next step, they say, is to get the farmers to grow rice twice a year. Where is the water needed to farm 10% of Kebbi State’s land mass? No clue. But no worries guy...
... because the farms are going to produce 6 tons of rice per hectare, and sell that rice at 13,000 per bag. Though somehow in the same breath, the company also talks about bringing rice prices down to as low as 8,000 naira per bag. Which is it, folks? 8 or 13?
For all the haters & disbelievers out there, this is a direct quote from their website: “The model is market-led, technology-driven and greatly de-risked through an unbroken chain of efficiency from farm to table with full insurance coverage at every step of the value chain.” 🌚
PS apparently you invest 265k per acre (about 655k per hectare). You can invest any time of year regardless of what’s going on in the season and they will pay you out at the end of 6 months. 🤔
Ok, all done trolling now! 👹
Happy Hump Day everyone 🤗🤗
Ok, all done trolling now! 👹
Happy Hump Day everyone 🤗🤗
