How ‘Middle Class’ Youth Can Help Finance Agriculture Charity Style Youth = 18- 35 1. Form a group of 10 youth with average annual net income of 2 million naira 2. Every member contributes 100k, totaling 1 Million Naira 3. Find a youth (preferably educated) who is interested in farming and already has access to arable land (a land where she can farm without any harassment for a minimum of years) 4. The farmer in (3 above) must display adequate knowledge of the kind of farming she wants to go into 5. Having satisfied your requirements (which should not be too discouraging), have an agreement with her and invest 900k in her. (To ensure she doesn’t take the money and run away to the United Kingdom…. I confess I don’t have a perfect answer for that, you may help with that in the comment section) 6. Before fund is released, the farmer will be required to demonstrate how she plans to make 600k net profit from the farm every year. (In Osun, I’m led to believe, by all the young farmers I talked to, that one can make a profit of up to 800k on an investment of 1M in crop farming the first year. But let’s not be too optimistic ) 7. From the second year on, the farmer will agree that half of her profit will go to the investors (that is a minimum of 300k will be paid as dividend to the investors every year). The farmer will retain the remaining 50%. 8. The contract may be dissolved after the farmer has paid a dividend of a minimum of 3 Million naira to the investors. With a serious farmer, this could be achieved within 4 years. The farmer becomes the full owner of her farmer from then on. 9. This of course is charity style of investment, the aim is strictly to empower fellow youth in a self-sustaining manner. However, to ensure that the young investors don’t get tired of investing, each investor should be assured of getting their money back within five years along with a ‘chikini’ profit. 10. You have a question? What happens to the remaining 100k from the initial contribution of 1M? That will likely go into documentation, agreement and other lawyer stuff. 11. Finally, we all preach self-employment and stuff, and complain about young people looking for salary work etcetera etcetera, what don’t we frigging put our foot where our mouth is and invest in fellow young people? 12. We can also talk about how middle class youth can help finance agriculture in a strictly business style. 13. Let’s talk! cc: Olapeju, Omeje, Folabi, Zaharat Adebayo, Dat Iwo-Boi, Fowora, Olabisi, Muhibb, Roji Nasiru
Posted on: Fri, 05 Sep 2014 08:27:33 +0000