Assetrise Limited, in partnership with the Nigerian Society of Engineers (NSE), has commissioned a fully locally fabricated three-tonnes-per-hour palm oil processing mill alongside an integrated ranching system at Palmrich Estate Phase 5 in Ibadan, marking a significant milestone in Nigeria’s drive toward agro-industrialization, food security, and export-oriented growth.
The project represents a practical demonstration of Nigeria’s capacity to deploy indigenous engineering solutions to address long-standing challenges in agricultural productivity and value addition. By combining plantation development, processing infrastructure, livestock management, and logistics within a single estate, the Palmrich Phase 5 initiative introduces a fully integrated agro-real-estate model designed to generate sustainable returns for investors while supporting national economic objectives.
The Nigerian Society of Engineers, Nigeria’s foremost professional engineering body with over six decades of experience, played a central role in the design, fabrication, and installation of the palm oil mill. Through the collaboration, the NSE reinforced its long-standing mandate to promote indigenous engineering capacity, reduce dependence on imported industrial equipment, and strengthen the country’s competitiveness across key productive sectors.
Speaking at the commissioning ceremony, the Vice President (Corporate Services) of the Nigerian Society of Engineers, Dr. Felicia Nnenna Agubata, described the project as a landmark example of engineering-led development. She noted that the mill was conceived, fabricated, and installed entirely by Nigerian engineers, proving that local expertise can deliver world-class agro-processing solutions adapted to Nigeria’s terrain, climate, and production realities.
She further emphasized that the integration of plantation farming, processing, and ranching within a single ecosystem reflects the future of Nigeria’s agricultural transformation—one that is secure, mechanized, technology-driven, and environmentally sustainable.
Assetrise Limited’s Group Managing Director, Mr. Rotimi Ojamamoye, explained that the project aligns with the company’s broader vision of transforming land ownership into productive, income-generating assets. According to him, Palmrich Phase 5 demonstrates how agro-real-estate can unlock long-term wealth creation while positioning Nigeria for self-sufficiency and export competitiveness.
He also highlighted the relevance of the integrated ranching system, particularly in the context of the Federal Government’s policy shift away from open grazing. With ranching now emerging as a national imperative, Palmrich Phase 5 provides a scalable private-sector model that combines livestock management with crop production in a secure and commercially viable framework.
Palmrich Estate Phase 5 has already distinguished itself as one of Nigeria’s most advanced agro-real-estate developments. Oil palm trees within the estate are currently fruiting, with investors receiving scheduled returns, underscoring the viability of the model. The estate is also expanding its nurseries ahead of the 2026 planting season, ensuring continuity of production and long-term scalability.
The newly commissioned palm oil mill captures the full value chain—from harvesting fresh fruit bunches to processing crude palm oil and palm kernel oil, as well as converting by-products into livestock feed and organic fertilizer. This zero-waste approach enhances sustainability while maximizing economic value. It is particularly significant given Nigeria’s palm oil supply gap of nearly one million metric tons annually, a deficit that has driven substantial import bills and foreign exchange outflows.
Beyond crop processing, the integrated ranching system leverages palm kernel cake produced on-site as high-protein feed for livestock, creating a seamless link between agriculture and animal husbandry. This structure not only improves efficiency but also supports Nigeria’s broader food security goals, especially as the country seeks to reduce dependence on imported meat and dairy products.
By uniting indigenous engineering, modern agricultural practices, and structured investment opportunities, the Assetrise–NSE partnership positions Palmrich Phase 5 as a blueprint for scalable agro-industrial development. The model demonstrates how Nigeria can industrialize agriculture locally, create export-ready value chains, and offer investors inflation-resistant, long-term income streams.
As Nigeria intensifies efforts to diversify its economy and strengthen food production systems, projects such as Palmrich Phase 5 highlight the role of private-sector leadership, local expertise, and integrated infrastructure in building a resilient, productive, and globally competitive agricultural sector.
Emmanuel Bassey is a Financial Expert that has worked in the Banking and Finance Industry for over 15+ years across different banks in Nigeria
