Xtralarge Farms has launched a new initiative called Xtralarge Agritech City, where all methods of farming activities and projects will be executed with the aid of advanced technology and machineries.
It is a privately owned company that is into crop and animal farming, investment services and land sales for farming.
At the unveiling ceremony held at the Sheraton Hotel, Lagos, the farm also introduced Nigeria’s first Agriculture Digital Currency known as Xtratoken, meant for exchange of goods and services within the Agritech City.
Chairman and Chief Executive Officer of the farm, Seyi Davids said the proposed technology-driven city would be spread over 3,000 acres of land at the Idi-Iroko axis in Ogun State.
He said the city will harbour universities and schools, travel and tours, homes and properties, natural health centre and micro-finance bank, among others, with a chain of activities cutting across the length and breadth of Nigeria, Africa and the world at large.
“It has become pertinent for us to create a definite identity for ourselves in this Xtralarge family, which is our own fast nation. And as every nation has its own currency with all financial transactions, so also, the Xtratoken is our own currency in the Xtralarge family. As the years go by, we shall be working on possibilities of making it a generally acceptable digital currency for other agric related transactions in the country and beyond.
“The Xtratoken is what the entire Xtralarge group refers to as the generation next. It is the money to be spent within the Agritech City. The city has come with a change of apparel for agriculture in Nigeria and Africa as a whole. A farmer must be able to live well, be successful, live a dignified life and be respected in the society.”
The CEO said the city would be a fully automated organic farm, which will be ready in June 2021, saying that agriculture is the future of Nigeria’s economy and should be made competitive, reason why people under the Xtralarge network came together to empower more people in the food network of the country.
He further stated that the Xtralarge family are people who have keyed into the major packages of Xtralarage Farms, either as members of the Food Network Project or Super Farmers.
“The latter, who invest between N100,000 and N1m into farming without getting physically involved, as the farm carries out all processes from planting to harvest and processing, made 100 per cent returns over 24 months and all of them have been smiling all the way to the bank,” he said.