A delicious meal prepared from Ofada Rice

How to Start Profitable Rice Farming & Processing
  • How to Get Financial Support from World Bank Sponsored FADAMA Project.
  • How to Get Loan Through for Your Rice Farming & Process Project through BOA/CBN RICE ANCHOR BORROWERS' PROGRAMME

Dear Friend,

I want to congratulate you for being here because, you are about to be exposed to rice farming and processing opportunity. You see, FADAMA Project has been on for a while and a lot of people have benefited from it. The project is World Bank sponsored and it is specifically targeted to empower rice farmers and to ensure that foods are made available for the populace.

It is on record that we import 90% of the rice that we consumed in this country while only 10% is produced by the local farmers. Out of the quantity of rice that is imported to Nigeria, 60% of it is consumed in Lagos alone.

That is one of the reasons FADAMA Project specifically targets Lagos for the rice production and processing support. What FADAMA is giving to rice farmers is a grant and not loan. Grant is a kind of money that is given to support someone for a project and the person does not need to pay back the money. It’s like free money to the person though the person is expected to use the money for what it is specified.

Over the years of giving support to farmers through FADAMA Project, it was realized that some people don’t use the money for what it is meant for, so FADAMA has adopted a method such that the money is not directly put into individuals’ hands. They ensure that farmers that are interested in getting the grants are in groups and they also supervise the project to ensure that the money are used for what it is meant for.

You don’t necessarily need to be an existing or professional farmer to be part of the project, you simply need to have interest to invest and go into rice production and processing. You don’t even need to have prior knowledge as per rice farming because you will be able to gain the technical know-how through the training programme we have for you.

How Profitable Is Rice Production?

Rice production is very profitable. In case of Ofada rice, it matures within 120 days. Below are the inputs you are likely going to need to plant 2 hectares of ofada rice.

  1. Seed cost – N45,000
  2. Fertilizer – N48,000
  3. Orizon (for weed control) N9,000
  4. Roundup- 6litres N39,000
  5. Insecticide  N2,600
  6. Osa Rice (organic fertilizer) – N24,000
  7. Biotamax 20 pack – N30,000
  8. Land Preparation Plus weeding – N40,000
  9. Harrowing and ploughing – N70,000
  10. Planting – N20,000
  11. Spraying labour cost  – N15,000
  12. Bird Scaring  – N80,000
  13. Harvest and processing – N60,000
  14. Others  – N32,400

Total N515,000

2 hectares of ofada will gives you at least 5 tonnes of harvest.

One tonne of ofada rice in the market is about N400,000.00 (four hundred thousand naira)

Therefore, 5tonnes will give you N2million which gives you a profit of about N1.5 million at the end of the day. You can see how profitable rice production can be. That is just selling the paddy rice. There is potential of making more profit when the rice is processed.

Why You Need The FADAMA Support

Rice production is capital intensive as you can see from the calculation above. But FADAMA Project’s intention is to help most farmers to get started by taking care of 30% to 100%  of the inputs needed for the rice cultivation. And since it is a grant and not a loan, it is believed that most farmers will be encouraged to go into rice production and processing.

On Thursday, 8th October, 2015 at one of our monthly programme tagged MeritChoice ProfitReloaded Summit, October 2015 Edition, we invited the FADAMA Project Co-ordinator, who was represented by Mr. Dapo Olakulehin who was the then Director for Training and Technical Assistance to give us more insight about the FADAMA rice farming project and how we could be part of it.

For deeper understanding about the project, I encourage you to go through the video. Due to some technical issue, the visual of the video was not well captured but the audio is okay. You should get the explanation of the project by listening to the audio.


How Does FADAMA Project for Rice Production & Processing Work?

There are two types of rice value chain you can belong to with the FADAMA project;

  1. Rice Production
  2. Rice Processing

FADAMA expects that the rice farmers should form groups. Each group is expected to have minimum of ten (10) members and maximum of fifteen (15) members. The groups can also come together to form what is known as a CLUSTER.

The cluster is expected to have maximum of 15 groups, if each group has about 10 members or 10 groups, if each group has about 15 members. It means a cluster can only have maximum of 150 members.

A group can decide to go into rice production or processing but no group can do both at the same time.

For a formed cluster, there will be a main cooperative society which all the group members must belong to. Then, each group is expected to form what we called Cooperative Agricultural Multipurpose Society (CAMS). The CAMS is to be registered with the Lagos State Ministry of Commerce, Industry and Cooperative. With the registration, a certificate will be issued to each group which will be used to open bank account and to process the grant with FADAMA Project.

Each group is expected to have a Business Plan. But it is not difficult to come up with one because FADAMA will also assign each group with a supervisor who will give guideline of everything the group is expected to do.

Each group will have three executives, the President, Secretary and Treasurer who will always be available to represent the group. There will be overall executives for the cluster. The reason why the cluster is necessary is because there may be a major project that all the groups want to embark on, at that point, the certificate of the cluster’s cooperative which is like the mother for all the CAMS will be used.

Examples of major projects may be digging of borehole that has capacity to serve all the groups or construction of road that can benefit all the groups.

After the business plan has been approved, the members of each group are expected to contribute 30% of the amount needed to execute the project as stated in the business plan. The money is paid into the bank account that is opened with the CAMS certificate and then, FADAMA will also pay its own 70% or any percentage as agreed into the same CAMS bank account for the commencement of the project.

For example, let us say you need N250,000.00 to farm one hectare of land, you are expected to contribute about N75,000.00 while FADAMA provides you with the balance of N175,000.00.

Money needed for the inputs of the farm may often be authorized by the two members of the executive of the group depending of what a group’s mandate is with the approval of FADAMA supervisor. All these are put in place to ensure credibility and make sure that the project is not jeopardized by selfish manipulation of some individuals.

Getting started with FADAMA Project is a very long process but, fortunately for you, we have be worked through some of the processes and you can just become part and benefit from the project. There are things you need to do to be part of FADAMA Project.

  1. You need to belong to the Cluster’s Cooperative – We already have a cluster cooperative with certificate known as MeritChoice Cooperative Multipurpose Society Ltd.
  2. You need to be a member of CAMS – In our own case, we have adopted 15 members per group and we have about 10 CAMS groups registered already with certificates remaining.
  3. You need to get a land with your other cooperative members for planting the rice. The land can be yours or leased – We have a place we are leasing land for the rice farming in Ogun State.
  4. You are also expected to be able to contribute 30% of the amount needed for the rice production or processing based on the Business Plan your group eventually came up with.

Turning Rice Production & Processing Into A Long Time Business Opportunity

Our aim with this project is not just to get involved one time with the FADAMA Project but we have a group that want to ensure that we continuously involved in the agribusiness of rice production and processing even after FADAMA Project financial supports might have stopped.

We therefore mandate it that everyone that wants to be part of the project should also be a member of MeritChoice Entrepreneurs’ Network (MENET). MENET has an Agric Forum and other helpful forums for those that are interested in entrepreneurship. Therefore with MENET, you will have a platform that can help you greatly to move forward in your business.

As a member of MENET, you will have access to our membership site at http://menet.link, you will be part of our other online platforms like WhatsApp and you will be able to participate in our other physical meetings.

Are you ready to be part of us? Do you want to really make something worthwhile from this rice project, then, you need to be part of our entrepreneurial network. Please note that the network is not MLM, it is a connecting network for those that are interested in entrepreneurship and for existing entrepreneurs that wants to take their business to the next level. We engage in different profitable and legal businesses like this rice production and processing.

Here are some of the pictures of the CAMS certificates we presently have which we enable us to participate in the FADAMA Project:

How to Get Loan for Your Rice Farming & Process Project through BOA/CBN RICE ANCHOR BORROWERS’ PROGRAMME

Another financial means that our group is still pursuing through MENET is the soft loan from CBN through its collaboration with Bank of Agriculture (BOA).

Presently, we are combining with an organisation and some of our members will be access fund that will enable us to plant about one to five hectares. The plan is ongoing. There is need for us to register with BOA as a cooperative and to submit all the necessary document.

We have started this too and the information is also available on our site at http://menet.link for members that are interested in this too.

That is not all. We have other plans and programmes that we keep taking advantage of as agropreneurs.

We also have a farm estate that we are developing at Ogun State which we called MeritChoice Agric Villa. When you become part of us, you will have opportunity to come to the villa to get real practical training on rice production and processing. This is one important knowledge you will need to apply at your rice farm.

Below is what you need to do to be part of the FADAMA Project, via MeritChoice Entrepreneurs’ Network (MENET). (Please, note that the condition to be part of CBN loan is different from that of FADAMA. They are not the same thing. When you join MENET, you will have access to different information about the available opportunities.)

1.Join the MeritChoice Cooperative Multipurpose Society Limited – The Cluster’s Cooperative (N1,000.00 for form, N5,000.00 for developmental fee – One lifetime payment)6,000.00
2.Join the MeritChoice Entrepreneurs’ Network (MENET) – One lifetime payment5,000.00
3.Get allocated to one of our FADAMA Groups
(Your contribution for the registration of the CAMS of your group with Lagos State Ministry of Commerce, Industry and Cooperative is N4,000.00 - one lifetime payment)
4.Training on Rice Farming with Practical Visit to Rice Farm (Including training CD)10,000.00

Conditions to Be A Member Of The Processing Group

There are some few conditions to be a member of the Processing Group. It is not available for everybody. The processing group is designed for youth between the age of 18 to 35 years. We can also have all women group too. In that case, the group only consist of women. They too can be part of processing group.

The Processing Group can provide rice processing service to the production groups. They take the product and help with the processing of the rice. They make their money providing the processing services. They are also going to be supported by FADAMA to get the necessary machinery to start the processing work.

Make Payment Today To Be Part of The Project
If you are sincerely interested to be part of this project, it is advisable that you make payment today. As we are about starting another season of planting and the earlier the better. Immediately we receive your better, we will put you in a group and you can start relating with your group members to start your project with FADAMA support.

We may also not be able to take in a lot of people as we have targeted number of people that If you delay, the opportunity may get close up against you. As you are reading this page now, several persons are also reading it and taking action.

Don’t hesitate to be part of this immediately.

To make your payment, use the button below to pay online.

 N25, 050.00

Please, note that the 50 naira added to the money is for government stamp duty.

If you will like to make payment through bank, you can use any of our bank account below:


Zenith Bank
Account Name: MeritChoice Limited
Account Number: ########## (contact Us for details)


Account Name: MeritChoice Limited
Account Number: ########## (contact-us for details)
Your Payment Code is: FADAMApro
After payment send SMS notification to 07055333000 in this format:

PAID * Name * Email * Amount Paid * Date of Payment * Teller Number * Payment Code * Name of Bank


I believe this is one of the best opportunities you can get involved with especially at this time when a lot of things are happening and naira-dollar exchange rate is something else. Now, you need more than one source of income to be able to make ends meet.

Get in right away and let us take advantage of this “free money” and opportunities to give ourselves a leap.

 In case you will still like to speak with us as per the programme, you can do that by calling any of these our phone line:

+234 802 709 7030, +234 706 614 2229, +234 815 131 8447, +234 909 990 5352.

You can also send email to us at admin@fastecash.com

Do not hesitate to make your payment right away and be part of this lifetime opportunity.

Yours in Agribusiness,


      Project Co-ordinator