Continuing its drive towards impacting Nigeria's real economy, The Alternative Bank (AltBank), has advanced discussions with Federal University of Agriculture, Abeokuta (FUNAAB) and Egypt-based Tulima Farms and Agri-Processing LLC to establish an AI-enabled hydroponic farming ecosystem on the University's campus.
Designed to operate at scale, the project reflects a new generation of smart farming models that combine finance, innovation, and research expertise. By moving cultivation indoors and utilising automated systems, AltBank is investing in assets shielded from the traditional risks of drought and pests. This flagship site in Ogun State is as a scalable blueprint for a nationwide agricultural franchise, aimed at driving import substitution by growing exotic vegetables locally that were previously flown into the country.
Abeokuta has emerged as a high-potential investment destination, with FUNAAB identified as a strategic anchor institution due to its robust agricultural research ecosystem, expansive farmlands, innovation-focused centres, and access to skilled human capital. The University's longstanding leadership in agricultural science, enterprise development, and sustainable farming solutions continues to place at the fore of Africa's transition toward technology-enabled agriculture.
The AltBank-led delegation was headed by Ugonwa Ikegwuonu, Head of Agric Finance at The Alternative Bank, who shared strategic insights on the project's rationale and financing logic.
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