Proven Financial Services Ltd has announced plans to raise N600 million through a private placement in the capital market to fund its agribusiness expansion. The company, which owns 300 acres of land in Yewa, Ogun State, aims to boost food production, support farmers, and establish an agricultural university.
Speaking at a briefing in Abeokuta, the Group Managing Director of Proven Financial Services, Olufemi Ogbiyele, outlined the firm’s strategy for raising capital. He disclosed that the company would sell equity, alongside 300 plots of land, to generate N900 million. Additionally, the company’s directors would contribute N70 million collectively, while other investors, business partners, and stakeholders would be invited to participate in the project.
Ogbiyele emphasized Proven Financial Services’ commitment to supporting Nigeria’s agricultural sector by empowering 250,000 farmers nationwide. The initiative will provide farmers with essential inputs and skills training, ensuring they can engage in profitable and sustainable farming.
A key part of the company’s vision is the establishment of Agribusiness University, Yewa (AUY), scheduled to commence operations in early 2026. Unlike traditional universities that focus on theoretical learning, AUY will prioritize hands-on training through its Agribusiness University Farm City. Students will actively participate in large-scale farming, agribusiness management, and food processing while earning an income as they learn.
“Agriculture is the backbone of Nigeria’s economy, yet it remains largely untapped due to a lack of skilled manpower and innovation. AUY will change this by developing agripreneurs who are ready to drive the sector forward,” Ogbiyele stated.
Beyond agriculture, Proven Financial Services is also investing in real estate to address Nigeria’s significant housing deficit. The firm is developing a 60,000-unit housing estate as part of its broader mission to provide affordable homes. According to the Federal Mortgage Bank, Nigeria has a housing deficit of over 28 million units, highlighting the urgent need for more developments.
Ogbiyele referenced the Federal Government’s housing initiative, which proposes voluntary monthly contributions of N5,000 from at least 10% of Nigeria’s population to fund affordable housing. He noted that Proven Financial Services’ real estate initiative aligns with this vision, offering housing solutions for different income groups.
The Chairman of Proven Financial Services Ltd, Dr. Kenneth Anadu, reaffirmed the company’s goal of making agriculture appealing to young Nigerians, creating opportunities for self-employment and wealth generation. He stressed that the firm’s integrated approach—combining agribusiness, education, and real estate—would deliver long-term economic benefits.
Dr. Akinpelu Sogunle, a director at the firm, added that Proven Financial Services was determined to redefine agribusiness by providing real value across multiple sectors. He emphasized that the company’s initiatives were designed to be sustainable, profitable, and beneficial to Nigeria’s economy.
With its ambitious plans, Proven Financial Services is positioning itself as a key player in Nigeria’s agribusiness and real estate sectors, driving economic growth through strategic investments
