Agriculture is an important sector in all economies of the world, and in Nigeria, before the discovery of patrol, it was the key sector. But the discovery of black oil in commercial quantity, our government withdrew her interest in agriculture and gave 100% attention to oil money.
Nigerians followed their government to fight for oil money and automatically view agriculture as a business for the rural people who are not schooled or without university certificate.
The mentality of “Farming is for the illiterate” has caused tremendous damage to the Nigerian economy as Nigeria who was one time a go-to buy Agricultural products country now import most of the food she consumed. It is a crying shame to see people go to bed every night hungry due to lack of food.
The government of Nigeria and it citizens now realize the mistake of abandoning agriculture to follow oil drilling which seems to be worthless in the current global market as technologically advanced countries are trying to adopt the usage of solar energy to power their machines and then demand petrol in small quantity.
Recently, around 2015, when Muhammed Buhari became the president of the country(Nigeria) him brought out strategies to boost food production in Nigeria but as usual practical steps were not taken to execute some his project across the 36 states of the nation, rice production has increased but yet to meet domestic demand of 5.3million metric tonnes per annual.
With lip singing polices postulate by the government, Nigerians are now ready to venture into farming part-time and some full time but majority face challenges such as none availability of farmland, funds, and the required know-how knowledge to manager farms effectively, and profitably.
Those who are interested in venturing into farming as an additional source of income aside their normal monthly job are willing and ready to invest into someone who can manage their funds professionally and profitably, here is the aspect this article is written to address today.
A few years back, Ponzi scheme operators were using Bitcoin, Forex, Real Estate and other investment options to loomed financially illiterate people off their hard-earned money in the name of creating another source of income for them.
These Ponzi scheme operators usually use words spoken by world greatest investors like Waren Buffett, to confuse the masses and skillfully scam their money. Quotes like, “If you don’t find a way to make money while you sleep, you will work till you die” have been used on several occasions by swindlers to intentionally siphoned intended agricultural investors off their cash.
Robert Kiyosaki once remarked that “In my opinion, one reason millions of people lose trillions of dollars is because they are looking for easy answers as to where to invest their money”. Know that investment is not about finding an easy project to commit your money into, investment is clearly understanding how your money will be protected and be able to earn reasonable returns consistently for you.
Get rich quick mentality have made millions of people to lose zillions of dollars online/offline by patronizing Ponzi Scheme. I am one among those who once patronize some professionally designed online Ponzi scheme a few years back. The get rich quick spirit was in me 100%, I wanted to get rich quick without working hard myself.
Few years (2018) ago, a social media friend who was interested in investing in agriculture shared her encounter with some internet farmers using chicanery act to swindle her cash off. According to her narration, she is based in Lagos and have no farmland of her own but ready to learn things she needs to know about farming.
So that after acquiring little knowledge, she will confidently pay for farmland in a rural settlement and start her farming activities full time. While she was still in Lagos enjoying the idleness in township people, she decided to browse the internet for a farm close to her house so she can learn the practical aspect of farming.
She stumbled on a well professionally designed agricultural Ponzi scheme website that promise to pay over 45% return on investment(ROI) on capital invested every month.
As a sharp lady who was willing to learn practical agriculture asked if she can come and learn from their farm by working for FREE and possibly invest her money into their projects. These Ponzi scheme operators without a physical farm asked her to pay some money call “Farm Tour Fee”.
Farm Tour Fee? They ended the phone call because she was asking too many intelligent questions, they knew she has sense and love her limited funds to work for her while she sleeps but was extra careful.
I know you’re interested in agriculture;
I know you do not have farmland or space to rear animals in your compound.
Your daily job or area of specialization won’t permit you to divert fulltime into agriculture. But I have good news for you, Agriculture is no longer limited to cultivation of land and rearing of animals like you were taught in school, those who rear animals and cultivate land are only practising a section in Agriculture.
A little value addition to some farm produces have the potential of generating millions into your bank account monthly. Agriculture is not a digital business; it is a practical offline business and should be confused with other businesses.
If you love your money, visit those agricultural investment scheme operator’s farms physically before making the financial commitment.
If you are too busy to meet those internet farmers who sit behind their keyboard and promise you 60% ROI monthly without working, then keep your savings account loaded with idle cash; the bank manager knows what to do with it.
The internet is here to facilitate our business activities not to blind our sight or brainwash our sense of reasoning. If you MUST hand over your hard-earned cash to an online stranger to double it for you, check their reputation and have their details too.
“Usurious rates of return are deceitful sirens that sing but to lure the unwary upon the rocks of loss and remorse”-George Clason
How Does Agricultural Ponzi Scheme Work?
Ponzi scheme operators usually are not into serious business of selling a product or rendering a service, all they do is collect money from the financial illiterate general public, keep some for themselves and repay early entrants.
Ponzi scheme operates differently and they are constantly revolving their mode of operation to swindle more financially illiterate people who are in a quest for an easy way of making extra income into their planned scheme.
Is not difficult to spot agricultural Ponzi schemesters because our business MUST be practical on the field, agriculture isn’t a digital business like Forex trading and cryptocurrency. It, therefore, means, before handover your money to unknown farmers in the name of earning 45% ROI monthly, insist on visiting their farms for inspection and possible see their past financial records.
In the book “Who Took Money” author Robert Kiyosaki asserts that, “To naively hand over your money to very rich strangers and not know what they are doing with your money is foolish”. Is wise you know how those people are doing to make money to be able to keep to their promises of consistently paying you 45% monthly.
In Agribusiness, is either you are selling livestock, crops/vegetables, seeds, farming inputs, and others. The crux is you MUST be selling a physical product to someone to be able to make a reasonable amount of money, run the business and finally settle your investors as at when due without a long story.
It is important to know what those internet farmers who pledged high returns are selling to make more money, know who is buying from then and if possible at what price, for it is your responsibility as an investor to know how your money is working to generate more money.
Protect Your Capital…