The Federal University of Agriculture, Abeokuta (FUNAAB), has further strengthened its reputation as a leading African hub for global agricultural innovation as it advanced high-level discussions with Sterling Financial Holdings Company Plc (‘Sterling HoldCo’) and Egypt-based Tulima Farms and Agri-Processing LLC on the establishment of an AI-enabled hydroponic farming ecosystem on campus.
The initiative, spearheaded by Sterling HoldCo’s subsidiary, The Alternative Bank (‘AltBank’), is conceived as a commercially viable, technology-driven agricultural venture integrating Artificial Intelligence with precision hydroponic systems to cultivate select exotic vegetables and staple crops under climate-controlled conditions. Designed to operate at scale, the project reflects a new generation of smart farming models that combine finance, innovation, and research expertise.
Abeokuta has been identified as a high-potential investment destination, with FUNAAB recognised as a strategic anchor institution due to its robust agricultural research ecosystem, expansive farmlands, innovation-driven centres, and access to highly skilled human capital. The University’s longstanding leadership in agricultural science, enterprise development, and sustainable farming solutions places it at the forefront of Africa’s transition towards technology-enabled agriculture.
Welcoming the delegation, the Vice-Chancellor, Prof. Babatunde Kehinde, affirmed the University’s readiness to host and drive the partnership, emphasising that FUNAAB possesses the institutional capacity, technical depth, and enabling infrastructure required to successfully launch and sustain the project. He reiterated the University’s commitment to fostering impactful industry collaborations capable of delivering measurable economic and developmental outcomes.
The proposed AI-enabled hydroponic initiative is in sync with broader efforts to strengthen food systems through import substitution, year-round productivity, and enhanced climate resilience. By leveraging data-driven nutrient management, optimised water use, and controlled-environment agriculture, the project aims to ensure consistent high yields while minimising resource waste. Beyond boosting domestic food production, the initiative is expected to contribute significantly to agribusiness growth, job creation, and economic diversification, while serving as a scalable model for smart agriculture across the African continent.
As part of the technical and commercial due diligence process, the joint team undertook site inspections within the University to assess infrastructure availability, climatic suitability, and preliminary water and soil nutrient profiling.
The engagement provided an opportunity to review identified locations, align operational expectations, and advance discussions towards a structured and mutually beneficial partnership framework.
Mrs. Ugonwa Ikegwuonu, Head of Agric Finance at The Alternative Bank led the delegation and provided strategic insights into the rationale behind the project. Mr. Mohamed Salama, Founder/CEO, Tulima Farms, Cairo, Egypt delivered a comprehensive technical presentation outlining the production model, investment structure, operational framework, and proposed risk-sharing architecture. He underscored the importance of constituting a cross-functional University team comprising experts in agriculture, engineering, research, infrastructure, and enterprise development to deepen technical collaboration and accelerate implementation.
Meanwhile, Tulima Farms and Agri-Processing LLC is internationally reputed for its sustainable, high-tech indoor farming systems, utilising climate-controlled greenhouses and modular container farms to produce pesticide-free, nutrient-dense crops within an integrated farm-to-table value chain. The delegation’s tour of FUNAAB’s Automated Greenhouse facility, Musarchy Farms, and the Centre of Excellence in Agricultural Development and Sustainable Environment (CEADESE) experiential farms further demonstrated the University’s preparedness to host advanced agricultural technologies and scale commercially viable agribusiness ventures.
Senior University officials present at the meeting included the Registrar, Dr. Titus Adeniyi; the Bursar, Mr. Olukayode Osinuga; the Director, CEADESE, Prof. Adeboye Fafiolu; the Acting Director, Directorate of Research, Innovations and Partnerships (DRIP), Dr. Oluwagbemiga Adeleye; the Principal Assistant Registrar, Vice-Chancellor’s Office, Mr. Adekunle Adebiyi, and the University Legal Officer, Mrs. Olanrewaju Tanimowo. They were joined by Dr. Hatem Elmedalaa, the resident Agronomy Consultant in Tulima Farms, among others.
With this prospective partnership, FUNAAB is reinforcing its global outlook and strategic commitment to integrating finance, research excellence, and emerging technologies in building resilient and sustainable food systems for Africa and beyond.
