Keno Okaruefe: Integrated Farming Attracts Multiple Streams of Income

From bagging an Electrical/Electronics Degree from the prestigious University of Leicester, United Kingdom, Keno Okaruefe, returned to Nigeria to grow a passion that has evolved into a viable agricultural venture. His passion for agricultural engineering, combined with his extensive knowledge of agricultural economics, led to the creation of SRK Farms and Produce. With Property Farmer, his real estate venture he has quickly gained recognition as he grows to become a strong force in the Real Estate industry in Nigeria. He discusses his journey with Tosin Clegg

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hat inspired you to pursue integrated farming, and how has the journey been so far?

Honestly, returning to the country in 2012 after several interviews, I couldn’t get a suitable job in my desired field of engineering. So I decided to grow money through agriculture. I started with vegetable planting which had its challenges then tried out poultry with egg production and eventually broilers for meat production then moved to palm for oil, ruminants like goats and rams but eventually went back to crops like cassava and pepper. The journey truly has not been a fairy tale and most growth markers have been slow. However, it’s been exciting, thrilling, challenging, and most importantly educating, you need a lot of patience in agriculture and returns are usually long term but in the long run you earn it big, and its worth it.

Can you explain how the different components of your integrated farm such as livestock, crops, and aquaculture work together to create a sustainable system?

Putting all modes of farming together creates an ecosystem of food sustainability. With livestock like ruminants and poultry, you get meat and eggs which gives you protein. With crops such as palm, your retirement is sure considering they produce for 25years while processing cassava to garri settles carbohydrates and starch. Aquaculture settles my love for fish as a Delta man. The target was to make money by serving the market space with vital produce that you find on every table in most homes in the country. 

What are the key benefits of integrated farming over traditional farming methods, both environmentally and economically?

There are several yet important benefits from integrated farming most especially the reduction in food waste and the rotation of use of both produce and waste. For example, the leftover food from the birds can be given to the ruminants, and the manure used as fertilizer for planting. The fact you have all this in one location saves resources and makes it easier to give oversight to all aspects of the business. One of the key benefits of integrated farming is it saves time and allows multiple streams of income.

How do you manage the various elements of your farm to ensure they remain productive and efficient throughout the year?

Without planning, efficiency is never guaranteed. Management visibility in farming is very important, for you to maintain year-round productivity you must be on the ground, plan, and follow the seasons by stocking your inputs and raw materials early, securing them when they are cheap and available while making sure you have detailed data and documentation to aid planning.

What challenges have you faced in maintaining the balance between different farming activities, and how have you overcome them?

One of the major challenges experienced has to do with the diseases and unavailability of genuine medications in the livestock industry. For example, the Avian Influenza affected the poultry sector almost every year from 2015 till date. We adopted a preventive method by focusing strongly on our bio-security. It shouldn’t enter into your farm than looking for a cure after it does. Another challenge is the consistent rise in the cost of commercial feeds and inputs, so we decided to start milling our feeds for both the poultry and the fish. However, the sourcing and cost of individual raw materials hasn’t been all easy but it’s still better and cheaper than the commercial options. You eventually strike a balance between the different farming activities by sectioning and value arrangement.

In your view, how can integrated farming contribute to food security and sustainable agriculture in the future?

Honestly, integrated farming is the way to go because it makes farming more holistic and accessible. You expend less energy and resources while getting more done. It’s sustainable because of its eco drive where one waste can be useful to another aspect and then you end up producing more than one item at the same time. In the future, most farms would depend on integration to be able to sustain cost, maintain space efficiency and run several streams of income all in one location.

What motivated you to enter the real estate industry, and what has been the most rewarding part of your career so far?

Being on the farm mostly and surrounded by vast landscapes and people constantly coming to me to assist them in getting vast land for one thing or the other opened my eyes to the opportunity of creating something from scratch to having large estates and companies set up on empty land. I’ll say this career found me in the most unlikely place and time. In the fullness of time, turned out to be a remarkable venture as I had an eye for prospects and location knowing the right place to buy and studying the trend of development made it very rewarding cause you could buy a vast land for a fair price and make a fortune selling it in bits over time.

How do you create a balance between using land for farming and as well using it for housing?

This is easy as most development for housing starts small on a vast space, so you end up having the opportunity to farm the side yet developed until development catches up and then you move again. Housing and farming go hand in hand and you’ll be surprised how many people who indulge in land banking make residual money from farming those empty lands as well. 

In today’s competitive real estate market, what strategies do you use to stand out and successfully close deals?

My strategy and approach tend toward prospects. I buy prospects by doing my research and being ahead of the pack knowing where development is tending to. Buying virgin lands, bulldozing, developing, and selling in bits. Closing deals has to do with my negotiation skills, doing due diligence, and meeting the right contact in person to make sure we are in the right direction as most things can’t be outsourced in real estate if you want results. Finally, my integrity sets me out of the pack, I try to be as transparent and clear-cut as possible. This makes investors and clients more comfortable and willing to do business with you.

How do you balance the interests of buyers and sellers while ensuring both parties walk away satisfied?

This is a tricky one because it deals largely with interest depending on who you’re representing. The best way to strike a balance is by controlling your greed and being able to manage the expectations of both parties through proper negotiation and follow-up. Don’t always focus on percentages, or adding exorbitant margins and markups which could frustrate the deal. Always make sure everyone is carried along and the deal should sail through first before haggling your cut, remember you are a broker and you’re not buying nor selling.

What are some key trends you’re currently seeing in the real estate market, and how do you adapt your approach to stay ahead?

One of the very obvious trends currently running in the real estate market is the Off Plan Model which most real estate companies are offering. There are a lot of snags and drawbacks around it when you sell a property on off plan and the market forces are not in your favor due to a rise in prices in construction materials, you end up in a fix and legal battles trying to recalibrate and renegotiate your deal with your clients. I go with the conventional and old-school model of buying outright and building to your tastes. With that, you don’t get tied down to lengthy agreements and financial limitations. You have sold and smiled your way to the bank.

Real estate can be a high-stress profession. How do you manage the pressure and stay focused on delivering results for your clients?

Truly you must experience the stress of real estate especially when you’re starting up. Learning from past mistakes and tweaking your approach to certain arrangements such as giving yourself more time when signing property deals and mode of payment would save you from huge stress sourcing the money to pay for large properties. Another approach is going into a joint venture purchase by getting other investors to partner with you and share in the stress ratio, it works every time. You really shouldn’t be offering and doing too much at the same time, always finish one project before jumping into another. That way you cover a lot of ground with less stress though it could be considered a slow and longer route.

What do you believe are the most important qualities that a real estate broker should have to succeed in this field?

As a real estate broker, you must have foresight to see what most people can’t see in the future of properties. You must also garner patience because you need it at times to wait out the process. Proper negotiation and engagement skills are required to strike the balance between clients either buyer or seller and to seal deals. With the exposure of social media, you also need a proper team to package and brand you to set you aside from the rest.

What advice would you give to someone looking to buy their first home or invest in real estate, particularly in today’s market conditions?

Simply don’t be in a hurry to cash out or make quick profits, it’s usually a trap. Also tend to read through every dotted line and agreements. In today’s market ensure not to follow the crowd to invest in esthetic and colorful packages. Sometimes the true deal is in the bush and empty lands. If you can’t buy outright, always look for an already established company with good track records and consistent integrity that won’t cut corners.