Investor Presentaiton

50 50 100 150 Plateau's production efficiency trails other Nigerian states leading to higher cost per ton produced Cost of Production Index: NGN per ton, indexed to 100 North Central Plateau 200 ✓ ✓ ◇ LEXXXOO XXXXX Π Ο ΠΟ Yam Cassava Maize Rice Sorghum 100 = 46K 36K 85K 126K 84K NGN/ton Best -76% -60% -46% -42% -25% practice¹ 1. Cheapest producer, cost as a percent of Plateau's Notes: Data unavailable for potato, Fonia, Groundnuts, Cotton, and other crops of current economic value Source: NAERLS, Stakeholder interviews North East/West Other states 100 Plateau = Likely contributing factors: Widespread use of low-quality seeds High price of good quality fertilizers Insufficient roads to connect rural farmers to high-quality seeds & fertilizers Relatively low mechanization rate (tractors, planters, rollers etc.) • Low water supply (e.g. dams) during dry seasons shortens cultivation season - unpredictable yield • Lack of adequate training on best practice farming methods (currently 1 trainer to 5000 farmers) 39 Copyright 2019 by Boston Consulting Group. All rights reserved.

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