Unicorn Holding, now a prominent group, began its journey with the founding of Ayo Mayomi & Company on March 20, 1990, by Dr. Ayodeji Fred Mafikuyomi, a Fellow of the Chartered Institute of Directors and Fellow of the Certified Institute of Auctioneers. The company initially focused on estate agency services, catering to both individuals and corporate bodies.
Its success in the real estate sector laid the groundwork for the establishment of Unicorn Group in 2006. As Dr. Mafikuyomi explains, the vision for Unicorn was to bridge gaps within the real estate industry while creating opportunities for new businesses.
Expanding Horizons: The Unicorn Group
Today, Unicorn Group has grown to encompass a diverse range of businesses, with 16 companies under its umbrella. These include Mayomi Enterprises Limited, White Rhino Construction Technology Limited, Unicorn AgroTech (The Tractor and Farm Assemblage plant), Karakata Family Business Limited (an e-commerce company), Unicorn Auctions Limited, which offers auctioneering services to corporate bodies and government agencies, Hungry Man Restaurant Limited; Rhino Waters, an industrial water and host of others.
In a significant development, Unicorn has recently obtained a license as a mega distributor of Dangote products, further strengthening its business portfolio. This milestone positions the company as a major player in Nigeria’s fast-moving consumer goods sector, enhancing its influence in both agriculture and industrial distribution.
While Unicorn itself is focused on real estate development, Dr. Mafikuyomi has also expanded into other critical sectors, especially agriculture, as part of the company’s broader strategy to diversify and invest in Nigeria’s future.
Among its flagship projects, Unicorn AgroTech stands out. Located on the Lagos-Ibadan Expressway, the project aims to tackle Nigeria’s food security challenges by assembling tractors for local farmers.
According to Dr. Mafikuyomi, who holds degrees in Law, History, and International Diplomacy from Lagos State University, as well as an MBA from Business School Netherlands and an Honorary Doctorate of Business from Commonwealth University, Belize, South America, the goal is to equip Nigerian farmers with the necessary tools to scale their operations and enhance productivity. The vision is not just to meet local demand but also to position Nigeria as a major exporter of agricultural products.
Transforming the Agricultural Landscape
The agricultural focus of Unicorn is driven by a recognition of Nigeria’s vast potential in food production. Dr. Mafikuyomi emphasizes the need to modernize farming techniques, especially in the southwest, which has significant arable land. Unicorn’s goal is to help farmers move beyond traditional methods of subsistence farming to more industrialized techniques, utilizing mechanical equipment and other advanced machinery.
“Our mission with Unicorn AgroTech is to empower farmers. With the right equipment and technology, a single farmer can significantly impact food production. Our goal is to ensure that Nigeria becomes self-sufficient in food production, moving away from reliance on imports,” he explained.
“Furthermore, Unicorn aims to support food security through greenhouse farming and other innovations, enabling farmers to produce crops year-round despite seasonal challenges,” he added.
Addressing Challenges
Despite these ambitious goals, the company faces challenges, particularly in navigating government regulations. The agricultural sector in Nigeria is not heavily regulated, leaving farmers to rely on their own research and decisions.
Dr. Mafikuyomi highlights that policies on crop production and exportation are often lacking, making it difficult for farmers to predict demand and secure sustainable markets.
“The volatility of agricultural markets also poses a significant challenge. For example, seasonal fluctuations in supply and demand can lead to excess produce that cannot be sold or preserved,” he stated.
Dr. Mafikuyomi advocates for greater government investment in preservation technologies, such as silos and processing zones, to help mitigate waste and ensure that excess produce can be stored or converted into value-added products.
“In Nigeria, we need to think about long-term strategies for managing surplus production. For instance, yam, which has a short shelf life, should be processed into dried yam or other forms for export,” he suggested.
“The key is strategic planning—knowing where your produce will go, who will buy it, and how you can add value.”
A Future-Focused Vision
As Unicorn Holding continues to expand, Dr. Mafikuyomi’s vision for the future remains focused on sustainability and growth. His commitment to supporting Nigerian farmers, improving food security, and diversifying the economy through innovative projects reflects his broader vision of positioning Unicorn as a leader in both real estate and agriculture.
“The journey has been challenging, but it is rewarding to see the positive impact we are making, particularly in the agricultural sector. Our goal is to ensure that Nigeria not only meets its own food needs but also becomes a net exporter,” he stated.
As a widely traveled professional who has visited over 60 countries, Dr. Mafikuyomi has attended numerous conferences around the world, gaining insights into best practices in business, agriculture, and technology. This exposure has played a significant role in shaping his strategic direction for Unicorn Holdings.
“Unicorn Holdings has notably supported the farming community by helping facilitate tractor access through its leasing program, benefiting numerous farmers who otherwise wouldn’t have the resources to purchase expensive machinery.”
This success, he noted, led to the establishment of a tractor assembly factory in Nigeria, a milestone that further cements Unicorn’s commitment to agricultural transformation.
“We are friends of the farmer,” Dr. Mafikuyomi stated.
“By providing not just the equipment but also the training on how to use it, we are helping to revolutionize farming in Nigeria. We are creating a school to train young people in the operation of these tractors. It’s about giving farmers the tools they need and ensuring they can operate them efficiently.”
This commitment extends to empowering young Nigerians with skills that can lead to better livelihoods and a more sustainable farming sector. Unicorn’s upcoming factory will serve as a hub for agricultural training, enabling a generation of skilled technicians and farmers who are well-equipped to face the challenges of modern agriculture.
Business Leadership and Chamber Memberships
Beyond his entrepreneurial success, Dr. Mafikuyomi is actively involved in Nigeria’s business community. He is a member of the Ibadan Chamber of Commerce and Industry as well as the Lagos State Chamber of Commerce and Industry, reflecting his dedication to fostering economic growth and industrial development in both cities.
His involvement in these chambers provides valuable networking opportunities and allows him to advocate for policies that support businesses, particularly in the real estate and agricultural sectors.
Mogaji Title and Community Engagement
In addition to his business success, numerous awards, and recognition, Dr. Mafikuyomi has embraced his role as the Mogaji (family head) in Ibadan, a title he was invited to assume by his family. Despite his busy schedule, he found it to be an important responsibility.
“It’s not just about tradition; it’s about contributing to the growth of Ibadan and ensuring that the people are positively impacted by the work we do.”
His involvement in the community goes beyond his title. He has invested in Ibadan by establishing a water factory and building infrastructure, including roads named after himself, his company, and his Olori. His vision is to help develop Ibadan into a hub for industry, bringing together local and international investors.
“There is so much potential in Oyo State and Ibadan,” he said.
“We have vast land, and I’m ready to bring investors here to establish manufacturing plants and industrial facilities that will create jobs and boost the local economy.”
Collaborating for Progress
Looking ahead, Dr. Mafikuyomi is focused on long-term goals, not just for Unicorn Holding, but for his community as well. He envisions a future where Unicorn plays a key role in ensuring food security and agricultural advancement, with a strong foundation in training, technology, and sustainable farming practices. His broader mission is to create an enduring legacy in both the business world and in Ibadan by nurturing a culture of industrialization and community support.
“We’re not just building businesses; we’re building foundations that will outlive us. We want to ensure that Unicorn’s work has a lasting impact and that Ibadan and Nigeria as a whole can benefit from the knowledge, resources, and infrastructure we create,” he said.
