- Nov 13, 2018
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Top 10 Lucrative Farming Businesses In Nigeria.
Nigeria is known to be blessed with many agricultural products by nature and is glooming daily in that line. Farming in Nigeria has obviously turned out to be a good sector in recent years, creating jobs and opportunities for entrepreneurs who are smart to go into farming business.
Farming has become a lucrative field that give rise to several millionaires in Nigeria, with a view of creating more wealth through farming in the coming years.
REASONS FOR SUCCESSFUL FARMING VENTURE IN NIGERIA.
As earlier said, farming is a glorious sector in Nigeria. Hence, below are the reasons you may want to consider before venturing into farming:
#1 Nigeria is largely populated with over 200 million people which is twice more than the populations of Zimbabwe and South Africa combined. Nigerians depend on staple foods produced from farms and other farm produces for their daily meals and sustenance.
10 Profitable Businesses You Can Start With 50k in Nigeria.
#2 Nigeria has one of the biggest expanse of Land in Africa of which 70% is available for farming.
Nigeria has large expanses of fertile farmlands laying fallow across the nation. Nigerian land area is about 910,770 sq km. The land area of any country is the country’s total area, excluding areas that are considered to be water bodies.
#3 The Nigerian government is willing to assist any willing farming entrepreneur/investors with the necessary supports and logistics. The Government is seriously turning its attention to promoting farming in Nigeria to help improve food productions in the country and minimize food importation.
#4 Nigerians boasts the highest purchasing power in Africa, far more than any other indigenous Africans. We buy things here and we pay cash. Talk about parties, Nigeria is the most merriment people on earth. The food used for parties and merriment in Nigeria can feed four other African countries.
#5 By the time Nigeria attain its full capacity utilization in agriculture, farming will become a great foreign currency earner more than the oil. The implication is that Nigerian farmers will be able to earn in Naira as well as in other foreign currencies.
Top 10 Lucrative Farming Businesses in Nigeria.
#1 Rice Farming
Nigeria is one of the world’s highest Rice consuming nation having it as one of the major staple food among Nigerians. Almost every family eats rice daily in Nigeria. In 2011 alone, Nigeria spent N991billion on rice importation and the rice we import is said to be nothing less than 10 years old in storage meaning we spend billions of naira buying rice that has since lost its nutritional values.
Any entrepreneur who invest into rice farming and get it right is sure to be smiling to the bank. A bag of rice is currently sold for N16,000 to N20,000 depending on the quality. A farmer who is able to invest in large scale rice production in Nigeria and able to produce 100,000 Bags of processed Rice in a year, sell at wholesale price of about N13,000 per bag, he will be making 13,000 x 100,000 = N13,000,000,000.
Rice farming is a capital intensive business and you can kick start it with 5-10 million naira.
#2 Cassava Farming
The popularity of cassava as the major source of food for Nigerians can be traced back to the days of our aged fathers. It is hard to tell which one between rice and garri is the most popular food in Nigeria. Both are the most consumed food staples among the citizen. Apart from garri, there are countless of other food stuffs that are processed from Cassava in Nigeria, one of which is fufu. The introduction of the high yield species of Cassava has made it possible for Nigerian cassava farmers to produce more cassavas per plot.
#3 Plantain Plantation
One unique thing about Plantain is that when planted, it keeps producing year in year out for eternity. Just Like Rice and Garri, Plantain is widely consumed in Nigeria. Any food that is popular in Nigeria is always a huge income source due to the large population of the country.
Farmers in Nigeria are not really taking advantage of the opportunity in Plantain Farming to create wealth for themselves. Plantain is highly priced in Nigeria and is always in high demand all year round. You can Fry, Boil, Roast or even bake it to make your products. Millions of Naira is obviously lying idle and remain untapped in plantain Farming in Nigeria.
#4 Poultry Farming
Everyone knows how profitable poultry farming is, it doesn’t need much introduction. Yet, it is still not fully tapped. What we currently have is few badly managed, scantily equipped poultry farms here and there. I’m yet to see a full fledged, high tech poultry farm except Obasanjo Farm.
Entrepreneur who is able to fire up serious investment into this sector will have huge profit to contend with. The reason is because Nigerians eat chicken more than snakes does and 70% of our consumption still based on importation. The egg is yet another gold mine!
#5 Pineapple Farming
Ask any Australian Farmer and he will tell you how huge the income in Pineapple farming is in their country. Any juice maker that doesn’t have Pineapple flavor variety in his product line is not yet in business. That tells you how popular Pineapple is, not only in Nigeria but worldwide.
Nigeria seems to have better soil for Pineapple Farming than Australia where Farmers are making it big in the business. A Pineapple sells in Mile12 market in Lagos for about N300. If you are able to harvest one million in a year, you will earn at least N150 x 1,000,000 = N150,000,000
#6 Beans Farming
A bag of Beans cost twice more than a bag of Rice and Garri. The Northern Nigerians are making it big in Beans Farming, supplying almost all over Nigeria and beyond. But one thing is that, this same Beans also can do very well in the South East, South West, and South South Nigeria soils. So why only farm it in the North?
#7 Catfish Farming
Catfish Business is becoming popular in Nigeria right now but how many are really getting it right? Get it right and you’re in money. A single Catfish sells for a minimum of N1000 in Restaurants and about N800 - #1500 in the market.
#8 Goat Rearing
Its only in the North that goat is reared in commercial quantity.Why would you chose to sell used shoes in Oshodi or other places in Lagos and make just few thousands of Naira every year when you could actually engage in productive farming business and make millions of Naira?
Get involved in professional goat rearing and make money for yourself. A full grown goat sells for between N25,000 to N50,000
#9 Snail Farming
Snail Farming is really picking up in Nigeria as it being introduced in several dishes recently. The profit potential for you in snail farming is about N50,000,000 Annual revenue.
#10 Maize Farming
You will never know the profit in Maize Farming in Nigeria until you try it. One thing I like about maize is that everything happens fast. It takes less than Four months between planting and harvesting so you earn cool cash and smile to the bank.
Farmers are among the Richest people In USA and Australia. You can make it on a large scale here in Nigeria and still make millions if not billions yearly.
Choose the most suitable niche today and start mapping out a plan or blueprint on how to successfully run the business.