10 Most Profitable Farming Ideas In Nigeria
Many economic experts regard farming in Nigeria as the solution to the current economic meltdown in the country. It is one of the most lucrative businesses in Nigeria.
It has the ability to create job opportunities for both employers and employee while generating sufficient income to as many as will take the leap of faith and invest in it.
The huge land mass and a favorable weather condition make farming in Nigeria as easy as drinking a cup of water.
Come to think of it- the few Nigerians, and foreigners alike, who have invested their money in this venture, are the one carting away the wealth of the Nation.
Silent millionaire-farmers are so many in Nigeria and there is no end in sight to how much these few can make from farming in Nigeria.
Before oil became the mainstay of the Nigerian economy, few can testify to the immense prosperity that was recorded in the old Nigeria.
Nonetheless, the few who have not forgotten the ancient paths are still enjoying the benefits of farming in Nigeria.
Still having doubts, read on…
Is Farming In Nigeria Lucrative?
The answer is yes and here are 5 reasons why you need to start farming in Nigeria without delay:
(1) Huge human resources
Nigeria is a country blessed with over 180 million people- the 7th most populous country in the world and the first in Africa.
This number provides two major advantages that will be of benefit to farmers in Nigeria:
- Cheap labor: You don’t have to spend so much to hire people to work on your farm. This large population will provide you with adequate skilled and unskilled labor that will help to drive your business forward.
- A ready market for the sales of your farm produce: Selling your produce should come readily considering that a large chunk of the population will be relying on you to supply your goods for their consumption.
(2) Large expanse of land:
Nigeria is richly blessed with a very large expanse of fertile soil hat is yet to be put to good use.
Nigeria’s land mass measures 910,770 sq km- the 32nd largest in the world. Do you know what the black soil on the Nigeria coat of Arms represents? Take a guess.
(3) Grants and loan opportunities
A lot of corporate entities as well as banks have turned their attention to promoting and sustaining farming in Nigeria.
The government is not left out of this race. Everyone is working hard to restore the lost glory of the agricultural sector in the country.
Consequently, so much money in the form of grants and loans has been made available for intending farmers and entrepreneurs.
(4) Export opportunities
The government of Nigeria is doing everything within its power to put Nigeria back on the list of major exporters of agricultural products. This is a great opportunity for all farmers. You can supply your products to established/recognized government and non-governmental agencies that specialize in exporting farm produce out of the country. Who knows? You could start earning in foreign currencies.
(5) Huge growth potential
By the time Nigeria attains its full capacity utilization in agriculture, Farming in Nigeria will become the mainstay of the Nigerian economy. Those that will benefit maximally are those ones that start early because the agricultural sector is about to bloom.
Now that you are convinced about the vast pool of opportunities that farming in Nigeria has to offer, let’s take a closer look at the most lucrative aspects of farming that are gold mines in Nigeria:
10 Most Lucrative Farming ideas In Nigeria
1) Rice Farming
Nigerians love eating rice. It is our biblical daily bread.
It is the most popular staple food among Nigerians, eaten by both rich and poor.
According to a 2011 report, Nigeria spent N991 Billion on the importation of rice from other countries.
At the moment, the government is trying to reduce importation of rice so as to increase the production capacity of local farmers.
This kind of statistics is why you should be investing in rice farming in Nigeria.
A bag of Rice currently sells between N16000 and N20, 000 depending on here you make your purchase.
With the right knowledge and expertise, one can invest in large scale Rice Farming in Nigeria and attain a production capacity similar to some multinational companies in the Africa.
By investing an equivalent of $1 Million into this venture, it won’t take long for such a business to attain its export potential.
2) Cassava Farming
Some years back, Nigeria was a major exporter of cassava to other African countries. Things are a little different now, but not for long.
Garri, a byproduct of cassava, is a popular Nigerian dish, which can be taken raw or boiled.
Its popularity is second only to rice as a major food item in Nigeria.
Cassava is also known for its use in the production of flour (cassava flour) which can be used to bake bread and other flour products.
Cassava can grow on almost any soil type and anywhere in Nigeria.
Moreover, the introduction of the high yield species of Cassava has made it possible for Nigerian Cassava Farmers to produce more Cassava per plot.
Why not take that bold step and invest in cassava farming in Nigeria?
You can choose to sell your harvest to major marketers or process it into finished consumable packs that can be sold directly to consumers.
3) Plantain Plantation
Only very few Nigerians are aware of the huge opportunities that lay hidden in plantain farming.
The beauty about Plantain farming is that once planted, plantain trees keep producing year in year out.
Like Rice and Garri, Plantain is widely consumed in Africa and used for various food recipes including plantain chips, roasted plantain, plantain flour, and other local delicacies.
Plantain is highly priced in Nigeria and is always in high demand all year round such that plantain farming in Nigeria is an avenue for wealth.
Poultry farming in Nigeria is one of the most profitable business ventures and a wise investment choice for every aspiring entrepreneur.
Investing in poultry farming in Nigeria is a sure path to wealth.
So many graduates and undergraduates have kept their certificates away and have opted to take poultry farming as their newfound career path.
These ones aren’t fools. They can, simply, see what others cannot see.
In fact, Poultry Farming is the big thing in Nigeria’s agricultural landscape.
The consumer demand four poultry products are as high as 600 million crates of eggs annually, not to mention the number of chickens consumed annually.
In addition, the fast rate of growth of chickens means that you can expect to reap the reward of your labor as soon as possible.
Isn’t that the kind of business to invest in?
5) Pineapple Farming
Australia is well known for the huge income that is generated from Pineapple farming annually.
Any juice maker that doesn’t have Pineapple flavor variety in his product line is not yet in business.
All of these points to the fact that pineapple farming is a big deal globally.
Not only is growing pineapples ridiculously easy. Growing pineapple plants is possible just about anywhere in the world!
That’s because the pineapple plant is one of the few tropical fruits that are really well suited to growing in pots, and that means you can grow pineapples indoors.
Tap into this huge business opportunity that pineapple farming has made available. Who knows? You could be the richest pineapple farmer in the world.
6) Beans Farming
Beans farming in Nigeria is commoner in the Northern part of the country.
Beans can be grown anywhere in Nigeria, although there are some parts of the country like the northern region that you may say have good rich soil for beans.
Nonetheless, there is no region in Nigeria where you cannot grow beans.
Beans are cash crops and can grow in the midst of other crops. They can be computed into cassava or sorghum farm.
What this implies is that you can own a cassava plantation and a beans farm on the same piece of land.
Take a step back and conduct a feasibility study on beans farming. Let your findings guide you into the lucrative world of beans farming in Nigeria.
7) Catfish Farming
Catfish farming is one of the easiest business ventures to setup. It is one of the branches of fish farming.
Many catfish farmers have their fish ponds within their homes.
It is a type of farming that doesn’t require too much attention and can be run side by side with another business.
8) Goat Rearing
Goat farming is another lucrative business in Nigeria. You can sell your goats or choose to sell their byproduct.
Snail farming is a highly lucrative business providing a means of livelihood to millions of people globally.
Snail farming in Nigeria is even more popular; due to its relatively cheap cost of startup and huge returns on investment.
Do you know that over 500,000 tons of snails are consumed per year, including America and China?
In Asia, snail rearing is big business, providing opportunities to many farmers. Much of the harvest is exported to other developed countries in Europe and America.
Tap into this huge market by becoming a major supplier of snails globally.
10) Maize Farming
You never know the profit in Maize Farming in Nigeria until you try it, and one thing I like about it is that everything happens fast.
It takes less than Four months between planting and harvesting.
Finally, now that you are aware of the most lucrative agricultural business ideas in Nigeria, it is time to make a decision.
Prepare your business plan and let the experts offer sound financial and business guide before you kick off.
If you are a teenager, then discover the best small business ideas for teens.
The sky is only the starting point. Just choose any of these creative small business ideas. Cheers!