The Major crops business in Nigeria include beans rice, sesame, cashew nuts, cassava, cocoa beans, groundnuts, gum arabic, kolanut, maize (corn), melon, millet, palm kernels, palm oil, plantains, rice, rubber, sorghum, soybeans, bananas and yams. In the past, Nigeria was famous for the export of groundnut and palm kernel oil. While animal production or business in Nigeria includes: Poultry, Pig farming, Cattle rearing, Fish farming, e.t.c.
How to start a farming business in Nigeria
To start a farming business in Nigeria, you are to identify the following;
- First is to Identify a farming problem. The very first step to take when starting a farming business is to identify a problem that people have and focus on solving that problem.
- Second; After discovering your environment, Close the knowledge gap and choose your business type.
- Third; Raise capital and get started.
What You Should Know About Nigeria Agricultural Business;
Nigeria is known to be blessed with many agricultural products by nature. 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.
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.
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.
Most Profitable Farming Business in Nigeria
So if you are considering farming business in Nigeria you are taking the right step because 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.
12 Most Profitable Farming Business in Nigeria and how to get started;
1 Honey Bee Farming.
Honey bees can produce lots of honey, and selling honey can be a lucrative business for people who aren’t allergic to bee stings, who don’t have a lot of money, and who have a little space in their backyard to farm their honey bees.
Honey is one of the oldest sweeteners on earth. Lucky for us, it also has many health benefits and uses. Keeping bees at the large scale for commercial purpose as a business plan is increasing in this fast growing world.
2 Rice Farming
Nigeria is the largest producer of rice in West Africa and the third in Africa after Egypt and Madagascar producing about 3.6 million metric tons on the average annually. Interestingly, Nigeria still falls short of meeting its local demand which is placed at about 5.5 million tons.
Considering the fact that Nigeria has a huge market for rice, if you are looking for a lucrative agricultural business idea in Nigeria, you need to seriously consider entering the rice farming business which is undoubtedly one of the most profitable businesses in the Nigerian agricultural sector.
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.
3 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.
As the population of Nigeria and Africa as a whole continues to grow, the demand for cassava products will continue to skyrocket, leading to higher revenues generated by cassava farmers. If you’re looking for an agricultural business that would ensure you always almost sell out all your harvests, cassava farming is one great farming business to start.
4 Pig Farming.
Pig farming in Nigeria is one of the lucrative and profitable livestock businesses. Commercial pig farming is beneficial due to the fact that pigs are prolific breeders and can deliver 10 to 14 piglets in a single birth.
Pig meat (pork) has an excellent demand since the red meat is a good source of protein and tasty as well. The pork market in West Africa alone accounts for about $3 billion consumption value. 80% of that is sourced by importation. That is a lot of untapped revenue.
5 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.
6 Poultry Farming
Poultry farming is the process of raising domesticated birds such as chickens, ducks, turkeys, and geese for the purpose of farming meat or eggs for food. Poultry Farming in Nigeria is probably one of the most lucrative farming business you can do. The quick maturity of chicken presents one of the finest opportunity for entrepreneurs to make good money within the shortest period of time possible.
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! With over 160 Million consumers in Nigeria alone, the market is always there waiting to be tapped. The demand for poultry products such as eggs is so high that people go about every day looking for where to get the supplies needed.
7 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
Most Profitable Farming Business in Nigeria
8 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?
9 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.
There are many kinds of fish growing in Nigeria, however, many people like catfish because its meat is juicy, soft and tasty. However, not everyone knows that this fish can be grown quite easily even at a small fish farm, you can even organize catfish farming at home.
There’s a very high demand for catfishes all year round. The demand is highest from football viewing centers, restaurants and market women who buy in bulk and sell in retail either as live catfishes or smoked catfish. Individuals also demand catfishes too for personal consumption. With catfish farming, you’ll never have any problem selling your products.
10 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
11 Snail Farming
Snail farming is considered to be one of the most lucrative agribusinesses you can start with low capital in Nigeria today. Yet, it is one of the most neglected animal rearing business in the country. Snail farming in Nigeria provides one of the finest opportunity to make money within a short period of time.
Snail farming is a niche and unusual business type of business. It’s very expensive to buy snail to eat because snails are very dormant during the dry season, they become increasingly scarce during this period and the market is starved of adequate supply until the next wet season.
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.
12 Maize Farming
Maize farming may sound ridiculous but 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.