Farming is a very lucrative business and typically involves cultivation of crops and/or rearing of animals. Farming has been the bedrock of nations over the years, providing food for the sustenance of the populace and a suitable means of employment for people. Starting a farm today is a great step to sustainable nation building and personal income generation.
Here’s a Word Of Caution Just Before You Launch Out.
Before you can become a good farmer in Nigeria today, you need to first understand and underscore necessary tips and ideas on how to start a successful farming business in Nigeria. This is because the game has changed hands within the farming industry in Nigeria today. You must avoid debt as much as possible if you must meet success within Nigeria’s farming industry.
Also, identify your market niche prior to starting a farming business in Nigeria. Thirdly, develop your passion and set reasonable goals and be aware of competition but don’t get bothered by it. Also, expand your knowledge-base and reading/research culture to work in line with what is happening in the present-day farming industry in Nigeria
Top Reasons Why You Should Farming Business In Nigeria
So, haven’t taken the above into consideration, the next question the would-be investor in the Nigerian farming industry should be concerned about would be to understand why Nigeria should be the destination of choice for farming. Answering this will, therefore, satisfy the quest for why farming in Nigeria is necessary. To answer this, few simple points have been highlighted below. You will then move on to discovering the top most lucrative farming businesses which you can do in Nigeria today.
Large Productivity And Profitability Margin
Many people are choosing the Nigerian environment as the destination of choice when it comes to farming for several reasons and as it appears, there seems to be no other country in Africa or anywhere for now, with a productivity and profitability margin as good and as viable as Nigeria.
High Population Of Nigeria
Secondly, the high population of Nigeria totalling over 200 million people is a reason good enough for any would-be investor to do farming business in Nigeria, considering the possibility of direct sales of the goods immediately after harvest to a ready-to-buy-market. This is because a higher percentage of Nigerians purchase their goods and services from the farm or from the market.
Availability of Expansive Fertile, Arable Land
Thirdly, the large expanse of highly fertile farmlands in Nigeria also allows Nigeria to be the destination of choice when it comes to arable farming Nigeria has a very large and expansive land covering a total mass of 910, 770 excluding water bodies making it one of the biggest land expenses in Africa with over 70% of its land mass available for farming.
Governmental Supports, Loans and Incentives
On the part of the government, there have been many encouragements along farming lines in Nigeria. This is also another reason why many investors choose Nigeria as a destination of choice for their family.
The government is highly in support of entrepreneurship and investors who would like to farm or promote farming practices in Nigeria and has also made an enabling environment for this to take place. Agriculture is also one of the highest earners of foreign exchange for Nigeria aside from oil. So, the government is fully supportive of farming practice in the country
Major Farming Businesses With High Prospect You Should Start In Nigeria Today
So, now we will look at farming businesses in Nigeria, with emphasis on major farming practices with a high prospect in Nigeria today.
Starting with rice farming, do you know that a bag of rice in Nigeria currently sells for about N13,000 and 25000 naira depending on the quality of the rice. So, if you can produce about 100,000 bags of rice in a year and give it out at the wholesale price of about N15,000 you will apparently be making about N1.5 million. But why rice?
Rice is one of the most cheerful foodstuffs in Nigeria and almost all families eat it on a daily basis while the country spends as at the year 2011, N991 million on rice importation rice into the country.
What that means therefore is that the money that is being spent on importing rice, if it could be channeled to you as a major rice farmer in Nigeria, you will make a whole lot of money from rice farming.
Cassava farming which is done in whatever form, be it for Garri or fufu or starch is the most common food and most highly patronized foodstuff in Nigeria. Everybody eats cassava in one form or the other. the price of Garri is like that of rice and what this means is that you can achieve almost the same profit margin if you trade in cassava planting, being that the foodstuff in a premium good in Nigeria.
More so, planting high yield species of cassava will convert to more sales for the farmer. As mentioned earlier, Nigeria has lots of fertile lands for profitable cassava planting and management. When well invested, you can be ripping in millions of naira from selling of raw cassava tubers or processed cassava products such as Garri and fufu.
Poultry farming is yet another very highly lucrative farming business to start in Nigeria, which if well managed properly could turn the farmer into a millionaire within a very short time. It doesn’t cost so much to operate a poultry farm business in Nigeria in so far as you have the necessary foundational and operational knowledge on poultry management and the required startup requirements, management prowess etc. where in need of advice, you can always ask around from veteran poultry farmers in Nigeria and I believe they will give you the basic success tips on how to go about it.
Beans farming is yet another high yield business venture in Nigeria. Do you know that a bag of beans costs almost doubles the price for a bag of rice and Garri combined and people from northern Nigeria seem to be the most active farmers running this business at present?
When it comes to beans farming the farmer has prospects of chains of supplies all over the country. You can tap into this rich potential and make good earnings for yourself in the beans farming sector in Nigeria.
Catfish farming, Snail Farming etc.
If you do not have much money, you can try catfish farming which sells for between N1500 in the open market and about N2500 in restaurants. That is a great farming business to go for. Snail farming is also another high yield business with a startup capital of less than N50,000. It has been found from research that one can make over N15 million in snail farming business within the period of two to three years if operated proficiently.