REMUNERATIVE FARMING BUSINESSES IN NIGERIA TO INVEST IN
Farming in Nigeria is a blessing to the inhabitants as it is one of the things that keep the economy growing in terms of feeding and also for business purpose which in turn brings in massive revenue. An example of the farming products that yields huge income is the Cocoa; it is exported to countries that need them for consumption. In recent years, it took a dramatic turn to better directions creating jobs and opportunities for the non-employed and aspiring entrepreneurs in the farming line. Millions are being made each year of investing and there seems to be no end to the prospects of creating more wealth through this farming business in coming years.
For farming to have been the wave of the moment in Nigeria, it means that there are reasons good enough why it is currently well. So therefore, understanding these reasons will help anyone who is interested in the business to think so well about the setting up. Research brought a fact that, farming in Nigeria thrives a lot better than in other countries in terms of productivity and profits making. Also, the rate of demands of produce is high and this speaks of an advantage over other countries. Below are stated top 5 reasons why you should venture into Farming in Nigeria.
Reasons why Farming in Nigeria can’t be resisted
- The Nigerian government now has her focus on promoting Farming in Nigeria to help increase food productions in the nation which in turn would decrease the rate of importation. Supports and logistics help have made available for interested farming entrepreneurs or investors by the government.
- The Nigerian population is over 150 Million people which is twice more than that of South Africa and Zimbabwe combined. This nation depends majorly on staple foods produced from farms and other farm produce for daily consumption and sustenance. Reports also have it that over 80% of the entire population gets their farm produce from the market.
- Nigeria has large expanse of fertile land without any use. This country has one of the biggest expanses of land in Africa of which about 70% is available for farming. From measurement, the land area of Nigeria is 910,770 sq km, excluding the water bodies.
- It is no news that Nigerians posses a very high purchasing power more than any other native African. Nigerians are also known of their much affinity for merriment; throwing parties almost every weekend. Report also says that food used for parties and merriment in Nigeria yearly can feed four other African countries.
- All things been equal as projected, by the time Nigeria attains her full capacity in Agriculture, farmers will start earning high pays in Naira, Dollars, Euros as well as Pounds Sterling.
As we have been able to look into reasons why farming in Nigeria would thrive, it is important that we also must know the top farming businesses that are lucrative in the Nation.
Top 10 Farming Business That is Lucrative in Nigeria
- Rice Farming: Rice is by far one of the most popular staple foods among the inhabitants of this nation and statistics shows that they consume rice very well as almost every household eats it daily. It was said that Nigeria spent N991 Billion on Rice importation in the year 2011 alone, showing how high the consumption is.
In Nigeria, any entrepreneur who decides to venture into Rice farming would surely smile to the bank as a bag of Rice is currently sold within a range of N15,000 – N18,000 depending on choice. From calculations, a farmer who is able to operate a large scale and produces at least 100,000 bags of processed Rice in one year. If sold at a wholesale price of N14,000 per bag, he/she would be making N1.4 Billion naira. To achieve this, one would have up to Two Hundred Million Naira for a start.
- Cassava Farming: Nearly every land in Nigeria is good for growing Cassava. Its popularity as the major source of food for Nigerians dates back to ages. There are two major types of food produced from cassava; Garri and Rice and apart of these, there are tens of other food stuffs produced from it in Nigeria. Between Garri and Rice, it is hard to tell which is the most popular for consumption in the country and an Acre when properly planted and managed can produce Thousands of Naira worth of Cassava.
- Plantain Plantation: Plantain has a unique characteristic which is its continuous growth after been planted once. It keeps producing year in year out. It is also widely consumed in Nigeria as it is used to make different forms of it; fried, boiled or roasted one. Plantain is highly priced in Nigeria and is always in demand all year round. Farmers in Nigeria haven’t really taken the advantage of this type of plantation to create wealth. Therefore, aspiring farmers or investors can venture into this kind of farming as it is also a promising one in the farming business.
- Poultry Farming: This is not a new business in Nigeria as everyone knows how high demand is placed on it, yet it’s not not filly tapped. There have been several poultry farms but not well equipped and managed and the only surviving one is the Obasanjo’s Farm. Willing and serious entrepreneurs who are able to invest hugely will surely have a good profit in return and reason is because the inhabitants of the nation consume it so well and a major part of it is imported.
- Pineapple Farming: Pineapple is known for its flavour and any juice maker who doesn’t have this in his/her product line is still a joker. A report from Australia says that the business is a successful one over there and Nigeria seems to have a good fertile soil compared to theirs. An average pineapple is sold at the rate of N200 per one in the market – and if you are able to harvest one a million in one year, selling at the rate of N90 per one, you would earn at least N90,000,000. But it also requires a good capital to start and earn this much.
- Beans Farming: In Nigeria, the only part that beans farming is much is in the North, supplying other parts of the country and they are making it big in it. This same beans can also do well in other parts if the country, places like the South West, South East and South Nigeria soils.
- Catfish Farming: This is also another form of making cool cash. It is really booming in Nigeria as Restaurants invest so well in it, making it ready in form of pepper soup for consumption. It is sold for N400 in markets and N700 in Restaurants.
- Goat Farming: Rearing of goats in large quantity takes place in the Northern part of Nigeria which means that only a part of the country really makes something good out of it. This is what almost every household consume day in, day out. Eateries also can’t do without it – it is what crowns any kind of food to be consumed. Southerners should also invest in this business as there is a lot of money to be made there.
- Snail Farming: This is yet to really pick up in the country as people are yet to venture into it. However, there is a huge potential in this business as the rate of consumption is growing day by day.
- Maize Farming: There is something so sweet about this type of farming and it’s that everything happens so fast. It takes less than four months between planting and harvesting. The rate of consumption of this produce is also high as the inhabitants love it so much, though seasonal. It could be consumed either boiled or roasted; the roasted is also prepared with beans and it’s a sumptuous meal.
- Rabbit Farming: This is one Business that as made me serious Money in Nigeria and it is still making me money, I still got an order for rabbit this morning, this business is underrated and many people don’t know it has such a great potential. I have made over 6million naira from rabbit farming Business in Nigeria, to learn details and get started, click here and read my story.
Dear reader, as an aspiring farmer or an entrepreneur who wants to venture into businesses that are lucrative; much profitable, you could check into that which fits into your plan from the above listed and of course consider the resources available to achieve your dream.