Agriculture in Nigeria has greatly improved in the past few years because of the advent of technology and other necessary infrastructures. Creating jobs and opportunities for entrepreneurs who dare to go into farming business. Millionaires are currently being made every year through farming in Nigeria and there is certainly no end to the prospects of creating more wealth through farming in the coming years.
Looking for a farming business to invest in? here are 9 profitable agricultural business ideas that you can start today
1. Rice Farming
Nigeria has one of the world’s highest Rice consumption stat. Rice is by far one of the most popular 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. That means we spent billions buying rice that has since lost its nutritional values.
Any entrepreneur who goes into rice farming and get it right is sure to be smiling to the bank. A bag of rice is currently sold for N13,000 to N16,000 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 N10,000 per bag, he will be making 10,000 x 100,000 = N1,000,000,000 ($3million)
You can achieve the above figures conveniently with less than five hundred and fifty million Naira ($1.5 Million) capital investment. I am currently looking for who to partner with in this. If you have the cash, I have the logistics and good planning to achieve this result. Serious investors only!
2. Cassava Farming
The popularity of cassava as the major source of food for Nigerians dates back to ages. Between Garri and Rice, it is hard to tell which one is the most popular food in Nigeria. Both are the most consumed food staples among the citizen.
A bag of Garri costs almost the same as a bag of rice. Apart from garri, there are countless of other food stuffs that are processed from Cassava in Nigeria. The introduction of the high yield species of Cassava has made it possible for Nigerian cassava farmers to produce more cassava per plot. Nearly every land in Nigeria is good for growing Cassava and 1 Acre, when properly planted and managed can produce thousands of Naira worth of cassava in a year!
3. Plantain Plantation
One good thing about Plantain is that when planted once, it keeps producing year in year out for eternity. Like Rice and Garri, Plantain is widely consumed in Nigeria. Any food that is popular in Nigeria is always a huge income earner due to the population of the country.
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 goldmine!
5. Pineapple Farming
Money is sweet, everything sweet is money, and Pineapple is sweet. 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 Mile-12 market in Lagos for about N200. If you are able to harvest one million in a year, you will earn at least N80 x 1,000,000 = N80,000,000
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 the North?
7. Catfish Farming
Catfish Business is really hyping 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 N700 in Restaurants and about N400 in open market.
8. Snail Farming
Snail Farming is really picking up in Nigeria but if you don’t hurry up, others will make all the money before you realize what you are missing. The potential in this business for you is about N50,000,000 Annual revenue.
9. 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.
Get involved in any of these farming business in Nigeria today and you will never regret it.