Do you want to venture into farming? If ‘yes’, we will show you the seven profitable agric businesses in Nigeria to try out for. Before crude oil became the well of money, agriculture was the biggest source of income generation for the entire country. Unfortunately, the government diverted its attention away from agriculture, focusing only on oil, which led to the impediment of the growth witnessed in the 1980s.
For a fact, agriculture is still one among the highly popular industries with a large market potential to move the Nigerian economy to a great height. As an individual, you can make good returns by investing in agriculture in Nigeria. There are great gains to make if your business is well run. Also check out 5 best websites to raise fund for your business.
Most profitable agric businesses in Nigeria
Below is the list of seven (7) most profitable agricultural businesses in Nigeria:
1. Rice Farming
Since rice importation to Nigeria was prohibited by the federal government, rice farming has grown exponentially and has become more profitable for the farmers. In Africa, Nigeria is ranked as the largest producer of rice, surpassing Egypt by nearly 8 million metric tons. Despite this, Nigeria is still struggling to meet the local demand for rice because of its large population, making rice expensive and opening a business opportunity for people to farm and make huge profit.
2. Cassava Farming
Cassava is, in fact, the most valuable agricultural products in Nigeria, as many other food products can be extracted from it. Cassava farming has been a source of livelihood for people around Nigeria, especially the rural dwellers who see it as a major source of income. The interesting thing about cassava farming is the ease with which it can be farmed and harvested. You should consider cassava farming as you want to go into agriculture.
The demand for chickens, ducks, turkeys etc. will always be on the rise. Nigerians eat meat and egg daily. As a result, poultry farming becomes not only attractive but also very lucrative. The good thing is, the maturity cycle for the birds is quite shorter, compare with planting.
4. Snail Farming
It is very baffling that snail farming is the least patronized form of farming in Nigeria. How saddening! Unknown to many people, snail farming is very rewarding and it lets you make some cool money within a short period.
5. Catfish Farming
Many Nigerians are probably surprised to see catfish farming on this list. Well, the truth remains that Nigerians love catfish. Go to hotels and bars across Nigeria and you wouldn’t dispute this. It is in high demand and is very easy to rear. You can start this business in the backyard of your house.
6. Maize farming
Maize business is very popular in Nigeria. In every street, there is someone selling either boiled or roasted maize. Also, maize can be used to make chicken feeds and other kinds of food.
7. Pig farming
Believe it or not, pig farming is much profitable. One good thing about the pig is, it reproduces easily and the pork market is estimated at $3billion dollars.
The agricultural business in Nigeria is largely unharnessed. Therefore, it provides a great opportunity to make money.