Exporting food commodities grown in Nigeria have massive profits than reselling them in your local market. If you have a reliable exporter, you can export your product to the USA and sell it for huge amounts. Read this article to know the most lucrative agricultural business in Nigeria.
The agricultural sector is one of the most flourishing sectors of the Nigerian economy. With proper strategic planning, any individual having basic knowledge of farming and manufacturing operation can start a profitable agriculture business.
You don’t need much capital or farmland to get into the agriculture business. If you have a little piece of land in your backyard, you can still plant some crops in small or vertical containers to get the most out of your space.
List of Lucrative Agriculture Business to Start in Nigeria.
1. Maize Farming
The Maize farming business has definitely been thriving in Nigeria for decades. Maize, which is also commonly known as corn, is one of the most popular food crops in Africa. Maize is cooked in various ways and millions of Nigerians rely on this crop because it usually costs less than wheat and rice and other common grains and cereals.
The importance of Maize production in Nigeria cannot be overemphasized. A lot of by-products are gotten from Maize. Maize production gives birth to a lot of other consumables and some of them are: Pap, Custard, Corn Oil, Alcohol, Cornflake, Animal/Livestock Feeds, Corn Flour, Corn Starch, Corn Powder.
2. Cassava Farming
With the increasingly diverse use of cassava products in Nigeria, cassava farming is getting more lucrative with every passing day. This farm product has always been a source of lively hood and food for millions of Nigerians. 90% of Nigerian households consume cassava products every day. Some of the popular meals made out of cassava are: garri, wheat-flour, animal feed, commercial caramel, and a lot more.
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.
3. 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.
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.
4. 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.
5. 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.
6. Catfish Farming
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.
7. 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.
8. 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.
9. Livestock Farming
As shocking as it may seem it true. Livestock Farming in Nigeria is also one of the Most Profitable Agricultural Business in Nigeria. Besides,
Although you can’t start it in your backyard, a cattle farm has proved to be a stable source of money for most small scale farmers in Northern Nigeria. Since one cow is equivalent to the cost of a three-bedroom apartment in Lagos, it’s safe to say that rearing cattle and other livestock is one of the best agric businesses of 2021.
That aside there is a lot of money in the cattle rearing business. If you need quick money from your agric business, then starting a cattle farm is the best option for you. Aside from rearing livestock for meat, you can also rear your livestock for milk, leather, manure, ivory, and research. It’s not a must that your farm must only have a cow, you can also rear other animals like horses, goats, sheep, pigs, and donkeys in your cattle farm.
Cattle Farming ranks as one of the most profitable agric farming businesses in Nigeria. An adult cow can be sold for at least ₦300,000 in any market across Nigeria. In rare and extreme cases, you can make up to ₦650,000 from one sale. If buying a dozen cows is too much for you, you can try rearing goats and sheep.
There’s a surge of interest in the Agricultural sector in Nigeria. A lot of entrepreneurs are taking on various areas of agriculture; disrupting and transforming it into viably successful endeavors using information technology.
From maize farming, rice production to poultry farming and fishery. Farming is starting to recover its age-old respectable reputation.
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