Farming in Nigeria: Profitable Business Opportunities in Agriculture Sector


January 28, 2018 Facebook Twitter LinkedIn Google+ Agriculture,Business,Business Ideas,Nigeria


Farming in Nigeria, Most Profitable Agricultural Business, Most Lucrative Agricultural Business in Nigeria

Farming in Nigeria is one of the most lucrative agricultural business of all time to invest in. In fact, the return on investment (ROI) in the farming business is high and fast; making it to be the most profitable agricultural business in Nigeria. Many people – farmers and the likes are now becoming richer by the day due to one simple reason; that is to say, the demand for food is on the rise and supplies are limited. In this article, I will be going through the most profitable farming business in Nigeria.

While other types of businesses may sound daunting, farming on the other hand is not that difficult to start as a business. In fact, there are more than enough lands to use for your farming activities if you are serious. As a matter of fact, there are good reasons why you should consider farming in Nigeria as a source of income.



Do you actually know that God bless Nigeria in terms agriculture and farming? if you do not know, feel free to go through agriculture in Nigeria article. You will see all the good reasons and indication factors on the blessing am talking about.

At the bottom of this page, I have summarized the list of business opportunities in agriculture sector pertaining to Nigeria.

Why Farming in Nigeria?

Sometimes, I wonder the separation between Farming and agriculture. Nevertheless, I still see farming and agriculture is the same.

Back to the question.

As agriculture is the growing of crops and rearing of animals for human consumption, raw materials and medicinal use. So if farming is the crowing of crops and rearing of animals. then, why farming in Nigeria as a business?

Farming comes with its own ups and downs. Just like any other business, you will need to do a bit of feasibility study which includes market research when you are venturing into one of the most profitable farming business in Nigeria.

Before going into the nitty-gritty of the topic, let us look into the ups and downs of farming in Nigeria; in other words, advantages and disadvantages of starting such business in the country.

Advantages of Farming Business in Nigeria

The following are various advantages associated to running a successful farming business

  1. Farming in Nigeria is viable and profitable;
  2. Employment opportunities;
  3. Improving standard of living;
  4. Demand for quality food products are high;
  5. There are availability of natural resources such are land; and
  6. Both Nigerian government and private organizations give farmers financial supports.

On the other hand, we look at the downs of farming in Nigeria; it can be summarized below:

Disadvantages of Farming Business in Nigeria

  1. Illiteracy;
  2. Pest infestation
  3. Destruction of natural habitat; and
  4. Lack of good roads and basic amenities for farmers.

As shown above, there a few problems you should expect when looking to start a farming business in the country. Nevertheless, these set of problems has some specific solutions to them. Regardless of the type of problem you face in the business, always remember that – there are no problem without a solution.

List of highly profitable Farming Business in Nigeria

Below, I have listed business opportunities in farming that are highly profitable:

  1. Poultry Farming;
  2. Plantain Farming;
  3. Rice Farming;
  4. Snail Rearing;
  5. Goat Rearing;
  6. Rabbit Rearing;
  7. Ground Nuts;
  8. Pig Farming;
  9. Catfish Farming;
  10. Beans Farming;
  11. Plantain Plantation;
  12. Maize/Corn Farming;
  13. Cassava Farming; and
  14. Pineapple Farming.

As shown above, they are the most profitable farming business in Nigeria.

Now, let us take each one of the above one after the other.

1. Poultry Farming

Types of Farming, Farming in Nigeria, Farming Business in Nigeria

This is a process whereby domestic birds such as turkeys, duck, chicken and few others are raised for the purpose of food. In other words, poultry farming produce can be their egg or meat.

Comparatively, chickens are the most farmed poultry farming in the world.

Statistics show that over 50 billion chickens are raised annually for human consumption; either to eat as meat or for their eggs.

By the same token, we see chickens as the most popular poultry farming in Nigeria. Not only is it popular for the meat consumption as food, but also popular on the basis of the eggs it produce. As a matter of fact, over 900 million crates of eggs are being consumed annually in the country.

Poultry products are in high demand, does the supply match this demand? Food for thought!

2. Plantain Farming




Plantain farming in Nigeria has high returns on investment. On the other hand, many Nigerians are not aware of the huge opportunity available within plantain farming.

On good advantage of this agricultural product is, one planted ones, it will continue to produce for you year-in-year-out. What does this mean? It simply mean you do one planting and all that remain in harvesting every season.

Plantain as a product can be use for different recipes such as – plantain chips, fried plantain, roasted plantain, plantain flour and many other local delicacies. Additionally, it has lot of nutritional benefits which includes carbohydrates, vitamins and minerals.

3. Rice Farming

Rice, a cereal grain is the most widely consumed food by Nigerians. As a matter of fact, Nigeria produce rice and at the same time, spend billion of Naira to import the product into the country.

With Nigeria government trying to reduce the amount spent on the importation of rice, there is no better time for investors to start thinking getting into the rice farming business in Nigeria.

Let us look at the following statistics:

  1. Nigeria is the third largest importer or rice according to Statista; importing over 1.9 million metric tonnes annually;
  2. The country does not fall within the twenty rice exporting countries in the world;
  3. Nigeria stand at the 11th position when it comes to rice consumption globally; and
  4. Demand for rice production and consumption with the country is high whereas, its supply is low.

As shown above, there are major shortage in rice production in the country; that is to say, demand for the product is higher than supply. This is an indication that there is a greater opportunity in starting the business.

If you are looking for a good profitable business to do, I will encourage you to look into rice farming in Nigeria as a business.

4 Snail Rearing

Farming in Nigeria, Snail Farming, Snail Farming in Nigeria

Snail farming is regarded as one of the most profitable farming business in Nigeria. Why did I say that? You can see for yourself below.

I bought a good size of ten snail at Sura, Lagos State, Nigeria for N8,000.00. In Ibadan, the same size of snail will have cost me between N4,000.00 and N5,000.00. What am I trying to say?

All am saying is that snail farming is a profitable business to venture in; not only do you have a ready made domestic buyers, but also international buyers are waiting to buy from you.

The good thing about these creature is that West Africa is home to its largest species in the world. In fact, majority of them are found in the thick tropical rain forest of Nigeria and Ghana; In addition, they are also found in Sierra Leone, Guinea and Ivory Coast.

5. Goat Rearing

Goat business in Nigeria, Profitable farming business, Farming

Goat rearing as part of farming in Nigeria is peculiar to the people of the northern part of Nigeria. Although the trade is associated to farmers in the north, few other farmers across the country also venture into the goat farming business; either for personal consumption or for commercial purposes (selling for profit).

There are different products that is derive from goat. Although, many of us like eating goat meat; there are still many other products that comes from goat that we use on a daily basis; such products includes – cheese, butter goat milk and few others.

6. Rabbit Rearing

Not really common in Nigeria but it is a good business to do. Those that are into the rabbit farming business are reaping huge profit.

Rabbit rearing as part of farming in Nigeria comes with the following benefits to the farmer or investor:

  1. The Reproductive system is fast;
  2. Rabbit farm do not require much space;
  3. The maturity rate of a rabbit is fast;
  4. Rabbit can be consume by all; no religious obstacle. That is to say, it has no taboo associated with it;
  5. Commercially, you do not need lots of capital to start rabbit farming; and
  6. It is a high profitable business because the demand is high.

7. Groundnuts Farming

Come to think of it, we all eat groundnut (except you have allergy to nuts) or use any of the groundnut products. In the first place, groundnut as a seed is very nutritious and at the same time, it is an important source of edible and low fat oil.

Are you looking to get into the groundnut business farming in Nigeria? If so, I have good news for you.

Presently, Nigeria is the largest producer of groundnut in Africa; and the demand for the product is high. In fact, Nigeria produces over 1.55 metric tonnes of groundnut annually but this is not even enough for the demand.

If you looking to start groundnut farming in Nigeria, I assure you that you will make good return on the product and its produces such as groundnut cakes, groundnut oil and groundnut butter.

How profitable is groundnut farming in Nigeria? Well…. the answer to that can be found in groundnut farming in Nigeria is a profitable business.

8. Pig Farming

Pig farming is referred to as the money making livestock aspect of farming in Nigeria. Why is this?

Simply because pig meet is in high demand. In addition, pig produce such as pock is a good alternative to beef. It is low in fat, that is to say, you are getting lower calories in pig; a great health benefit.

Important nutrients in pock are:
  1. Iron;
  2. Magnesium;
  3. Potassium;
  4. Zinc;
  5. Protein;
  6. Vitamin B6;
  7. Vitamin B12;
  8. Thiamine; and
  9. Riboflavin.

As shown above, these are essential nutrients that our body needs on a daily basis.

9. Fish Farming

Fish is in very high demand both in Nigeria and outside Nigeria each day; in fact, over 50 % of Nigerians eat fish or seafood related products everyday. From time to time, fish and its related seafood products such as Shrimps, Crayfish, Lobster, Salmon and many others.

Fish market is big and there are lots of opportunities to make money in it.

List of most common fish in Nigeria – for consumption and exportation are:

When looking to venture into the fish farming business, you will have to consider the following type of fish because they are of high demand both domestically and internationally.

  1. Tilapia: Although you may not know but Tilapia is the third most important fish after carp and salmon;
  2. Catfish: My favourite. As a matter of fact, it is the most common type of fish eaten in homes, hotels, restaurants and more local joints in the country. Additionally, catfish is the easiest type of fish farming to start;
  3. Mackerel: Popularly called Titus. As at today, Mackerel is not farmed but are caught directly from fresh water;
  4. Herrings: Popularly known as Shawa. The best selling imported seafood in Nigeria;
  5. Croacker;
  6. Stockfish

READ MORE: How to Start Fish Farming in Nigeria.

Other Business Opportunities in Farming are

10. Beans Farming

Bean

11. Plantain Plantation;
12. Maize/Corn Farming;
13. Cassava Farming; and
14. Pineapple Farming.

Business Opportunities in agriculture sector

As shown above, the level of business opportunities in agriculture sector in Nigeria is high; in fact, the kind of opportunity available in this sector can not be quantify. From different types of cash crop farming to animal rearing, there are profits to be made.

According to the report on export.gov website (summarized by us), the total local production of all the Nigeria agriculture products under review shortfall of market demand. According to the report, there are huge business opportunity in the Nigeria agricultural sector.

Where are the business opportunities?

The following information below shows where the shortfall are in some off the countries main farming produce. The analysis (in USD thousands) is the most up-to-date information as at the time of publishing this article.

1. Wheat:

Total Market Size: 1,379,000

Nigeria local production: 9,000

As shown above, the supply of wheat products is over 90% short of market demand. This is a good business opportunity in this area of agriculture.

2. Rice:

Total Market Size: 2,200,000

Nigeria local production: 1,000,000

As one of the most consumed grain, the Nigeria local production is very low; given rice to Nigeria importing more rice into the country.

As a rice farmer, you should be looking to step up your rice growing strategy. By doing so, you are creating a better business opportunity for yourself.

3. Seafood:

Total Market Size: 1,810,000

Nigeria local production: 1,135,000

Comprises of fish, shrimps and other aquicultural products has a slight shortfall compared to other exported farming in Nigeria products.

As shown above, the local supply of the seafood products covers around 62.7% of what the market is demanding for. This leaves a shortfall of over 35%.

Conclusion

As the world economy is growing, most leading expect around the globe has been given credit to farming; being an important factor contributing to most countries GDP. Nigeria is not left out.

As seen in the article, farming in Nigeria is one of the contributing factor to the nation’s wealth; and all these credit goes to Nigeria farmers.

I encourage Nigeria entrepreneurs to practice farming in Nigeria as a way of creating wealth; it present good business opportunities in the agriculture sector.

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