11 Hottest AgricBusiness Opportunities In Nigeria
- CASSAVA FARMING
Over the years, cassava has transformed from being a subsistence crop to an industrial cash crop, as it is being processed to products such as starch, flour, glucose and ethanol. This transition has placed demand on cassava, thus creating opportunities for youths, entrepreneurs, marketers and industrialists.
Cassava cultivation is about the cheapest in that it requires minimum cost of production, with or without fertilizer, cassava grows and produces tubers, though fertilizer enhances greater yields. A revenue of 300k can be realised from 1 hectare of cassava within 10 months.
One of the most profitable businesses you can go into if you are interested in the agric sector is to go into plantain farming. The basic thing you need to do to get started with your own plantain farm is to secure fertile farming land, prepare the land, get a hybrid cultured suckers and then cultivate your plantain.
One good thing about plantain farming is that once you are able to get started, the farm can be sustained for over 3 decades without sourcing for new suckers. Plantain farming business can make you millions within a year
Imagine having 1 hectare (5 acres) of plantain, with 900 hybrid cultured suckers with these suckers, you can be assured of 99% survival rate, uniform growth and uniform harvest.
Assuming 900 suckers produce 850 bunches
A good bunch goes for at least #800 (price can reach #1,500 per bunch)
Your revenue will be 850 bunches multiply by #800 =N680,000 for the first harvest
Your plantain suckers must have increase twice
Assuming 1,700 bunches was realised for the 2nd year
Revenue= 1,700 multiply by 800 = N1,360,000 this continue for years.
- CASHEW FARMING
During the past decade, the production of cashew nuts in Nigeria has increased almost six-fold from 30,000 tonnes in 1990 to 176,000 tonnes in 2000. Cashew export and local processing of cashew nuts have also increased three folds.
Nigeria has recognized the potential economic value of cashew and has made a concerted effort to improve production of the crop. Every part of the fruit from the apple to the nut has very high economic value both at the local and international market. 3kg can be generated from a tree in the first 3 year. Revenue of 600k can be made within the first year of harvest just by selling to the local agents. This could double if sold directly to the Indian merchants.
- RICE FARMING:
This tend to be gaining much recognition among other kind of food/cash crops in Nigeria and it can be traced down to the banning of imported rice in Nigeria. Rice as the highest demand in Nigeria Market today and it simply because almost every Family eats rice in a week, some daily; and lots more. Also rice is considered the best recipe for most of Nigeria Outings, ceremonies, celebration, anniversary and any kind of special gatherings. Having this understanding as a farmer will go a long way to help you make a right choice, The amazing fact I was able to draw from my market research on Rice Farming in Nigeria is that most times when the price of Rice goes in, it doesn’t stop the demand from coming in more and more, I was really touched when I heard this from rice farmers, this shows how lucrative the business is and how marketable it is as well, recommend rice farming for anyone reading this post right now. It is a worthy investment and return on investment is high, another law of agriculture “No resources is wasted” also works fine in rice farming, The Rice cob referred to as Rice Bran, is a covering on the rice and it is of huge benefit to livestocking farmers and feed manufacturers, which means as you make money from your rice farm; selling the rice, the by-product is also for sale so no waste product, can you imagine that?
- PIG FARMING
Piggery is another aspect of farming in Nigeria that is making smart investors huge money. Despite the huge profitability of Piggery, many Nigerian are still overlooking this goldmine because of ignorance of how it works. While some don’t just get the fact that it is a big business many who engage in it do it as part time business but if you can engage in this business fully, you are sure of smiling to the bank very soon. Considering how fast pig reproduces, it wouldn’t be a very much big deal to come up with 100 pigs in a year.
A fully grown Pig goes for as high as N80,000 depending on the weight. Now Imagine for a year you are able to rear hundred to maturity, you will be making N8 Million from the sales. If you can take it higher – lets say like 2,000 pigs in year, you will be talking of N16 Million.
You can also make money from the sales of weaned pigs (6-8weeks) which is sold around N7,000-N10,000 depending on the breed.
To ensure healthy farm, you need to make sure the piglets you are about to start your farm with are health. Pigs, like all animals, must have constant access to clean fresh drinking water. Cost of feeding pigs is not expensive compared with other farm animals. There is nothing as good as being in business you are sure of profit; Pig farming is one of such business.
Poultry business is a very lucrative business in Nigeria; it is divided into Hatchery, Layers, Broilers and Turkey. There is no barrier to entry in poultry business; the size of your poultry farm is determined by the available capital for investment. Festive period such as Easter, Christmas and New Year increases the demand for poultry products. However, everyday market is available for poultry products ranging from egg to meat. Hotels, Guest houses, Fast foods, confectionaries, etc, are major customers for poultry products.
- ANIMAL FEED
Farmers in Nigeria are constrained with choosing the right feed for their farm animals, with the increase in the establishment of farms across the country with the aim of providing meat products as well as food nutrient. Feed composition is essential for the profitability of any animal farm. The market for animal feed is increasing day by day, feed that can be produced are Broiler starter, Broiler finisher, Layer starter, Layer finisher, Catfish feed, etc.
I am personally impressed with the change in the Fish farming industry, Nigeria as actually transform from just a mere “Fisher men” holding into a :Fish Farmers venture and this makes it more impressive. The beauty of Fish farming investment in Nigeria is that it is not capital-intensive, which means it requires a low capital investment to start up. Another wise tip most Nigerians are using is to figure out a riverine/water logged area and establish an earthen Fish pond which does not require much capital to start up and within your 1st 3 to 4 month, you will be counting your profits, Fish are more rugged than Poultry Birds as they are easy to handle and manage without loss, most people that tend to overlook the primary knowledge are the ones that run at loss, if you want to start your Fish farming Business, you need to acquaint yourself with basic knowledge.
Another beautiful aspect of fish farming is breeding new fishes “fingerlings and juvenile”, with the huge demand for catfish, tilapia fish and other conventional fish breeds, most farmers area venturing into fish farming and this as make the fish experts to focus on producing new baby fishes which is what the fish farmers buy to breed to maturity. One female Fish can have up to a million egg and it is easy to fertilize it, especially with the help of technology today, new fishes can be hatched within 24hours, with little efforts, now if you produce 500,000 fingerlings and you sell for #6 or #8 as the case maybe, you know how much you are going to make ?
- OIL PALM PLANTATION:
Oil palm is still one of the most treasured cash crop in Nigeria presently, earning us foreign exchange for decades. If you have money to invest into Agriculture and you want to wait for your profits to build up on a large scale farming that can call in future opportunity and establish a commercial farm holding then oil palm is the best choice for you. East and western part of Nigeria are the best kind of soil for Oil Palm to do well and you can buy large expanse of land for this business and get good return on your invest, unlike before when oil palm take long to reach maturity, science and technology as changed everything and make life easier.
- RUMINANT ANIMALS (CATTLE, GOATS, SHEEP): If you are in the northern part of Nigeria then you will understand the power of this kind of business. Sheep for example sells faster than anything during the sallah period and this has been the target for the breeders, the beautiful thing about the ruminant livestock business is that; you spend so low on feeding, and they are so rigid and suffer hard and diverse climatic conditions making them to be less prone to disease and health disturbances; a cattle sells for up #400,000 and above base on the size and some other factors, these are part of the ignored business that are making millions in Nigeria Agricultural industry, if you have time and capital you can invest and run your own farm holding in a modern style with an abattoir for processing meats and selling them, at a better price.
- MONOGASTRIC ANIMALS (RABBIT, SNAILS, GRASSCUTTER):
Health mindful individuals are now on the outlook for meats that contains low fat especially the cholesterol fat which as caused so many unhealthy experience for so many people, due to this white meat are getting more recognition day by day, and we don’t seems to have much of them like the one we have in the case of the Red Meat, but the few ones are helpful.
Rabbit; particularly serves a good option in this case and it is making cool cash for rabbit farmers, the beauty of rabbit farming is having to spend so low on their feeds and feeding ad getting high return on the investment, Rabbit farming is ridiculously low in terms of capital investment so I recommend it for you to start in 2016 and you can also make your profits.
Snail Farming : Snail is yet another white meat that is highly recommended by the health specialist for those who wants to loss some calories and stay healthier, snail contains ridiculously low fat that can be of good use to the body, it is used for body treatment and for this reason many people are looking forward to buy snail in the market today, this is a wise choice for you to start; the Snail best part is that you can run your own snail farm even while having other businesses in place, it does not require much investment to start-up and the return is huge.
GrassCutter : Grasscutter is not a kind of common meat in the modern cities of Nigeria before but with the influence of technology and science that has made it possible to breed them in a confined and scientist/domestic atmosphere, most grasscutter lovers are now buying them for their meal and recipes. Grasscutter just like rabbits requires low investment to start up and low cost for feeding as they feeds on most domestic left over food, food stuffs, cereals, forages, some grasses and lots of their feed are handy and easy to get, Restaurants and hotels are also big time buyers of grasscutter meat and you can reach out to them and make your money even as a student or a government worker. You only require a family made up of 1 male and 4 female grascutter to start up a grasscutter farm.
If you don’t have the time to manage them you can employ the service of experts and you pay them on agreement terms.