Before the discovery of oil, agriculture used to be the major source of income generation for Nigeria as a whole. However, with time, the government shifted focus, greatly stunting its progress since the 80s. In reality, agriculture remains one of the most prominent industries with a huge market potential to take the Nigerian economy and whole world by storm. Also, you can benefit from this as an individual by investing in agric businesses in Nigeria. If your business does well, you are sure to make a lot of money.
What are the best Agric businesses in Nigeria?
Here is a list of some of the best agric businesses in Nigeria at the moment:
1. Rice farming:
Since the banning of rice importation by the government of Nigeria, rice farming has boomed for farmers. Also, Nigeria is currently the largest producer of rice in Africa, overtaking Egypt recently, with about 8 million tonnes annually. This number is more than half the total amount of rice produced by Africa annually. However, Nigeria still doesn’t meet local demand, therefore making rice expensive in the country.
Currently, rice is one of the most profitable agric businesses in Nigeria. Therefore, if you’re looking to enter into agriculture, you should really consider rice farming.
2. Cassava farming:
Cassava is a very valuable product in Nigeria due to its several uses. Therefore, the business of agricultural farming is getting more profitable by the day. Cassava produce has been a source of livelihood for a majority of the Nigerian population, and you can take advantage of this by making supplies. Furthermore, some common examples of these products include garri, animal feed, wheat flour, etc.
3. Poultry farming:
Chickens, ducks, geese, turkeys, and birds, in general, would always be in high demand for their meat or eggs. Therefore, this puts poultry farming as one of the most lucrative agric businesses in Nigeria that you can do. Also, another added advantage is the fact that the cycle for this bird growth is much shorter than planting. In all, it gives room for quick money both in selling bird meat, and their eggs.
4. Snail farming:
the fact that snail farming is one of the least engaged agric businesses in Nigeria, creates a lot of room for opportunities. In reality, this business is very lucrative, allowing you to earn money within a short time. Also, if you can successfully grow your snails in the dry season, you’d make a lot of money.
5. Catfish farming:
As a Nigerian, you should not be shocked to see catfish farming on this list. The fact is Nigerians love catfish due to their sweet and tasty nature, therefore, keeping a high demand for the animal all year long. Also, catfish farming is very easy to set up as it can be done in your home. In addition, it can be sold in different types, including smoked, or alive and is used in so many delicacies in Nigeria.
6. Maize farming:
Maize farming is one of the more popular businesses in Nigeria. They could be sold independently or used to make other finished products at home. Also, you could supply maize to companies who use them for production and earn handsomely. Some of its use include corn oil, custard, pap, cornflake, alcohol, and many more.
7. Pig farming:
Like it or not, pig farming is very lucrative, and since they procreate easily, you aren’t going to have problems running short of pigs. Also, to put it in context, the pork market is worth over $3 billion in West Africa alone, with the majority being met through importation. This leaves quite some space to be covered by any pig farm tycoon ready to rise up to the challenge.
8. Honey bee farming:
If you have little space in your yard, and do well with bees, then you can try out honey bee farming. The business is lucrative, especially if you can muster enough to sell 100%, natural honey.
9. Pineapple farming:
Pineapple farming is one of the most lucrative businesses to involve in. There’s a huge demand of pineapple and its juice both locally and globally and the supply is low as compared to the demand. You need not bother about how to get started with, simply contact Davidorlah Farms has a sustainable farming assurance (SFA) that will not only get you a farmland but also help manage your pineapple farm for a period while you get returns on your investment.
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The agricultural business section in Nigeria is relatively untapped, with lots of vacuum being filled by importation. Therefore, if you can meet local demand for these goods, then you would earn a lot within a short time.