Top 10 Lucrative Farming Businesses

Goat rearing in Kenya

Farming in Nigeria has taken a dramatic turn to better directions in recent years, creating jobs and opportunities for Entrepreneurs who dare to go into Farming Business. Millionaires are made every year through Farming in Nigeria and there is simply no end to the prospects of creating more wealth in Nigerian Farms in the coming years.

There are good reasons why Farming in Nigeria is currently doing well, and understanding these reasons will help any serious Entrepreneur (no matter where he comes from) to think seriously about setting up Farms in Nigeria. There isn’t any other African country where Farming is as viable as it should be in Nigeria in terms of productivity and profitability. And there is no other country where farmers are more advantaged as they are in Nigeria — take a look at my top five reasons you need to start Farming in Nigeria.

5 Reasons Why Farming in Nigeria is Irresistible

(1) Nigeria has a huge population of over 150 Million people, twice more than the populations of Zimbabwe and South Africa combined. The entire population of Nigeria depends on staple foods produced from farms and other farm produces for their daily meals and sustenance — and more than 80 percent of Nigerians buy their Farm Produce from the market.

(2) Nigeria has very large expanses of fertile farmlands laying fallow for nothing. Nigeria Land area when measured in sq. km is 910,770. The Land area of any country is the country’s total area, excluding areas that are considered to be water bodies. So, Nigeria has one of the biggest expanse of Land in Africa of which 70 percent is available for Farming.

(3) Nigeria Government is seriously turning it’s attention to promoting Farming in Nigeria to help boost food productions in the country and minimize foods importation. The government is willing to assist any would be Farming Entrepreneur with the necessary supports and logistics. But not funds

(4) Nigerians have very high purchasing power, far more than any other indigenous Africans — we buy things here and we pay cash! Talk about parties, Nigeria is the most merriment people on earth — the foods used for parties and merriment in Nigeria can feed four other African countries.

(5) By the time Nigeria attain it’s full capacity utilization is agriculture, Farming in Nigeria will become great foreign currency earner more than as it already is. The implication is that Nigerian Farmers will be able to earn in Naira and in Dollars as well as Euros and Pound Sterling.Â

The prospect for Farming in Nigeria is high it. Having said that, let’s take a closer look at some of the types of Farming that can do very well in Nigeria.
1. Rice Farming – Nigeria has one of the world’s highest Rice consumption stat. Rice is by far one of the most popular staple food among Nigerians, almost everyone eats rice daily in Nigeria. In 2011 alone, Nigeria spent N991 Billion on Rice importation and the rice we import is said to be nothing less than 10 years old in storage. That means we spends billions buying Rice that has since lost it’s nutritional value.
Any Entrepreneur in Nigeria who go into Rice Farming is sure to be smiling to the bank. A bag of Rice is currently sold for N8,000 to N10,000 depending on the quality. Any Farmer who is able to invest in large scale Rice Farming in Nigeria and produce 100,000 Bags of processed Rice in a year and sell at wholesale price of about N7,000 per bag, he will be making 7,000 x 100,000 = N700,000,000 ($5.5 Million)

2. Cassava Farming -The popularity of cassava as the major source of food for Nigerians dates back to ages. Between Garri and Rice, it’s hard to tell which one is the most popular as both are the most consumed food staples in Nigeria — I think if one is King the other will be Queen.
A bag of Garri costs almost the same as a bag of rice, and apart from Garri — there are tens of other food stuffs that are processed from Cassava in Nigeria. The introduction of the high yield species of Cassava has made it possible for Nigerian Cassava Farmers to produce more Cassava per plot. Nearly every land in Nigeria is good for growing Cassava and 1 Acre, when properly planted and managed can produce N2,000,000 worth of Cassava in a year!

3. Plantain Plantation – One thing I like about Plantain is that when planted once, it keeps producing year in year out for eternity. Like Rice and Garri, Plantain is widely consumed in Nigeria and you know — any food that is popular in Nigeria is always a huge income earner due to the population of the country.
I really haven’t seen Farmers in Nigeria taking advantage of the opportunity in Plantain Farming to create wealth for themselves. Plantain is highly priced in Nigeria and is always in high demand all year round. Fry it, Boil it, Roast it — it will never get angry with you, that’s how liberal Plantain is. I can tell you, Millions of Naira is currently lying fallow untapped in this sector of Farming in Nigeria.

4. Poultry Farming – Everyone knows how ‘Cashy’ this one is, it doesn’t need much introduction and yet it’s still not fully tapped in Nigeria. What we currently have in Nigeria are few badly managed, scantily equipped poultry farms here and there. I’m yet to see a full fledged, high tech Poultry Farm in Nigeria as it is in The USA and Europe except Obasanjo’s Farm
Any serious Entrepreneur who is able to fire this up will have huge Cash profit to contend with. The reason is because Nigerians eat chicken more than Snake and 70% of our consumption still base on importation. The egg is yet another goldmine!

5. Pineapple Farming – Money is sweet, everything sweet is money, and Pineapple is sweet – Ask any Australian Farmer and he will tell you how huge the income in Pineapple Farming is in their country. Any juice maker that doesn’t have Pineapple flavor variety in his product line is not yet in business. That tells you how popular Pineapple is, not only in Nigeria but Worldwide.
Nigeria seems to have better soil for Pineapple Farming than Australia where Farmers are making it big in the business. A Pineapple sells in Mile-12 market in Lagos for about N200 — If you are able to harvest one million in a year, you’ll be sure of at least N80 x 1,000,000 = N80,000,000

6. Beans Farming – A bag of Beans costs twice more than a bag of Rice and Garri the Northern Nigerians are making it big in Beans Farming, supplying almost all Nigeria and beyond. But one thing is that, this same Beans also can do very well in the South East, South West, and South South Nigeria soils. So why only the North?

7. Catfish Farming – Catfish Business is really hyping in Nigeria right now but how many are really getting it right? Get it right and you’re in money. A single Catfish sells for N700 in Restaurants and about N400 in open market.

8. Goat Rearing – It’s only in the North that Goat is reared in commercial quantity. I don’t know why we so looked down on Farming Investment in the South even though there are millions to be made in this business. Why would you chose to sell used shoes in Oshodi and make few thousands of Naira yearly than to engage in productive Farm Business and make millions of Naira? In The USA and Australia, Farmers are among the Richest people – Get involved in professional Goat rearing and make money for yourself.

9. Snail Farming – I see Snail Farming really picking up in Nigeria very soon — but if you don’t hurry up, others would have made the money before you realized what you have missed. The potential in this business for you is about N50,000,000 Annual revenue.

10. Maize Farming – You never know the profit in Maize Farming in Nigeria until you try it, and one thing I like about it is that everything happens fast. It takes less than Four months between planting and harvesting.

Sourced from here

Photo Credit – Ace Africa

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12 comments

  1. I have always known this and this article even reveals more! This is more than a write-up. It is a real time biz proposal with undoubtful viability.
    Mr Olawale, how much do you think a ton of cassava cost?

  2. This is a nice piece but you could have done better by telling us places where one can plant these crops as in the case of beans because most people think one can only plant beans in the northern part of Nigeria.

  3. Inshort we nigerian graduate should stop wasting our time and go into modern farming! For a better chance of life

  4. Nice piece but somewhat exaggerated.” A bag of Beans costs twice more than a bag of Rice….” and while describing how profitable snail farming is, he said that” The potential in this business for you is about N50,000,000 Annual revenue”

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