Agriculture: 10 Lucrative Farming In Nigeria You Need To Know (1)
10 Lucrative Farming In Nigeria You Need To Know
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 every family 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 values.
Any entrepreneur in Nigeria who goes into Rice Farming and get it right 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. A farmer who is able to invest in large scale Rice Farming in Nigeria and produced 100,000 Bags of processed Rice in a year, 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) You can achieve the above figures conveniently with less than Two hundred million Naira ($1.3 Million) capital investment!
I’m currently looking for who to partner with in this. If you have the cash, I have the logistics and good plannings to achieve that. Serious investors only!
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 among the citizens — I think if one is the King the other should be the 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 Thousands of Naira 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. What we currently have are few badly managed, scantily equipped poultry farms here and there.
I’m yet to see a full fledged, high tech Poultry Farm as it is in The USA and Europe except Obasanjo’s Farm which I don’t think is currently in serious business.
Any serious entrepreneur who is able to fire this up will have huge profit to contend with. The reason is because Nigerians eat chicken more than snakes do and 70% of our consumption still based 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 will earn least N80 x 1,000,000 = N80,000,000