Are you looking to start a business for yourself? Then, you should consider one of these 10 lucrative farming businesses in Nigeria.
Many people may not know this, but farming is one of the most profitable and reliable business ventures anyone can invest in. The demand for farm products is very high, and the supply is still low. This is because the country’s population is high, and only a few people are willing to go into farming. But, if this is your interest today, read this guide till the end to learn about the 10 most lucrative farming businesses in Nigeria.
10 Lucrative Farming Businesses in Nigeria
Poultry farming involves raising domesticated birds such as turkeys, chickens, geese, and ducks. Poultry farming is one of Nigeria’s most diverse and in-demand farming businesses in Nigeria. It offers the finest opportunities to make money because there’s hardly any person who doesn’t consume eggs or chicken in the country, and the quick maturity of the birds makes it yield fast returns for the farmers.
So you can earn good money within the shortest time. The best part is that with over 160 million consumers of poultry farm products in Nigeria, the market demand will always be high, and you will always make sales from the birds or their eggs.
Commercial pig farming is another profitable livestock business because pigs are highly productive breeders; they can have up to 14 piglets in one birth. Your investment will keep increasing rapidly, and you may not need to repurchase fresh stock.
In addition, pork meat is said to be one of the most delicious red meats, so many people love it, and the market demand for it is also very high. Over 80% of the pork meat consumed in West Africa is imported. That is to show you there is a severe deficiency in the market that can work to your advantage.
Goat farming is also very rewarding, and it requires little capital. Goats are some of the most easy animals to rear. You can use any land, even your backyard, and they can roam freely, but goats do not eat anything on the floor.
Goats will happily eat yam peels, banana peels, grass and so on, but you can also keep them in a camp and provide good food that will meet all their nutritional needs. So feeding them is pretty easy, and they rarely get sick. In addition, once a female goat (doe) starts giving birth, it doesn’t stop unless you stop it. They give birth every six months and can have 2 to 3 kids in one delivery.
There’s nowhere in Nigeria where goat meat is not in demand, but commercial goat farming is usually done in the north, so the supply can not meet the demand; that is why there’s still so much for you to gain if you consider this business.
Snail farming is one of the least considered or recognised in the livestock farming business because many people do not understand its great potential; it is one of Nigeria’s most lucrative farming businesses. It can yield more profits than many other animal farms, and it offers the best opportunity to make money within a short period.
Snails are quite expensive in the market because they are usually scarce during the dry season, so imagine if you could have an endless production of snails to meet the high market demand in Nigeria, especially during dry seasons. Of course, this is a sure part of becoming a successful farmer.
When talking about the most diverse and profitable farming businesses in Nigeria, cassava farming will always stand out; for so many years, cassava farming has been a source of food and means of livelihood for millions of Nigerians
It is one farming model that Nigerians can not survive without because there are so many cassava farm products, such as garri, flour, cassava starch, amala, animal feed, caramel, etc., and there is so much to gain from this business.
At the rate with which the population of Nigeria and Africa is increasing, the demand for cassava farm products will soon hit the roof, and farmers can generate higher revenues. If you start your cassava farm now, you will be one of those farmers already earning from this opportunity.
Another lucrative farming business that can help you create wealth in the easiest way possible is plantain farming; you only need to get land and plantain suckers; it is not expensive and doesn’t require too much attention.
The fantastic thing about this farming is that plantain never dies, it will continue to spread, and even when you choose to get rid of them, you can still sell them as suckers. So there’s no aspect of this farm that will not bring you profits.
Like cassava, plantain is also used to get other foods people love, such as plantain flour, fried plantain, roasted plantain, amala, etc.
Of course, we can’t talk about the most lucrative farming businesses in Nigeria without discussing rice farming. Nigeria is already the largest producer of rice in West Africa and the 3rd largest in Africa as a whole; however, Nigerian rice producers are still unable to meet the market demand even within the country because people consume so much rice.
The estimated local demand for rice in Nigeria is about 5.5 million tons. So even though Nigeria produces more than 50% of the rice consumed in the country, they still spend several billions of naira every year importing rice to the country. So you can see that rice farming is one of the most lucrative farming businesses anyone can think of in Nigeria; you, too, can go into it and enjoy its benefits.
You will never know how profitable and easy maize farming is until you try it; it is one of the most stress-free farming businesses you can venture into. One good thing about this farm is that everything happens so fast; you can plant your maize, harvest it, and sell it within 3 to 4 months, and because this plant is only available in seasons, buyers are always ready and anticipating the harvest. So you will always make quick sales.
Another exciting thing is that if you do not sell your maize when they are fresh, you can sell them when they are dry, so you can make sales at your convenience with so much profit.
In addition, it is possible to use maize and cassava for intercropping; most experienced farmers can do this easily because they will harvest the maize early and continue the rest of the farming year with the cassava farm. If you do this, it will help better maximize your farmland and make more money.
Nigeria imports a lot of fish, but there are still many kinds of fish grown in the country; however, many people like catfish because it is very delicious.
Fish farmers also prefer catfish because it grows fast and has high market demand. With the high population of restaurants, bars, football centres, hotels, and markets in Nigeria, the demand for catfish is always high every day; it doesn’t go out of season.
Aside from rice and cassava products, another highly consumed farm product in Nigeria is beans; many people believe it is a good source of protein, and people love it because it offers a variety from the regular carb diet.
However, other geopolitical zones in Nigeria have not fully harnessed the potential of bean farming; only the northern part of Nigeria is fully involved in it, and the supply is not enough to meet the demand. So, wherever you are in Nigeria, you can own a bean farm; you don’t have to reside in the north to be able to do this because there are no special regional requirements for the growth of beans.
If you have always desired to become a farmer in Nigeria, the above list contains the best and most profitable farming businesses in Nigeria you can choose from. Nigerian farmers have many options to explore, and farming at this age is very different from before; it is now more organised and stress-free as long as you have all the resources and knowledge you need. Also, there are many loan opportunities you can take advantage of to establish your farm.