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
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 over 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 are so looking 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. A full grown goat sells for between N15,000 to N40,000
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 realize what you are missing. 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.
11. Cattle farming
Cattle farming is a business that appeals to people who the needed vacant land and resources to make it work. Now as long as milk, meat, leather products, etc are in demand, cattle will remain a profitable business.
For those who are interested in this cattle business, it is important you know that there are several avenues to make money from this business.
You can either choose to breed bulls or cattle for their beef or go into full scale diary farming (milk products). In fact, you can also make money by selling their dungs to organic fertilizer production companies.
12. Pig Farming
Running a piggery is another profitable venture with less competition. Most people shy away from rearing pigs because of religious beliefs and the capital + labour investment it requires.
13. Worm farming
Worm farming is the easiest way of turning fruit and vegetable scraps into a great potting soil or soil amendment for your house plants or garden. In fact, this is a business that most people are not even aware of.
Do you know that worms have an important role to play in maintaining soil fertility? Well, know it today that there is a market for worms. Worm farming is specifically vital and useful for people who will like to compost their food scraps but do not have vacant for backyard compost bin.
14. Guinea pig farming
Breeding guinea pig is very lucrative and rewarding because they are very prolific. First of all, mating them is very simple. Rearing them is as well easy and at the end of the day, you will smile as you watch these little creatures grow and develop. Just ensure that you will be capable of providing good homes for the babies.
15. Rabbit Farming
Rabbit rearing is a business that requires less space and the farming can be done anywhere; from a standard farm, backyard, on terrace or even at home. The capital investment for this venture is very small and the profit potential is huge.
Reasons Why Farming in Nigeria is Irresistible
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.
Nigeria has very large expanses of fertile farmlands lying fallow for nothing. Nigeria Land area when measured in sq km is about 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.
Nigerian 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/investors with the necessary supports and logistics.
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 yearly can feed four other African countries.
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.
The prospect for Farming in Nigeria is so high that only a fool will ignore it. Having said that, let’s take a closer look at some of the types of Farming that does very well in Nigeria.