Are you considering going into the farming business? Here are 20 farming businesses in Nigeria that will rake in big bucks for you.
#1. Rice farming: More than half of the people in the world eat rice, yet the available supply of rice falls short of the high demand for it. Venturing into rice farming is sure to yield high returns on your investment.
#2. Cassava farming: You can become a millionaire by farming cassava. This root crop which is the staple food for over 600 million people in the world has a high yield potential with an acre yielding up to 4-8 MT.
# 3. Plantation farming: A plantation is a large agricultural property dedicated to planting a few crops on a large scale. Some of the most profitable crops to grow on a plantation in Nigeria include cocoa, cashew, cotton, coffee, etc. Huge profits in plantation farming come from the export of crops.
#4. Poultry farming: High demand for poultry products, relatively low startup capital, and rapid returns on investment make poultry farming a great agribusiness.
#5. Pineapple farming: This sweet fruit crop is easy to grow and the demand for it is very high. So, you can venture into pineapple farming and make your millions from it.
#6. Beans farming: After rice and cassava, beans, a legume crop rich in protein, is the third most consumed crop in Nigeria and other West African countries. Beans farming offers high local demand and high regional export potential.
#7. Catfish farming: Many people eat fish for a variety of reasons including maintaining good health. This high demand for fish, especially the popular catfish, makes fish farming a very lucrative business
#8. Snail farming: There is high demand for snail meat as it has high nutritional value and a unique taste. You too can cash in on this opportunity by starting your own snail farm.
#9. Pig farming: A female pig can potentially birth up to 10 piglets at once. Couple this prolific nature of pigs with a high demand for pork in Nigeria, and you have a money spinner with an investment in pig farming.
#10. Goat rearing: A lot of Nigerians consume goat meat daily in a variety of local dishes. With a relatively low startup capital, a goat farm yields high returns.
#11. Maize/corn farming: This cash crop can be planted in any part of Nigeria. When done right, maize farming is a very profitable venture.
#12. Watermelon farming: This juicy fruit crop is planted in the Northern as well as the Southern parts of Nigeria. Watermelon farming is highly lucrative because of the relatively short time it takes to go from planting to harvest. Within 85 days, the watermelon fruit reaches full maturity.
#13. Quail farming: This is one of the most lucrative forms of poultry business due to the high demand for quail eggs. Quails, unlike other poultry birds, are highly productive, strong and disease resistant making quail farming a low risk business.
#14. Shrimps farming: An $18bn global industry, shrimps farming is a very lucrative seafood venture. The local demand for shrimp is high especially in the retail chain and hospitality industries.
#15. Cabbage farming: A sizable head of cabbage goes for about N400 or N500. In the dry season the demand for cabbage is higher while supply is low which leads in an increase in price. To maximize profit aim to have ample supply of this vegetable in the dry season.
#16. Yam farming: A small 100 by 100 plot of land can produce up to 10,000 tubers of yam, and each tuber can be sold at N200, farm price. Do the Maths, and you will realise that commercial yam farming is good business.
#17. Carrot farming: This vegetable is widely consumed across Nigeria making it a very financially rewarding farming venture. It also has a relatively short farming span of four months which ensures quick return on investment.
#18. Green vegetable farming: Most green vegetables like water leaf, pumpkin leaf, and green leaf can be harvested within two weeks of planting making this a low capital yet high yield business.
#19. Ginger farming: The local and export value for this spicy and highly medicinal crop is high with potential returns of over 300%.
#20. Soybean farming: A lucrative crop because of its numerous local and international uses, soybean is very easy to grow and thrives in most soils found across Nigeria.