The agricultural sector is one of the most flourishing sectors of the Nigerian economy. With proper strategic planning, any individual with a basic knowledge of farming and manufacturing operation can start a profitable agriculture business.
One of the best factors of this investment is that you don’t need a huge capital or farmland. If you have a little piece of land in your backyard, you can still plant some crops in small or vertical containers to get the most out of your space.
1. RICE FARMING
Nigeria is one of the highest consumers of rice in the world, the largest producer of rice in West Africa and the third in Africa after Egypt and Madagascar. We produce an average of 3.6 million tons annually which still falls short of meeting the local demand which is placed at about 5.5 million tons.
More than 50% of the families in Nigeria eat rice daily, giving us a huge market for it. Rice farming is one of the most profitable businesses in the Nigerian agricultural sector, and it has been stated that an investor in a large production of rice can make more than $3million yearly
2. CASSAVA FARMING
With the increasingly diverse use of cassava products in Nigeria, cassava farming is getting more lucrative with every passing day. Cassava has been a source of lively hood and food for millions of Nigerians. 90% of Nigerian households consume cassava products daily. Some of the popular meals made out of cassava are: garri, wheat-flour, animal feed, commercial caramel, and a lot more, with its increasing rate of consumption, cassava farming is more and more lucrative each passing year.
3. POULTRY FARMING
The consumption of chicken in Nigeria is very high, and there is already an established market for poultry eggs and meat with huge demand. The quick maturity of chicken presents one of the finest opportunity for entrepreneurs to make good money within the shortest period of time possible.
With over 160 Million consumers in Nigeria alone, the market is always there waiting to be tapped. The demand for poultry products such as eggs is so high that people go about every day looking for where to get the supplies needed.
4. SNAIL FARMING
Snail farming is considered to be one of the most lucrative agribusinesses you can start with low capital, it provides one of the best opportunities to make money within a short time. Yet, it is one of the most neglected animal rearing business in the country, with a high demand. An investment in snail farming is definitely a huge investment.
5. HONEY BEE FARMING
Selling honey is a lucrative business for people, however the only suppliers are limited to those who aren’t allergic to bee stings. Honey bees can produce lots of honey, which means lots of sales. It is also a low capital investment and little space to start.
Honey is one of the oldest sweeteners on earth, and also has many health benefits and uses.
If you’re looking to venture into a new business, or start a side hustle, agriculture is one of the bet choices you can make. Thios sector currently contributes just a little over 20% to the overall GDP of the country, and it can be much more.