Top Most Lucrative Agricultural Business Ideas In Nigeria
It is said that the agricultural sector contributes just about 20% to Nigeria’s GDP. However, we all can agree that it is a sector that is yet to be harnessed maximally in Nigeria. Essentially, more persons are being advised and encouraged to participate in agriculture. Nigerian governments are doing whatever they can to support agriculture in Nigeria. As a result, we want to show you the most lucrative agricultural business ideas you can start in Nigeria today.
One thing we know is that agriculture will continue to remain a very big part of every economy. This is because, agriculture, amongst other things, deals with what man eats. And, we will continue to eat for as much as we are alive. As a result, building a business around agriculture is advisable. If you are considering that, we have decided to show you the lucrative agricultural business ideas you may wish to consider today.
Most Lucrative Agricultural Business Ideas In Nigeria
Some of the business ideas that have proven lucrative in the agricultural sector include:
1. Fish Farming
There are many kinds of fish growing in Nigeria, however, many people like catfish because its meat is juicy, soft and tasty. However, not everyone knows that this fish can be grown quite easily even at a small fish farm, you can even organize catfish farming at home.
There’s a very high demand for catfishes all year round. The demand is highest from football viewing centers, restaurants and market women who buy in bulk and sell in retail either as live catfishes or smoked catfish. Individuals also demand catfishes too for personal consumption. With catfish farming, you’ll never have any problem selling your products.
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2. Rice Farming
Nigeria is the largest producer of rice in West Africa and the third in Africa after Egypt and Madagascar producing about 3.6 million metric tons on the average annually. Interestingly, Nigeria still falls short of meeting its local demand which is placed at about 5.5 million tons.
Considering the fact that Nigeria has a huge market for rice, if you are looking for a lucrative agricultural business idea in Nigeria, you need to seriously consider entering the rice farming business which is undoubtedly one of the most profitable businesses in the Nigerian agricultural sector.
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3. Snail Farming
Snail farming is considered to be one of the most lucrative agribusinesses you can start with low capital in Nigeria today. Yet, it is one of the most neglected animal rearing business in the country. Snail farming in Nigeria provides one of the finest opportunity to make money within a short period of time.
Snail farming is a niche and unusual business type of business. It’s very expensive to buy snail to eat because snails are very dormant during the dry season, they become increasingly scarce during this period and the market is starved of adequate supply until the next wet season.
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4. Cassava Farming
With the increasingly diverse use of cassava products in Nigeria, cassava farming is getting more lucrative with every passing day. This farm product has always been a source of lively hood and food for millions of Nigerians. 90% of Nigerian households consume cassava products every day. Some of the popular meals made out of cassava are: garri, wheat-flour, animal feed, commercial caramel, and a lot more.
As the population of Nigeria and Africa as a whole continues to grow, the demand for cassava products will continue to skyrocket, leading to higher revenues generated by cassava farmers. If you’re looking for an agricultural business that would ensure you always almost sell out all your harvests, cassava farming is one great farming business to start.
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5. Poultry Farming
Poultry farming is the process of raising domesticated birds such as chickens, ducks, turkeys, and geese for the purpose of farming meat or eggs for food. Also, poultry Farming in Nigeria is probably one of the most lucrative farming business you can do. 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.
Which of these Lucrative Agricultural Business Ideas have you ever thought of doing one day? Which one are you currently considering to go into?