Top 10 Profitable Agricultural Investments In Nigeria That Will Increase Your Bank Account
Agricultural investments in Nigeria have really taken a dramatic positive turn in recent years, creating great investment opportunities for entrepreneurs. If you dare to invest into farming business in Nigeria, you are on course to making yourself millionaire with proper guidance. Every year in Nigeria, different people earn in millions from their agricultural investments in Nigeria.
Gone are the days when you can depend on the government or private institutions for jobs in order to earn a living. There is certainly no end to the prospects and potentials that re found in agricultural investments in Nigeria. If you invest in agriculture, there is no end to your earnings, provided you apply the best farming practices.
There re many reasons why agricultural investments in Nigeria is very profitable and. Your ability to understand these reasons will greatly help you to investing in agriculture. You really need to seriously consider setting up your own farm in Nigeria. Below are my reasons why you need to agricultural investments in Nigeria.
Why Agricultural Investments In Nigeria?
- There is no country in Africa where farming is more viable than it is in Nigeria in terms of profitability and productivity. With the population of Nigeria at over 200 million, there is a ready market to sell your farm produce. The entire population hugely relies on agriculture for their staple foods.
- Agricultural investments in Nigeria are hugely supported by large expanse of land laying fallow across the country. Nigeria has a large land area measured about 910, 770 sq km. In Nigeria, 70% of land is available for farming.
- The purchasing power o Nigerians is far more than any other indigenous Africans and this favors agricultural investments in Nigeria.
- When the Nigerian government fully implements their diversification policy, you will really be wishing you have invested in agriculture. By that time, Nigerian farmers can be able to earn in foreign currencies.
List Of Profitable Agricultural Investments In Nigeria
The prospect of agricultural investments in Nigeria is so high that you would be foolish to ignore it. Now, let us consider some of the agricultural investments in Nigeria that is really doing very well.
Rice farming business
At the top of the list of profitable agricultural investments in Nigeria is rice farming business. Nigerians have one of the world’s largest rice consumption rate, thus it is very lucrative to invest in rice farming business in Nigeria. According to a US report, Nigeria imported 400,000 metric tonnes of rice more than the quantity imported in 2017. This tells you that there is a huge profit potential in rice farming business in Nigeria.
A bag of rice is currently valued between N12, 000 -N18, 000 in Nigeria. You can imagine the amount of money that will be streaming into your bank account. Assuming you invested in large scale rice farming in Nigeria, you can be able to produce at least 100 bags in one year. If you sale at wholesale price of about N10, 000 you would be making N1, 000,000,000. You can see the profitability of agricultural investments in Nigeria.
Poultry farming business
Another lucrative agricultural investment in Nigeria today is poultry farming business. Whether you invest in broiler, layers, or cockerel; the profitability is very huge. All you need is the right guidance and proper information regarding poultry farming business. In Nigeria today, what you see is ill equipped and badly managed poultry farm here and there. We have not fully tapped into the potential available in poultry farming business.
As an entrepreneur, if you can invest enough capital into this sector, your profit will be so enormous that you would need to contend with it. This is because more than 70% of our poultry consumption is based on importation.
Cassava farming business
Between Garri and rice, it is very difficult to really say which one is the most consumed farm produce in Nigeria. Aside from just converting the cassava to garri, there are numerous products gotten from processed cassava. Segun Adewumi (president of Nigerian cassava farmers association) also stated that Nigeria spend up to N3 trillion annually on the importation of products that are generated from processed cassava.
You can imagine the amount of money we are spending on importation when these things can be produced in Nigeria. This tells you that it is very lucrative to invest in agriculture in Nigeria. According to Akinwumi, Nigeria spends N700 billion yearly to import ethanol that is also derived from cassava.
Oil palm plantation
This is also one of the most lucrative agricultural investments in Nigeria that you really need to consider. Although it involves a lot of patience and capital but it promises to be worth it when you start reaping the dividends. There are lots of products derived from the oil palm and all these products command great market value. Some of the products include palm oil, palm kernel oil, palm wine, soap, etc.
Beans farming business
You can’t talk of profitable agricultural investments in Nigeria without mentioning beans farming business. One bag of beans is more costly than that of rice and garri. It is mostly cultivated in the northern part of the country. It can also be cultivated cross the six geopolitical zones in the country. You can start to consider investing in beans farming in Nigeria irrespective of your location.
Catfish farming business
This is another lucrative agricultural investment in Nigeria right now. How many people are really venturing into this business on a large scale? You can only see farmers with a single fish pond and nothing more. In restaurants, catfish goes for up to N1000 while you can get it for a lesser price in the open market.
Maize farming business
Until you venture into this agribusiness investment, you will never know the profit potential that it holds in Nigeria. One very good the things about maize farming business investment is that it takes at most four months between planting and harvesting. Simply try it out today and start reaping the benefits it holds.
Livestock farming business
Investing in livestock farming business in Nigeria is a good way to earn big from agricultural investments in Nigeria. You can start with pigs, goats, rams, rabbits, or grasscutter. Whichever one you choose has great potential and prospect in Nigeria. There is also room for you to start small and grow the number of your farm animals with time.
Pineapple farming business
Agricultural investments in Nigeria can never be complete without the mention of pineapple farming business. Pineapple is greatly employed in the fruit juice industries across Nigeria and you can also consume it fresh. This tells you that there is huge market availability for pineapple farming business. All you need to do is to invest your money in this business and be very glad you did.
Plantain farming business
You only have to plant your plantain suckers once and it will keep producing from year to year. It is also widely consumed in Nigeria just like rice and garri. The popularity of plantain in Nigeria makes it a very good agribusiness investment for you in the country.
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