Starting Livestock Farming Business In Nigeria: All You Need To Know
Livestock Farming Business In Nigeria is a profitable business venture for you who have made up your mind about starting your own business. In recent years, livestock farming business in Nigeria is booming and the future of agriculture in the Nigerian economy is very bright. The prospect of livestock farming in Nigeria and how you can venture into the business and succeed is the focus of this article. When considering livestock farming business in Nigeria, the different types of livestock farming in Nigeria to invest in are:
- Poultry farming
- Cattle rearing
- Fish farming
- Pig farming
- Rabbit farming
- Goat farming
- Snail farming
- Grass-cutter farming etc.
Animal husbandry in Nigeria is mostly controlled by small-time livestock farmers in the rural areas. Livestock production in Nigeria generates millions of dollars every year. Livestock farming business in Nigeria is one of the major sources of food for Nigerians. There is no doubt that so long as people live, there will always be need for food. Livestock farming in Nigeria is one of the most sustainable means of producing food for the ever growing Nigerian population.
Also Read: How to start sugarcane farming business in Nigeria
The simple reason is that people love to eat and use meat to prepare their meals and also use these livestock during festive periods. The demand for livestock in Nigeria will continually be on the high. This is the reason there will always be an ever present market for you to sell your livestock and make mouth watering profits.
Irrespective of this high rate of profitability in livestock farming business in Nigeria, starting and managing a livestock farming business can be quite challenging and demanding. This is why very few farmers venture into livestock farming business despite the high rate of profitability in the livestock business.
This is mostly as result of the fear of the risks (illness and death of animals) involved in livestock business, cost of feeding and maintaining the animals, etc. Ways to manage these risks and reduce the cost of doing the business are what we will be exposing to you in the course of this article. This article focuses on helping you with the best livestock farming practices to adopt in order to keep your livestock alive and at the same time, reducing the cost of production.
How To Run Livestock Farming Business In Nigeria
In order to succeed in livestock business, you must be very cautious and at the same time, paying attention to every detail concerning livestock farming business in Nigeria. You really need to consider some conditions before you venture into livestock business. The future and profitability of livestock farming depends on a couple of criteria and circumstances. In order to be successful in your livestock production in Nigeria, below are four important tips you should have at the back of your mind.
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Startup Capital
At the center of starting any business is the availability of capital to initiate such business. You will need some initial capital and a well detailed business plan to execute you business. Starting a livestock farming business in Nigeria will really be easy if you start small and then gradually expand the business. With your startup capital, you should consider starting on small-scale at the beginning and then grow it from there.
A well detailed and structured business plan is a necessity for the future development of your livestock farming business in Nigeria. With your business plan, you can be able to calculate if your business is profitable or is there need to a change in the way you run the livestock business. A well detailed business plan is like your road map to having a successful business venture. Without your business plan, you will be operating your business blind, and this can be very disastrous to the success of your livestock business.
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Land
Land is another important aspect to consider before starting your livestock farming business in Nigeria. Availability of land space to raise your livestock should be considered before you can go ahead with your livestock farming business.
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Dedication And Discipline
As a livestock farmer, you must be very dedicated and disciplined in order to succeed in the livestock business. For your set targets, goals and desires concerning your business to be a reality, you must be very dedicated and disciplined to see them through.
There is no way you can set long-term goals and work to actualize them if dedication and discipline is lacking in your life. It is not all about having the capital, available land and a detailed business plan; you must be disciplined and dedicated to a fault.
Also Related: How to start poultry farming in Nigeria
Different Areas In Livestock Farming Business In Nigeria
I believe that you have known all that you need to succeed in animal husbandry in Nigeria. Let us now set our sight on the different types of livestock farming in Nigeria. It is always very important to know the demands of your consumers and customers in any business venture you are in. when you have a specific target market, it will be much easier to relate with your customers.
We will bring to you the prospect of different areas in livestock farming business in Nigeria. You should be able to identify a particular area in livestock farming to focus on. You must understand every market and very customer have different demands. Therefore, all your decisions must be based on the market demand.
All areas in livestock business bring in good money, so whatever livestock farming area you decide to operate, it will definitely be profitable. Livestock farming business in Nigeria or animal husbandry in Nigeria is a very profitable business to venture into. Below is the list of the top most profitable livestock farming areas to invest your money in Nigeria.
Most Profitable Livestock Farming Niches To Invest In
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Pig farming
This is a very profitable livestock farming business in Nigeria, and is yet to develop fully. Though it is not as common as fish farming and other prominent livestock farming in Nigeria, it has potential to really make your very rich.
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Fish farming
This is a very profitable livestock business in Nigeria. It is estimated that in Nigeria, N 75 million is generated weekly from fish farming alone. You can imagine what the future holds for this farming business in Nigeria.
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Poultry Farming
This is arguably the most popular livestock farming business in Nigeria. It is very profitable for obvious reasons. You can sell not only the meat but the eggs as well. In poultry farming business, you can raise birds like chickens, ducks, turkeys, quails etc.
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Cattle farming
This is arguably the oldest livestock farming business in Nigeria. It is very popular in northern Nigeria. Aside from the meat from cattle farming, the milk is also becoming more acceptable by the populace in Nigeria. You cannot talk about animal husbandry in Nigeria without cattle farming.
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Snail farming
The health benefit of snail is second to none. It is as a result of the health implication that the Nigerian government is planning on investing in and promoting snail farming industry. They are also trying to involve more snail people into the snail business in Nigeria.
Problems And Challenges Of Livestock Farming Business In Nigeria
As with all other businesses, livestock business also has its own problems and challenges. The truth is that you are bound to face some of these problems should you choose to invest in livestock farming business in Nigeria. Some of these problems and challenges include:
- Livestock diseases
- Low capital
- Lack of organized animal product market
- Bad transportation network in Nigeria
Even with these problems and challenges, livestock farming in Nigeria have more advantages than disadvantages. You are certain to make profits no matter the area of livestock farming in Nigeria that you venture into. Just make sure that you get all the needed and relevant information concerning your area of interest in livestock farming. There is no time to delay, pick one area and invest your money today.
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