Top 7 Lucrative Farming in Nigeria

by Olalekan Abdulsalami on 15 Oct 2020 • 0 comments
4 min read

Farming in Nigeria has taken a dramatic turn in a better direction in recent years, creating jobs and opportunities for entrepreneurs who dare to go into the farming business. Millions are currently being made every year through farming in Nigeria and there is certainly no end to the prospects of creating more wealth through farming in the coming years.

The prospect of farming in Nigeria is so high that it cannot be ignored. Having said that, let’s take a closer look at some of the types of Farming that does very well in Nigeria.


Rice Farming

It’s almost indisputable by all that the population of Nigeria is around 200 million people. It is also a fact that, at least, 70% of the residents would pick rice first among a list of foods. This translates to around 140 million people eating rice in Nigeria. This is a huge figure, and it’s the reason it remains the costliest among staple foods in the country.

Meeting demand in the market has remained a big challenge. With the closure of Nigerian borders and other measures to discourage the influx of foreign products in the country, the case is worse. This means demand remains largely unmet by supply, making its farming very lucrative.

According to FAO, Nigeria is the leading African producer and consumer of rice. At the same time, the country is one of the largest rice importers in the world. The report also indicated that rice generated more income for farmers than any other cash crop in the country.

Though planting rice at a commercial rate involves the availability of vast land, you don’t need to purchase outright. You can work out an arrangement with a farmland owner on a lease term or profit-sharing ratio relationship. Many farmers who started rice farming from a humble beginning with big vision have today made it big in the business.

 

Cassava Farming

Nigeria, according to the FAO’s report, is the largest producer of cassava in the world. It is the country’s most common staple food. There is hardly a single house in Nigeria where garri, one of the numerous food products from cassava, is not found. The plant can be grown anywhere in the country, and that the process of nurturing it to maturity is less tedious. This makes it less costly to farm and highly profitable.

Also, cassava does not require an expanse of land to farm it at the commercial level. A cassava plantation on just two plots of land can fetch the farmer hundreds of thousand nairas. Planting to harvest period takes a maximum of eighteen months. Among the numerous products made from cassava include cassava flour, tapioca, and starch. It is also used in the production of some medications, fabrics, paper, and plywood.


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 opportunities for entrepreneurs to make good money within the shortest period 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.


Fish Farming

There are not many vegetarians in Nigeria. Some consider fish healthy and substitute meat. Medically, fish is sometimes recommended in place of meat, especially to old individuals. Therefore, fish farming is a profitable Agro commodity in Nigeria. It can also easily be integrated with snail Farming and poultry farming.


Plantain Farming

To say plantain is one of the most sought-after staple foods in Nigeria is to state the obvious. Most Nigerians will not consider a meal of either rice, beans, porridge, pasta, and so on, fulfilling until it is accompanied by fried plantain.

It is a healthy source of complex carbohydrates. A cooked unripe plantain is also said to be of high nutritional and medicinal values to man. Research reveals it is a rich source of fiber, vitamins A, C, and B-6, and the minerals magnesium and potassium.

Plantain and its dried flour are highly recommended in the treatment of some life-threatening diseases such as diabetics and anemia. It is an all-season crop that once one bunch is harvested, harvesting in multiples continues throughout the year and years after. These are what make plantain farming a very profitable venture.


Beans Farming

Beans, which are very rich in protein, iron, and vitamins, is eaten in every house in Nigeria, either as bean cake, moin-moin, soup popularly called gbegiri in Yoruba land, or as cooked beans in its original form. Nigeria is said to be the largest producer and consumer of a particular variety of beans, cowpea, in the world.

According to IITA, Nigeria accounts for 48% of its production in Africa and 46% in the world. Yet, the country spends a colossal amount annually to import the crop from neighboring countries. 


Maize/Corn Farming

Virtually most of our breakfast is made of processed corn eg Golden morn, custard, pap/ogi/Akamu, corn flakes, etc. Apart from the ease of planting corn and the rapid growth rate, corn can also be processed easily. Corn farming is undoubtedly one of the most profitable agricultural businesses and Nigerians love it.

A major problem in corn farming is that it is prone to attack by most insects, rodents, animals, and birds around your farm. If not properly taken care of, it can destroy over 27% of your crop yield making you lose your profit.

 

There’s a surge of interest in the Agricultural sector in Nigeria. A lot of entrepreneurs are taking on various areas of agriculture; disrupting and transforming it into viably successful endeavors using information technology.

From maize farming, rice production to poultry farming and fishery. Farming is starting to recover its age-old respectable reputation.








References
Top 10 lucrative farming business in Nigeria [Retrieved from https://www.pmnewsnigeria.com/2020/04/07/5-lucrative-farming-businesses-in-nigeria/ on 13th, October 2020]
Farming business in Nigerian [Retrieved from https://www.wealthresult.com/agriculture/top-10-farming-in-nigeria on 13th, October 2020]

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