Agriculture Investment Opportunities in Nigeria
If you are looking to invest in agriculture in Nigeria, you’ve chosen a lucrative sector. But with many agriculture investment opportunities in Nigeria, it might be challenging to pick one that guarantees a quick return on investment. We’ve come to your rescue! In this article, we’ve highlighted only the leading agriculture investment opportunities in Nigeria. These investment opportunities promise a high return on investment and have created more wealth for many entrepreneurs who invested in them.
10 Agriculture Investment Opportunities in Nigeria
1. Rice Plantation
In Africa, Nigeria has one of the highest rice consumption stats. In 2011 alone, Nigeria spent over 900 billion on rice importation. With that staggering demand, it is clear that an investment in rice farming will yield substantial results. Do you have the capital to invest, logistics, and efficient planning? Invest in rice farming today!
2. Livestock Feed Production
For smart investors, producing livestock feed for people to feed their animals is a worthy investment. Before delving into this business, research products that are rich in nutrients and will promote the growth and health of livestock. To set up this business, get a grinding machine, customized bags, a weighing machine, and raw material.
Poultry farming is highly profitable. Unfortunately, it is a sector that hasn’t been fully tapped. Only Obasanjo Farm and a few others have developed into full-fledged high-tech poultry farms. Because most of the chickens and turkeys consumed in Nigeria are imported, a huge profit is waiting for entrepreneurs who invest in poultry farming.
4. Goat Farming
Do you have sufficient landholding in Nigeria? You can invest in goat farming! Goat meats have high domestic demand. As a result of its economic prospect, rearing goats under a semi-intensive or intensive system for commercial production keeps growing. The return on investment is also quick, and you can start with little capital.
5. Cassava Farming
The popularity of cassava makes cassava farming one of the ideal agricultural investment opportunities in Nigeria. For instance, one of the foods processed from cassava is Garri. Garri, — like Rice, is still one of the most famous food staples in Nigeria. The beauty of this investment is the ability to use any land available to cultivate it. When properly planted and well managed, it yields a remarkable level of income.
6. Aquaculture Farming
Tilapia farming, catfish farming, and crayfish farming are lucrative businesses for young entrepreneurs looking to invest in agriculture. You will hardly visit a town or city without a catfish joint. Who supplies these business owners? Catfish farmers! If an entrepreneur gets it right, they’ll make a huge amount of money. In most joints, a single catfish costs more than N1000. In the market, you can find it for over N500. Most households in Nigeria can’t do without crayfish and fried tilapia fish. You can’t just go wrong with this business!
7. Maize Farming
The investment opportunity in maize farming is staggering. Many hardly think about it until they go large scale. One astounding aspect of maize farming is that the process is so rapid and less expensive. Within four months, you can plant and harvest your produce. It’s that simple!
8. Snail Farming
Snail farming is picking up in Nigeria. It is a healthy alternative to beef. Physicians in Nigeria are constantly advising seniors and those with health conditions to limit cholesterol intake. The cheap alternative they often recommend is snail meat. That keeps snail demand up. Moreover, the demand for snail slime from several companies is getting high too. The annual revenue of this business is enough motivation to give this a trial. If you are scared of starting on a large scale, start on a medium scale. You will enjoy the remarkable result.
9. Vegetable Farming
Vegetables are one of the simplest and easiest investments to start in Nigeria. The demand for vegetables is high in Nigeria. At least, it is one of the most consumed food items. They are used for making several soups. Of course, some regions consume more than others. Therefore, carry out qualitative research for a location that can guarantee a high yield.
10. Groundnut Processing
Groundnut continues to be a popular snack in Nigeria. Many pair with other food. At supermarkets and in the local markets, bottled groundnuts are branded and packaged in pleasant and fanciful ways. Remarkably, little efforts go into frying and packaging. With less than N200, 000 you can start your groundnut processing and packaging business. More to it, you can do it from the comfort of your home. You can even start your groundnut farm to access groundnuts cheaply.
Why Farm In Nigeria?
Here are unique reasons to invest in farming in Nigeria:
Nigeria is home to over 200 million people. This population depends on staple foods that come from farms for sustenance. Interestingly, more than half of this population purchases their farm produce from the local market.
2. Fertile Land
There are many fertile farmlands in Nigeria lying fallow. Out of the 910,770 square kilometer land areas in Nigeria, over 70% are available for farming. Happily, most of the land is rich for farming.
3. Government’s Support
The Nigerian Government is actively working on promoting farming in Nigeria. Experts agree that this policy will boost food production and minimize food importation. Thus, agriculture investors can get vital support and logistics from the government.
4. High Demand
Foods used for parties in Nigeria are sufficient to feed some smaller African countries. So, farm producers will always get buyers.
5. Future Prospect
Shortly, farming will become a foreign currency earner more than oil. As a result, Nigerian farmers will have the potential to earn in other foreign currencies.
A desire to invest in agriculture is a noble one! If you have the resources, get involved in these agriculture investment opportunities in Nigeria. Raking decent income from agricultural business demands quality experience. Therefore, before embarking on these investment opportunities, make thorough investigations regarding the amount of finance needed, land requirements, and equipment to run the business.