How to Start Farming Business in Nigeria and Make Millions from it
- Make that decision. You have to decide the type and scale of farming you wish to go into. …
- Do a survey. You have to do a little research to learn more about the type of farming you wish to go into and its requirements.
- Source for capital for your Farm. One thing every reader must understand is that you do not go into farming business without money because it is the driving …
- Acquire the necessary things. The next line of action on how to start farming in Nigeria is to acquire the necessary things you will need to execute your …
- Execute your idea. Executing the idea is the most important step of how to start farming in Nigeria. …
- Seek experts’ advice and supervision. If you can afford to do it, I will advise you always seek experts’ advice and supervision. …
What is agricultural business in Nigeria?
We all know that agricultural business in Nigeria is made of different practices among which are livestock/ animal husbandry, farming which includes planting and harvesting; there is also the mineral aspect which includes trapping of natural resources in the soil.
Why is it difficult for Nigerians to get success in agriculture?
In recent times, a lot of Nigerians both young and old are beginning to dump their white collar jobs in order to take up farming. Unfortunately, many are having it difficult finding success in this lucrative business of agriculture. Agriculture may look as simple as just planting a seed and watching it grow.
How much does agriculture contribute to the GDP of Nigeria?
There are hundreds of different food crops like maize, yam, millet, beans and potatoes that are being produced by Nigerian farmers each year. However, their output isn’t enough to meet the nation’s demand. The Agricultural sector contributes just a little over 20% to the overall GDP of the country even though it can be much more.
What is agribusiness and how to start it?
Simply put, agribusiness is all about how to conduct successful business in the food and agriculture-related sectors. It is a business that has many opportunities and gives room to all players to participate at all levels. Also, you can start this business at the back of your house and you can even start with little or no capital.
Which agricultural business is most profitable in Nigeria?
8 Most Lucrative Agricultural And Farming Business Ideas In…Cassava Farming. … Poultry Farming. … Rice Farming. … Snail Farming. … Catfish Farming. … Maize Farming. … Pig Farming. … Honey Bee Farming.
How do I start an agricultural business in Nigeria?
Steps To Take in Starting Agricultural Business in NigeriaStep 1: Make researches. … Step 2: Choose your crops or livestock. … Step 3: Secure adequate land. … Step 4: Register your farm/business with concerned organizations. … Step 5: Hire farm labor.
Which agriculture product is most profitable?
Some Best Profitable Farming In India 2022Garlic Farming. The payoff on growing garlic can be enormous for those who prefer to grow “gourmet” garlic. … Lavender Farming. Lavender farming produces above-average gain for small growers, as it is such a varied crop. … Gourmet Mushrooms Farming. … Bamboo Farming. … Willows Farming.
How do I start my own agricultural business?
How to start your own AgribusinessThe scope.Market Research.Creation of a Business Plan.Arrange funds.Understand the Laws and Regulations.Register your business and acquire licenses.Final Arrangements.
What is the first thing you must know before going into Agric business?
Before you venture into the cultivation of any crop, it is important you explore the available market, determine its size, examine its potential for scale, and also consider the possibility and feasibility of exportation.
Who owns the biggest farm in Nigeria?
NyakoNyako owns the largest mango farm in Nigeria, leading to his being popularly known as Baba Mai Mangoro (BMM). Exotic mangoes from his mango orchard of 50, 000 trees were first exported to Europe in 1993.
What is the best plant to grow for profit?
5 Ridiculously Profitable Specialty Plants to Grow in Your…Ginseng. Used for thousands of years in Asian cultures as a healing herb and tonic, this plant brings in so much profit for growers it has been dubbed “green gold”. … Gourmet Mushrooms. … Bamboo. … Herbs. … Medicinal Marijuana.
How do small farmers make money?
Ways to Make Money in the GardenSell Extra Garden Seeds.Grow & Sell Extra Seedlings.Start a Market Garden & Sell Vegetables.Start a Medicinal or Culinary Herb Garden & Sell Plants.Grow an Extra Row of Garlic & Sell Seed.Grow Microgreens for Restaurants & Market.Start a Worm Farm.Sell Perennial Herbs & Flowers.More items…•
What crop is in highest demand?
The most planted crops throughout the world are wheat and maize (corn). Rice and soybeans are other key staples. However, these are all relatively low yielding and do not make enough revenue per tonne of product produced. The highest yielding crops are sugar cane, sugar beet, and tomatoes.
What is the best agricultural business?
Most Profitable Agricultural Business Ideas in 2021Vertical Farming. Market value: $3.9 billion. … Precision Farming. Market value: $7 billion. … Apiculture. Market value: $8.3 billion. … Microgreens. Market value: $10.9 billion. … Vegan Food. Market value: $14.4 billion.
What is the easiest crop to farm?
Easy Crops to Grow From SeedLettuce. Lettuce can be sown directly in your garden bed, or started indoors for transplanting. … Peas. Snap, snow, and shelling peas are all best sown as early as the soil can be worked in spring. … Radishes. … Turnips. … Beans. … Sunflowers. … Sweet Potatoes. … Winter Squash, including Pumpkins.More items…
How do I start a farm with no money?
How to Start a Farm with No MoneyGet Experience from Another Farmer.Look For Deals on the Market.Start Purchasing Livestock Young.Purchase a Good Truck.Never Loan nor Borrow Anything.Stock Up on Everything.Rent Out the Best Farm for You.Look Into Possible Grants.
What is the oldest occupation in Nigeria?
Agriculture is one of the oldest occupation in Nigeria and indeed in the whole of Africa. We all know that agricultural business in Nigeria is made of different practices among which are livestock/ animal husbandry, farming which includes planting and harvesting; there is also the mineral aspect which includes trapping of natural resources in …
Why is research important in agriculture?
Research gives you more knowledge of what part of agricultural business you are engaging yourself which will be more profitable and conducive for you to venture into. It will help you know the types of livestock or cash crops people are most likely to buy and the seasons which this crops and livestock are available in the market.
Is farming profitable in Nigeria?
Starting an agricultural business in Nigeria is very lucrative which is beyond farming and planting of crops or even the rearing of animals. The benefit of this agricultural venture has yielded profit to many farmers who are willing to take the risks into starting an agricultural farming business to earn a living.
Do you need to hire labour to farm?
You need to hire full time labour to help you in the farm before and when it’s time for harvesting the crops and taking care of livestock. These labourers should ensure that bushes are cleared, making of heaps, planting, application of fertilizer, controlling of pest, rodent and watering the crops are regularly done.
What is the next step in commercial farming?
Once you’ve selected the land, the next step is to prepare it for planting. Usually, commercial farming goes beyond manual labor. Heavy machineries for ploughing and land clearing should be employed. If you land is an open space, you may need to fence it to prevent intruders such as thieves, herbivorous animals like cows and goats that can eat up your crop.
What to look for when starting a crop farm?
Generally, there are certain things to consider when you’re starting a crop farm. One rule of the thumb is to try to cultivate crops that have a huge or at least reasonable market demand. These types of crop are very lucrative and some of these include yam, cassava, plantain, rice and maize.
What nutrients are needed for soil preparation?
This could be inorganic or organic. Usually, the soil’s nutritional need is mainly in the form of potassium, phosphorus and nitrogen. However, the ratio of these nutrients is dependent on the type of crop you are planting.
How to rear a bird commercially?
Land/space: You can start at your backyard but if you want to rear birds commercially you’ll need to use a large area. Waste disposal: You need to put in place a proper waste disposal system for disposing poultry droppings. Water source: There should be access to a clean water source for your birds.
What are the things to consider when selecting your ideal farmland?
Some of these include exposure to adequate sunlight, the pH of the soil, the fertility as well as its water retaining capacity.
How much does agriculture contribute to GDP?
However, their output isn’t enough to meet the nation’s demand. The Agricultural sector contributes just a little over 20% to the overall GDP of the country even though it can be much more. Almost all imported foods imported can be cultivated within the country.
Why is it important to plan for harvesting?
This is very important because many of these crops are perishable and any delay in distribution could lead to loss of yield and income.
1. Herb Gardening Business
Growing medicinal herbs is a lucrative business. You must have proper knowledge of medicinal herbs and the many ailments they heal to accomplish that goal.
2. Vegetable Farming Business Ideas In Nigeria
Like herb farming, starting a vegetable farm is also one of the most straightforward and profitable agricultural businesses.
3. Palm Oil Plantation and Processing Business
Oil palm is something of a wonder crop. It’s one of the most viable agribusiness ventures you can attempt.
4. Cattle Farming Business Ideas In Nigeria
This is best if you have vacant land as well as the means to develop it.
5. Livestock feed production or distribution Enterprise
You can still make a contribution to the agric sector by producing feed for livestock, even though you do not have enough land actually to rear livestock.
6. Start Plantain Selling Business
Selling plantains, whether in their raw state, roasted or toasted, is a big moneymaker.
7. Fish Farming Business Ideas In Nigeria
Two primary types of fish farming are saltwater and freshwater farming.
Why is agribusiness growing in Nigeria?
Agribusiness in Nigeria has been growing massively over the last decade due to the increased awareness of the need for sustainable food production in the country. This renewed focus on growing the non-oil sector of the economy by the government has led to the implementation of policies geared towards encouraging farmers and investors. …
What are the major sectors of agribusiness in Nigeria?
Agribusiness in Nigeria consists of the following four major sectors. Agricultural input, Agricultural production, Agricultural processing-manufacturing or agro-processing and, Agricultural marketing-distribution sector. These four major sectors act as interrelated parts of a system and the success of each sector depends, to a large extent, …
What do farmers have to contend with?
Farmers have to contend with and analyze a lot of data and information as part of their job. They have to make accurate decisions after analyzing a lot of variables like rainfall conditions, underground water concentration, temperature, harvest yields, commodity prices etc.
What is agribusiness?
Basically, Agribusiness is the science and practice of activities with backward and forward linkage related to production, processing, marketing and trade, distribution of raw and processed food, feed, fibre including the supply of inputs and service for these activities.
What are the challenges of agribusiness?
Nevertheless, just like every other businesses, agribusiness has its own challenges. Such challenges range from man-made to natural. In Nigeria, the Land Use Act and financing has been the major challenges facing agribusiness. Unstable government policies also affect those doing international agribusiness.
Why are cooperative collages needed in Nigeria?
Cooperative collages in Nigeria need to be refashioned in line with government vision to address youth unemployment, food security and economic diversification in Nigeria. The opportunities are not just in owning a farm but in business enterprises that involve transactions with farmers.
What are the pests that affect farm produce?
Animal pests like rodents, beetles and bats cause a lot of damage to farm produce and affect yields. Developing innovative solutions to combat the menace of animal pests on food produce and harvest yield without tainting the farm produce would be a big hit!
What is the most lucrative farming business in Nigeria?
2. Poultry Farming. Poultry farm ing is the process of raising domesticated birds such as chickens, ducks, turkeys, and geese for the purpose of farming meat or eggs for food. 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 …
What is the most flourishing sector in Nigeria?
The agricultural sector is one of the most flourishing sectors of the Nigerian economy. With proper strategic planning, any individual having basic knowledge of farming and manufacturing operation can start a profitable agriculture business. You don’t need a huge capital or farmland to get into the agriculture business.
Why is maize important in Nigeria?
Maize is cooked in various ways and millions of Nigerians rely on this crop because it usually costs less than wheat and rice and other common grains and cereals. The importance of Maize production in Nigeria cannot be overemphasized. A lot of by-products are gotten from Maize.
Which country produces the most rice?
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.
Is snail farming a niche business?
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.
Can you grow catfish in Nigeria?
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.
Is there a surge of interest in the Agricultural Sector in Nigeria?
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.
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Ifeanyi Nwokorie is a Business Analyst and Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us .