If you are thinking of making an agro investment in Nigeria in this new year, then you need to read this to the end.
Agriculture cannot only put food on your table, but it can also make your pockets heavy.
Agro investment, like every other investment, needs a well thought out plan to be successful.
Strive Masiyiwa said “you might earn a lot of money working as a professional somewhere, even in the Diaspora. You might be a very successful businessman or woman, but if you do not know how to invest, the money will just pass through you like a fast-moving stream of water.“
This post will take you through the journey of making the right decisions for your agro investment in Nigeria.
Table of Contents
Tips for Making Good Agro Investment Decision in Nigeria
1. Know what you want:
If you are going into agriculture, you have to decide the area you will venture into – whether vegetable farming, snail farming, livestock farming, poultry farming, plantation, fishery, etc. and stick to it.
You should also have plans of expanding too as time goes on.
2. Choose a Favourable Location:
Your location has a part to play in your success.
If you are investing in crop production, the climatic and soil properties of your area will determine the kind of crop to produce.
There are some culture and religion which forbid some kind of food and animals.
So, it is very vital for you to know what is obtainable where you stay.
3. Know Your Market:
In deciding what to invest on, your end user comes to mind.
Who are your target customers?
Who do you want to sell your farm produce to?
Where will you take your poultry birds and fishes to after they are matured?
You see, this is a very vital point to consider before investing in agriculture.
When you don’t find a market to sell your product as soon as they are mature, you will incur losses.
There are several other mistakes we make that lead to losses.
I have shared the different causes of food loss and how it can be controlled in the post titled “How to eliminate post-harvest loss.”
4. Make use of improved technology:
Whatever area of agriculture you are interested in, technology can boost your production.
The use of improved seed varieties, hybrid species, irrigation facilities, etc., can never be overemphasized.
In fact, you don’t need a teacher to tell you that using a tractor on your farm will reduce the burden of manual farm labour.
It will also allow you to do more or cultivate more lands in a very short time than you would have by using manpower.
Digital technology and artificial intelligence are making agriculture more interesting.
5. Bring the Solution to a Problem:
So much emphasis is been laid recently on agriculture which is a good one.
The problem is that some people seem to wake up from nowhere only to continue doing what others have been doing.
Why do you go to a market to see one particular farm produce being sold by almost everyone?
Well, your guess may be as good as mine – people in this location produce the same thing and as a result market slum is always their lot.
I guess there could still be something someone is not noticing.
Why not notice it and make a difference?
In making a sound agro investment, you need an eagle eye.
Spot opportunities that are hidden in a problem and proffer a remarkable solution to it.
6. Get Professional Advice on the Aspect You Want to Venture into:
This may be costly at the time, but it will be worth it in the long run.
We are living in an information age, you can get trusted materials online, attend conferences if possible, make friends in that area, follow recent trends and you will smile at the end.
I hope you enjoyed reading this guide.
learn more about the agribusiness opportunities.
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If you have any tips that you can share that will be very vital in making decisions about agro investment please let me know in the comment below!