10 Most Lucrative Agricultural Businesses In Nigeria
If you are looking for the most lucrative agricultural businesses in Nigeria, then you have reached the right place.
Life is a process, a child born today cannot become an adult overnight; so is agriculture. Your investment in agriculture cannot bring profits at an instant.
A seed is first sown, as it is nurtured, it grows to become a tree that will possibly bear fruits based on the situations surrounding it.
Agro investment takes time, effort and investing in the right business for it to yield results and bring profits.
In our previous post, we talked about the guide to agro investment; you can read it here if you have not done so.
Having given the guide to making an agro investment decision, we will proceed to bring to your awareness the possible areas where you can invest with the big or little capital at your disposal.
Most Lucrative Agricultural Business In Nigeria
1. Vegetable farming:
If there is one thing people do not discriminate against, it is vegetables. I am yet to see someone reject any vegetable.
You can venture into the production of vegetables or the distribution of vegetables across the globe. Basically, most vegetables have short maturity periods and they are in constant demand.
Most vegetables do not require so much expertise to produce. Examples include: green pepper, cabbage, sweet corn, fluted pumpkin (ugu), waterleaf, okra, pepper, carrot, cucumber, Ukazi (‘eru’, ‘afang’, Gnetum sp.), etc. who can resist the taste of ‘afang’ soup?
2. Production of spices:
Spices are simply irresistible in our everyday cooking especially with the recent hype for fresh-from-the-farm food.
Crops like ginger, garlic, onion, turmeric, curry leaf, scent leaf, etc. can put heavy coins in your pockets.
You can also make good money from producing a mix of locally made spices.
I have started seeing some locally made spices package in good containers and displayed in supermarkets and big malls.
Grains form a major part of Nigeria food list. I can bet you have eaten rice, bread or cookies in the last 7 days.
Crops like maize, wheat, sorghum, rice, beans, groundnut etc. are in high demand. Whether you invest in producing grains for food or for further processing, you will always make money from your investment.
They are important to daily living and can be grown up to two or three times a year as long as you have the resources to supply the irrigation and nutrient needs of the crops.
4. Root and tuber crops:
Root crops are in high demand everywhere in Nigeria. Nigerians in the diaspora are not let out also. Exporting Yam, sweet potato, cassava, cocoyam can rake in some good foreign currencies to your bank account.
Have you considered this?
5. Production of flowers and ornamental plants:
The landscaping business is now on the rise in Nigeria.
This is especially because government and city planners have seen the need to beautify the environment using ornamental plants.
You could get trained to become an expert in the beautification of the environment.
As you beautify the environment, your pocket and life will also smile and be beautified.
4. Animal production:
This one is a hot cake in Nigeria. Rabbit keeping, fish farming, piggery, snail farming etc., are profitable agribusinesses that one can venture into.
Other livestock like goat, sheep, and cattle are also lucrative agro investment ventures.
These animals are great sources of protein and because of their affordability, they will continue to be in high demand.
7. Poultry farm:
This is part of animal production but because of the nature of demand for poultry products, I want to highlight a little on this.
There’s no eatery that does not have chicken on their menu.
How do they get the chicken? Fast foods serve noodles and fried eggs every morning, who supplies their eggs?
You could venture into the production of poultry meat or eggs.
If you do it right, poultry farming will send you to your bank every time.
8. Plantation agriculture:
Here you would need land of your own because some of these crops may take up to five years before they start producing fruits.
There are also some landowners who may lease their empty lands for such a long period of time.
You can use the land to grow cashew, cocoa, oil palm, pineapple, pawpaw, orange, plantain, banana, etc.
You can earn huge cash from investing in these agro-business opportunities.
9. Processing of agricultural products:
Most of the farmers’ outputs are being wasted on daily basis.
You can decide to buy it off and process it into useful products thereby reducing waste and creating variety.
Usually, these products which are in their near-useless state come at cheaper prices. When they are processed into another product, they are sold at higher prices.
It’s not magic. It’s all about knowing what to convert the product into and also, having sound knowledge of your market so that you will not fail in your agribusiness. You can read up reasons why many agribusinesses fail.
10. Sales of seeds and other agro-allied products:
Bringing certified seeds, fertilizers and soil amendments, pesticides, farm implements, etc., closer to farmers can be a very good source of income for anyone willing to try.
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Written by: Mgbeonyere Blessing
As a fresh graduate of agriculture. I’m so interested in agribusiness, I really wish I can get a guide or a mentor or work as an intern so as to work with the those farmers in the business. Especially snail farming.
Join the WhatsApp group. You may find a farmer there.
Iam osahon isaac otubu my company name eyes of out heart iam in abuja nigeria iam new into farming still conducting feasibility on how and which farming method and product i will invest in i live in aco estate and about to acquire 4 plots of land for farming
It’s nice to know that you are interested in farming.
I will urge you to continue with your feasibility study and find out what the market really wants.
As long as there is a market for your product, you will make profits from farming.
Good luck in your endeavours.
Wow!! That’s great. We happy to see new farmer join the market.
Do let us know how we may be of help to you.
I hope you find the articles here very helpful.
A good guide for agric entrepreneurs and certainly an invitation to invest.