The Nigerian economy is beginning to rely more and more on agriculture. In fact, agriculture is one major way that the economy can reduce its dependency on the oil industry and create local millionaires in the process. Many young people are also taking a new interest in farming and agriculture. Luckily for us, agriculture business ideas are numerous and varied.
That being said, the problem for most people who want to launch a business in agriculture is that they don’t know where to start and they give up without trying. Many are also wary of the risk that can come with the agriculture business in Nigeria.
If this sounds like you, never fear. In this article, you’ll discover great agriculture business ideas that will teach you how to innovate and make you rich at the same time. These ideas are quite low-risk, require low start-up capital, and offer the chance to learn a lot of new things.
Lucrative Agriculture Business Ideas
Leafy Vegetables Farming
Nigerians are a vegetable-loving people. Leafy greens like cabbages, lettuce, waterleaf, and ugu are in demand throughout the year. Combined with vegetables’ richness in vitamins and minerals, you really can’t go wrong with vegetable farming.
Vegetable farming is a mode of farming that requires little maintenance and is profitable even on a small scale. The leafy greens business is one you can start with only as little as ₦50,000 for an entire hectare of land. This amount covers seedlings, stem cuttings, manure, and even labour.
For your vegetable farm, you will want to select a small plot of land that is close to a steady water source. This is because vegetables usually require a lot of water to grow well. It is also best to plant disease-resistant species of your favourite vegetables to ensure that you don’t lose any of your profits. When it is time for harvest, you cut the leaves and stems and sell them to consumers.
Nigerians consume beans in massive amounts all over the country. Rich in protein and used for dishes like gbegiri, akara, and moi-moi, you can be sure that there will always be a market for beans.
Beans farming is very straightforward. In summary, you would need a piece of land that is loosened and well-drained i.e. not waterlogged. Beans are usually planted in June and harvested 60 – 80 days after planting. No fertilizer is necessary unless the fertility of the soil is very low. To launch your beans farming business, you would need just a little over ₦40, 000 in start-up capital for a hectare of land.
Maize is also a great plant for farming. By-products of maize, like corn oil, pap, custard, corn-starch, and even alcohol, are consumed all over.
Also, maize is a very hardy plant and needs little to no maintenance. As long as you plant in pest-free and well-drained sandy-loamy soil, you’re in business.
Maize also happens to grow in different climatic conditions as long as there is a steady source of sunlight. This means that maize can be cultivated almost anywhere in Nigeria. When you consider its very low start-up capital and the bountiful harvest you can expect after only 3-4 months, you’ll see that maize is one of the smartest agriculture business ideas for any newbie farmer.
At least 90% of Nigerian households consume cassava products every day, from garri to fufu. We call it the ‘golden crop of Africa’ for a reason. Cassava crops can grow well in different types of soil as their roots make use of nutrients other plants might not have access to.
However, with fresh cassava stem cuttings and well-drained soil, you can look forward to a bountiful harvest between 7 and 18 months after planting. This range depends on the variety of cassava you planted. With an average production cost of ₦80,000, a corresponding profit of ₦120,000 is a reasonable expectation.
Also, instead of just selling the cassava roots, why not try out cassava processing? This is another gold mine in the agriculture industry. Garri, tapioca, fufu, and starch are just some of the many options available.
You can actually start a chicken farm from close to nothing and watch it expand rapidly. Chicken farming is cheap to start, easy to maintain and you can be certain that there will always be a demand for your product.
Also, week-old broiler chicks are available for an average of ₦250 each. By investing about ₦50,000 into buying chicks and high-quality feed, you can expect a 100% return on your investment after only a few months.
Bee farming is one of the most underrated businesses in Nigeria. Honey is precious on the market and suppliers of fresh honey can expect to make serious income.
One advantage of bee farming is that it doesn’t require much space or attention; the bees already know what they are doing, after all. Furthermore, bee farming doesn’t need a lot of capital. You invest as little or as much as you want to, and you don’t even need a piece of land.
Still, it is advisable to set up your beehives (boxes where bees are kept) close to fruit trees. The resulting pollination will multiply your harvest.
A litre of fresh honey goes for between ₦1,500 and ₦2,000. After some training, you can expect at least 11 litres of honey from a single beehive every 7 months. Talk about passive income!
Cucumbers are a highly nutritious and filling vegetable, with a high water content ideal for healthy skin. Cucumber is extremely popular amongst Nigerians and is in constant demand all-year-round. Additionally, it is highly disease-resistant and can be harvested in all weathers.
All you need to invest in is some Thai or Murano cucumber seeds and rich soil with high water content. It also doesn’t hurt to set up your cucumber farm close to an abundant water source. Cucumbers are usually harvested 40 to 60 days after planting.
According to one cucumber farmer, you should expect a profit of ₦2m in 3 months with an investment of ₦600,000 on a hectare of land. Of course, you can scale your profits according to the capital you are willing to put in.
Both locally and internationally, the demand for snails is far greater than the supply. Whether you choose to go small-scale or large-scale in your snail farming business, you’re sure to rake in a steady income. You’ll be spending your start-up capital on mature snails, a snail house, and vegetables to feed the snails.
The Achatina achatina species of snail is best suited for the Nigerian climate. Depending on how much you are willing to invest, you can buy several mature snails of these species for your farm.
Next, you will want to construct a small house for your snails in which they can move about freely. One mature achatina achatina snail produces up to 1200 eggs every year: about 400 eggs 3 times a year.
After a year, when these snails mature, you can sell a single one for at least ₦250. With an initial cost of just ₦60,000 to purchase mature snails, food, and housing, you will be enjoying millions of Naira in profit within a few years.
Secure Agriculture Loans and Grants in Nigeria
So, one of these agriculture business ideas has caught your eye and you feel ready to become a farming entrepreneur. Great! However, it’s possible that you haven’t been able to gather the funds to begin, especially if you want to go into large-scale farming. For this reason, it’s great to look into government loans and grants for agriculture.
The federal government makes funding available to entrepreneurs who are interested in a wide variety of agricultural businesses. Agricultural loans and grants can be gotten from the Central Bank of Nigeria, the Bank of Agriculture, Micro-finance banks, co-operatives, and several non-profit organisations. It’s up to you to find the grants that best suit your interests and apply! We publish some of these loans and grants opportunities under our ‘Opportunities Section’.
Which of these business ideas are you ready to try? Let us know in the comments.
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