6 Agricultural Businesses you can invest in

What are the best agricultural business ideas to start in Nigeria in 2021? The Agricultural sector contributes just a little over 20% to the overall GDP of the country even though it can be much more.

The agricultural sector is one of the most flourishing sectors of the Nigerian economy, with the high rate of Agricultural product being exported daily. With proper strategic planning, any individual having basic knowledge of farming and manufacturing operation can start a profitable agriculture business.

In this post, we shared a list of most lucrative agricultural and farming business ideas that anyone in Nigeria can start in 2021

Pig Farming.

Pig farming in Nigeria is one of the lucrative and profitable livestock businesses. Commercial pig farming is beneficial due to the fact that pigs are prolific breeders and can deliver 10 to 14 piglets in a single birth.

Pig meat (pork) has an excellent demand since the red meat is a good source of protein and tasty as well. The pork market in West Africa alone accounts for about $3 billion consumption value. 80% of that is sourced by importation. That is a lot of untapped revenue.

Catfish Farming.

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.

There’s a very high demand for catfishes all year round. The demand is highest from football viewing centers, restaurants and market women who buy in bulk and sell in retail either as live catfishes or smoked catfish. Individuals also demand catfishes too for personal consumption. With catfish farming, you’ll never have any problem selling your products

 Cassava Farming.

With the increasingly diverse use of cassava products in Nigeria, cassava farming is getting more lucrative with every passing day. This farm product has always been a source of livelihood and food for millions of Nigerians. 90% of Nigerian households consume cassava products every day. Some of the popular meals made out of cassava are: garri, wheat-flour, animal feed, commercial caramel, and a lot more. The price of one paint plastic of garri is over #1000, Garri is the most common food you will find in every household.

As the population of Nigeria and Africa as a whole continues to grow, the demand for cassava products will continue to skyrocket, leading to higher revenues generated by cassava farmers. If you’re looking for an agricultural business that would ensure you always almost sell out all your harvests, cassava farming is one great farming business to start.

Poultry Farming.

Poultry farming 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 for entrepreneurs to make good money within the shortest period of time possible.

With over 160 Million consumers in Nigeria alone, the market is always there waiting to be tapped. The demand for poultry products such as eggs is so high that people go about every day looking for where to get the supplies needed.

Oil Palm Farming.

Many people are trooping into Oil palm plantation on a yearly basis because Oil palm has proven to be one of the best crops to invest in, with a massive ROI. Every tiny byproduct of it can be conveniently converted into money. 

Economically, it is not wise to use one hectare for oil palm farming because of the cost of setting it up, 10 hectares is ideal. You can still start with one hectare if that’s what you can afford. A hectare of palm fruit will give about 2000 litres which can be sold for #350,000 plus. The kernel can be sold for #100,000 or so. Which is not bad because it would keep appreciating every passing year.

Oil palm is one of the Agricultural products being exported, it is a life time investment. which your great grand children will benefit from. 

Coconut Farming.

There is a high demand for coconut in Nigeria and the world at large and this demand has outstripped the country’s production capacity for several decades. Coconut products are one of the ingredients used in the beauty, food and pharmaceutical industry.

Coconut can be processed into various products which can be used industrially or as food. Some of these products from coconut processing include; coconut oil, coconut water, coconut meat, coconut flour.