The agricultural sector in Nigeria is fast growing with new technologies and ideas. As we all know, agriculture is the main stay of Nigeria’s economy. Are you looking for the best agricultural business ideas to start in Nigeria in 2022? Do you need the most lucrative agricultural business in Nigeria?
Do you want to venture into the agricultural sectors in Nigeria? Do you have what it takes to start an agricultural business in Nigeria?If your answer to the above questions is yes, then you are on the right path. As you have heard in the times past agriculture is lucrative.
There are several opportunities in Agriculture in Nigeria that will yield a lot of profits, all you need to do is pick the one that suits you best. With the current economic situation in Nigeria, almost everyone wishes to venture into any of the different agricultural fields in Nigeria.
Topmost lucrative agricultural business in Nigeria
Below are some of the top and the best agricultural business in Nigeria that you can venture into today:
- Cassava Farming:
Cassava farming in Nigeria has become one of the popular and profitable business in agriculture because of Nigeria’s increasingly diverse use of cassava products. Cassava products is one of Nigerian most consumed household product. Some of the popular cassava meals are garri, wheat-flour, animal feed, commercial caramel and much more.
2). Poultry Farming:
Poultry farming is the method of raising domesticated birds such as chickens, ducks, turkeys and geese for food-grazing purposes. Diverse dairy products are consumed every day, including eggs, chickens, and cheese, among many others.
3). Rice Farming:
Nigeria is the largest producer of rice in all of West Africa and the third largest producers in Africa after Egypt and Madagascar. Nigeria produces approximately 3.6 million metric tons of rice annually. Interestingly, despite this large production Nigeria still falls short of meeting its local demand placed at about 5.5 million tons.
4). Maize Farming:
The Maize farming business is a food staple in Nigeria. Maize, also known as corn, is said to be one of the most consumed sources of starchy food in Africa. Maize can either be boiled or roasted or further processed into the production of pap, cornflour, popcorn, corn flasks and many more products. For its multiple uses, maize never runs out of demand all year.
5). Pig Farming:
Pig farming in Nigeria is one of the lucrative and profitable livestock businesses. Commercial pig farming is beneficial because pigs are prolific breeders and can deliver 10 to 14 piglets in a single birth. Pig meat (pork) has a high demand since red meat is a good source of protein, and is very tasty as well.
Challenges most agricultural businesses face in Nigeria
The following are the challenges most agricultural business in Nigeria face:
- Bad governmental policies
- Lack of funds
- High cost of production
- Bad road network
- Lack of adequate skilled labour
- Lack of machinery for mechanised production
- Bad power supply in the country
- Little or no attention is given to research into advancing production
- Some farm produce are seasonal
- Lack of storage facilities
- Unfavourable international market policies
- Lack of government aid and support
- Absence of loans and grants for farmers and agropreneurs
How to set up an agricultural business in Nigeria
Follow these steps carefully to venture into that agricultural business you have always dreamt of:
- Choose the Sector Of Agriculture To Venture Into
- Get The Technical Know-How Involved In That Sector
- Write a business plan
- Source for funds
- Get A Production Site Of Farm Land
- Get the Necessary Tools and Labour For Production
For questions and enquires on the most profitable agricultural business in Nigeria, please do well to leave us a comment below.