The drop in the worldwide price of oil has wreaked havoc on the Nigerian economy. As businesses continue to shrink and reduce pay, the country is shifting its focus to alternative revenue sources. Agriculture is unquestionably the very next big thing in Africa, and with people who’ve lost jobs and businesses collapsing, one profitable sector to invest in is agriculture, so you can choose to do a farm investment or become a farm sponsor.
If you’ve been laid off or are searching for a new venture, here are five successful agriculture business ideas you may start right away:
Fish farm
That’s correct, Fish! Every Nigerian family has this as a basic cuisine, and people are eating it at least once a week.
Catfish and tilapia are the most popular fish species. There is a sizable demand for them in Nigeria, and they’ll always sell out of your supply as soon as they are grown to the buyer’s standards.
The magnitude of your fish hatchery has a big impact on how lucrative you’ll be. The greater your room, the bigger your fish items, and the higher your potential sales. On a regular basis, hotels, restaurants, fast-food chains, and hospitals (including nursing homes) purchase a large number of fish. You may start this farm investment right now.
Cassava Farming
The need for cassava production in Nigeria is difficult to quantify. The usage and demand significantly outnumber the supply.
Garri, fufu, and bread are byproducts that practically every Nigerian consumes on a regular basis. Every day, 95 percent of Nigerian households have one of these meals.
Cassava’s various applications for meals and even alcohol have caused its demand to vastly outstrip its supply, and as a result, many farm sponsors and farms from Africa are earning large profits from farming this crop. Its numerous applications have made it one of the most successful agricultural business ideas (on a small scale) that any entrepreneur can pursue.
Poultry Farming
The demand for chickens and turkeys in Africa as a whole is increasing on a daily basis. Millions of tons are used each day, and the existing supply is insufficient to match the demand. As a result, thousands of chicken products are imported into the nation on a regular basis. This market shortfall alone demonstrates Nigeria’s chicken farming potential. It’s no surprise that a retired president of Nigeria purportedly owns one of Africa’s largest chicken farms.
You may start this farm investment idea with modest space in your yard and a minimal amount of money to buy day-old chicks.
Poultry farming in Nigeria and all through Africa is one of the most valuable investment farming ideas you can start right now!
Tomato Farming
Did you know that every year, over $500 million in tomato paste is imported into Nigeria? That’s right, $500 million bucks! The solution is simple: supply is significantly less than demand.
This is one unrecognized agriculture effort. Many individuals search elsewhere, not realizing that this successful farm investment has always been right in front of them.
Grow tomatoes if you want to have less competition. Once you figure out how to transport, grow (on a massive scale), and keep them appearing good for years, the sky is your limit!
Grain farming
Every year, Nigerians and Africans consume thousands of tons of rice, grain, and oats. These are the weekly dishes that every African household consumes. On Sunday afternoons, practically every family in Nigeria, for example, consumes rice. Most other households consume wheat on a daily basis, while some consume oats. These meals make for a significant portion of the food consumed locally.
What’s more intriguing is that Nigeria continues to import massive amounts of grain on a daily basis. Nigeria bought $1 billion in wheat alone in 2013. This demonstrates the actual potential and possibilities of grain cultivation. Local production may reduce imports in half and produce hundreds of billionaires just from farming grains and investing in agriculture.
Snail farming
Snail farming is regarded as one of the most profitable farm investments that can be started with little money in Nigeria today. Despite this, it is among the most underserved animal rearing industries in the country. Snail harvesting in Nigeria is one of the best ways to gain money in a short amount of time.
Snail agriculture is a unique and specialized sort of farm from Africa. Because snails remain dormant throughout the summer months, they become progressively scarce during this period, and the market is deprived of appropriate supplies until the next wet season.
Conclusion
In Nigeria, there is a rise in interest in the agricultural industry. Many entrepreneurs are tackling various aspects of agriculture, disrupting and changing them into financially viable ventures via the use of information technology, the interest to invest in agriculture has become huge!
From maize cultivation to rice production to poultry farming and fishing, there is something for everyone. Farming is slowly regaining its once-honored status.
Z-farming initiative is sponsored by the USAID program, making it a trustworthy business for all investors interested!
