Are you looking for the most profitable agricultural business in Nigeria? If yes, you are in the right place. Here we will show you the 10 best business opportunities in the Agricultural sector in Nigeria. These are the most lucrative agricultural business in Nigeria that you can make money from.
With the current government’s drive to revamp the agricultural sector, it has now become glaring to many Nigerians that agriculture is a very lucrative venture due to our huge and growing population.
This of course presents opportunities which hitherto have been hidden in the sector. Business opportunities hence abound and only smartest Nigerians would be able to profit from this agricultural boom. The following below present business opportunities in the sector which anybody can easily profit from:
10 Best Business Opportunities In The Agricultural Sector In Nigeria
There are lots of agribusiness opportunities in Nigeria. We will discus the 10 best agriculture business opportunities in Nigeria.
1. Fisheries and aquaculture
Nigeria currently has an import deficit of fish to the tune of tens of billions of naira. The situation is so bad that special licenses are given to those who import fish and strict monitoring and compliance are also observed in this regard.
Setting up a fish farm is one way of making very quick profits as there is no religion in Nigeria that forbids the eating of fish.
Especially giving the fact that fishes do serve as an important nutrient source for many Nigerians. Aquaculture is one business that is often overlooked and underrated.
Fish farmers who are into the business full time are making it big and smiling to the bank. See how to start fish farming in Nigeria
2. Vegetable farming
This one is an extremely lucrative business as Nigeria’s large population barely has enough vegetable farmers who keep its population healthy through the farming of vegetables.
Being an important source of nutrients and minerals which Nigeria’s population sorely needs especially for the growth and development of children.
Vegetable farming is one business that if properly handled can be done for life. Read more on how to start farming in Nigeria.
Ever since the introduction of the Obasanjo breed of layers and other breeds to the marketplace, the poultry industry has been on an upward climb since then.
Eggs and meat production have been growing and people are now used to grown in Nigeria eggs and chicken meat. Although the business can be labor intensive at times, the profits are always steady and continuous.
Poultry businesses are ones that always do well within the Nigerian economy given their position as supplier of not only foods in terms of meat, but also of eggs as well.
4. Tomato farming
Tomatoes are the basic foundation ingredient that are needed in our stews and soups. The demand alone for tomatoes is so high such that the manufacturers of tomato puree often have to import raw tomato paste to meet the needs of the Nigerian demand.
As such, smart Nigerians who want to get into the pockets and handbags of the bread winners of Nigerian families will get into the farming of tomatoes as they are always needed for our soups and stews!
5. Snail farming
In southern Nigeria in particular, snails are a rare delicacy which are consumed with soups and sauces. Anyone who ventures into snail farming especially in the southern part of the country is assured of steady returns which will keep paying over and over again. Read
6. Palm Oil farming and trading
In the southern part of Nigeria, where the climate accepts for such, palm trees grow in plantations and in the wild. Palm oil has uses that are beyond what people think they are used for.
Palm oil also has industrial uses and is a requirement for the manufacture of soaps, creams and other cosmetics. Palm oil is also used in the manufacture of margarine and other foods.
This makes palm oil to be a very hot commodity and as such anyone who just trades in it as a commodity is bound to make something quite substantial.
Palm oil farming is a very expensive venture and it takes about ten years for a plantation to fully become productive.
As such, only people or institutions with the kind of capital that is required will be able to undertake such a venture.
The good thing about the business of palm oil farming is that when the plantation starts to turn a profit, such profits are usually consistent. There is no part of the palm tree that is not useful. So the profits are tremendous after ten years of waiting!
7. Wheat farming
Most people may not realize this but wheat farming is so important to Nigeria’s food security due to the consumption of bread and other products of the baking process.
The good news however is that most of the wheat that is consumed is imported from other places and therefore presents an opportunity for those who intend to go into the farming of the product to be able to do so and make adequate profits as people all over Nigeria eat bread, cakes, biscuits and other products that require flour in their manufacture or preparation.
8. Goat rearing
Goats are a delicacy to many tribes and ethnicities within Nigeria. In the south east, goat meat especially the head (Isi Ewu) and the legs (Nkwobi) are savored and as such, goats are in hot demand over there.
In the North and North Central, the species of Goats grown there are more favored due to the fact that they differ slightly in height than the traditional West African Dwarf Goat species.
Goat rearing and trading presents a unique opportunity for those who are interested in taking up the challenge because Nigerians love to have meat in their foods and goat meat is one of their favorite foods!
9. Moringa Farming
Moringa is often referred to as the miracle plant due to its healing properties and medicinal values; especially for those who are growing old due to the complications that may arise later on in life.
Moringa is a hot selling herbal remedy for many people across Nigeria and beyond and it is even exported abroad in commercial quantity.
Moringa is cheap to grow and cultivate and does not require any special conditions in order for it to thrive. This unique wonder plant is the poster child for herbal medicine and anyone who goes into the farming and trading of this plant is made for life.
10. Cassava farming and trading
Nigeria’s most staple food by all means is cassava. From garri to fufu and also cassava flour in bread, it has been the mainstay of households from all walks of life.
Due to this fact, this presents a unique opportunity for anyone who wants to profit from the cassava value chain to do so and invest in Nigeria’s most lucrative agricultural business.
There exists so many more agricultural business opportunities within Nigeria. This is due to the different kind of climate; ranging from the Jos and Mambilla Plateaus where temperate crops like tea, coffee and Irish potatoes are grown to the Sahel Savanna in the North and the dense vegetation of the south. Are there other agricultural opportunities that you’re aware of? Would you like to share? Feel free!Click here to see the latest Study Abroad Scholarships and Guides
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