Best Lucrative Farm Businesses in Nigeria

#1 Rice Farming

Nigeria is one of the world’s highest Rice consuming nation having it as one of the major staple food among Nigerians. Almost every family eats rice daily in Nigeria. In 2011 alone, Nigeria spent N991 Billion on rice importation and the rice we import is said to be nothing less than 10 years old in storage meaning we spend billions of Naira buying rice that has since lost its nutritional values.

Any entrepreneur who invest into rice farming and get it right is sure to be smiling to the bank. A bag of rice is currently sold for N16,000 to N20,000 depending on the quality. A farmer who is able to invest in large scale rice production in Nigeria and able to produce 100,000 Bags of processed Rice in a year, sell at wholesale price of about N13,000 per bag, he will be making 13,000 x 100,000 = N13,000,000,000.

Rice farming is a capital intensive business and you can kick start it with 5-10 million Naira.

#2 Cassava Farming

The popularity of cassava as the major source of food for Nigerians can be traced back to the days of our aged fathers. It is hard to tell which one between rice and Garri is the most popular food in Nigeria. Both are the most consumed food staples among the citizen. Apart from Garri, there are countless of other food stuffs that are processed from Cassava in Nigeria, one of which is fufu. The introduction of the high yield species of Cassava has made it possible for Nigerian cassava farmers to produce more cassavas per plot.

#3 Plantain Plantation

One unique thing about Plantain is that when planted, it keeps producing year in year out for eternity. Just Like Rice and Garri, Plantain is widely consumed in Nigeria. Any food that is popular in Nigeria is always a huge income source due to the large population of the country.

Farmers in Nigeria are not really taking advantage of the opportunity in Plantain Farming to create wealth for themselves. Plantain is highly priced in Nigeria and is always in high demand all year round. You can Fry, Boil, Roast or even bake it to make your products. Millions of Naira is obviously lying idle and remain untapped in plantain Farming in Nigeria.

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#4 Poultry Farming

Everyone knows how profitable poultry farming is, it doesn’t need much introduction. Yet, it is still not fully tapped. What we currently have is few badly managed, scantily equipped poultry farms here and there. I’m yet to see a full fledged, high tech poultry farm except Obasanjo Farm.

Entrepreneur who is able to fire up serious investment into this sector will have huge profit to contend with. The reason is because Nigerians eat chicken more than snakes does and 70% of our consumption still based on importation. The egg is yet another gold mine!

#5 Pineapple Farming

Ask any Australian Farmer and he will tell you how huge the income in Pineapple farming is in their country. Any juice maker that doesn’t have Pineapple flavor variety in his product line is not yet in business. That tells you how popular Pineapple is, not only in Nigeria but worldwide.

Nigeria seems to have better soil for Pineapple Farming than Australia where Farmers are making it big in the business. A Pineapple sells in Mile12 market in Lagos for about N300. If you are able to harvest one million in a year, you will earn at least N150 x 1,000,000 = N150,000,000.

#6 Beans Farming

A bag of Beans cost twice more than a bag of Rice and Garri. The Northern Nigerians are making it big in Beans Farming, supplying almost all over Nigeria and beyond. But one thing is that, this same Beans also can do very well in the South East, South West, and South South Nigeria soils. So why only farm it in the North?

#7 Snail Farming

Snail Farming is really picking up in Nigeria as it being introduced in several dishes recently. The profit potential for you in snail farming is about N50,000,000 Annual revenue.

 

#8 Maize Farming

You will never know the profit in Maize Farming in Nigeria until you try it. One thing I like about maize is that everything happens fast. It takes less than Four months between planting and harvesting so you earn cool cash and smile to the bank.