Farming in Nigeria is highly lucrative and many persons are raking in millions of naira through commercial farming of certain marketable agricultural produce.
However, several factors came together to make the farming business quite lucrative. With a population of over 200 million persons, Nigeria is a large market for agribusiness. More so, the country is blessed with a large expanse of arable land lying fallow, those arable lands are a goldmine waiting to be mined.
Additionally, the Nigerian government is looking to diversify the economy of the nation by setting up structures and policies meant are making agriculture and agricultural business attractive to the teeming graduates of the country.
The economic potential of agriculture is enormous in Nigeria, however, there are certain agricultural produce that are highly marketable. Venturing into the cultivation of these crops can make you rich.
In this article, we are going to look at the crops and livestock with high profitability in Nigeria. Below are moneymaking agricultural produce in Nigeria:
Top marketable agricultural produce
The high demand for rice in Nigeria is unprecedented. Rice is a staple food in Nigeria and it is eaten in almost every home, restaurant, and social gathering. It is a crop that wouldn’t lose economic viability as far as Nigerians are concerned.
Therefore, deciding to start cultivating this agricultural produce on a commercial level can turn your fortunes around. With proper farm management practices and sound marketing strategy, choosing to invest in rice farming will generate high income for you.
Reports have it that maize is the most produced crop in the world. In Nigeria, maize is important agricultural produce. It is used to make a variety of meals and by industries to produce all sorts of packaged foods. Maize farming is profitable and those farming maize on a commercial level are rich.
We all know that poultry farming is highly lucrative, many are into the poultry business. However, there are still potentials left untapped in the poultry business. Remember that Nigerians consume poultry products a lot which tells of opportunities.
Therefore, you can choose to venture into poultry farming, with the right farm structure, standard equipment, and sound management, you may start smiling to the bank soon.
Cassava is another staple food in Nigeria, it is as popular as rice, and its economic value is high in Nigeria. The major reason this agricultural produce is highly consumed in Nigeria is that it is processed into garri which is a popular and highly consumed food in the country.
Garri production is a thriving business in Nigeria. Commercial producers of garri are amassing wealth for themselves as the demand for this product, like rice, is unprecedented. Garri is used to make a meal that is eaten with soup or it can be soaked with water and taken like that.
Cassava farming tends to produce high yields, a plot of land can produce many tubers of cassava. Now imagine how many tubers an acre of land will produce. The profit potential in cassava farming is enormous.
Nigerians like plantain, and it is widely consumed in the country. This widely consumed crop is highly-priced, thus, making it a huge profit maker in the agricultural business.
Moreover, few farmers are into the business of plantain farming, this creates an opportunity to make it big due to the low level of competition.
Nigerians like plantain whether fried, boiled, or roasted and Nigeria is highly populated. So, use your imagination to see how much money can be made in cultivating this agricultural produce.
Catfish farming is beginning to get attention in the country and the demand for catfish by consumers is soaring. The fish is eaten at homes, bars, restaurants, hotels, So with proper management, a catfish farm can bring you plenty of money.
Beans are also a highly consumed agricultural produce in Nigeria. It is used to make a variety of meals and almost every home in the country has it stored in their kitchens.
Beans farming is highly profitable because it is a staple food and venturing into cultivating and supplying it across the nation can fetch you lots of money.
Nigerians consume goat meat and those in the business of goat farming are making money. Goat rearing is quite lucrative and you don’t need much amount of money to begin or rear goats.
Goats feed on grass, chaff, hay, and so on. These feeds are cheap and can even be gotten for free. However, you would have to get your herd vaccinated occasionally to prevent disease outbreaks.
Pineapple farming is highly lucrative, Australian farmers can attest to that as it is a huge source of revenue in the foreign country. Pineapple is a widely consumed fruit in the world and it is used by food processing companies to produce beverages or flavours.
Nigeria has fertile land for pineapple farming and the demand is high as always. You can make a fortune for yourself by deciding to become a pineapple farmer.
The demand for snails is beginning to make the farming snail economically viable. The current demand for snails in Nigeria, especially in the Southern part of the country is high enough for you to begin considering venturing into the business of snail farming. The business is quite promising.
The agricultural sector has a lot of potentials and those that are reaping the reward of agribusiness can vouch that it is a sector to be in. Nigeria is blessed with resources that make running an agricultural business quite favourable. The country is blessed with arable lands for various agricultural produce, favourable climate for agriculture, and human resources. Therefore, you can never go wrong if you decide to diligently run an agricultural enterprise.
However, as stated in this article, there are agricultural produce that do better than others economically. The crops mentioned have high economic value, some of them are termed cash crops due to how much profit potential they carry. Choosing to farm one or more of these agricultural produce, together with the right farming practices, will generate huge amounts of revenue for you.