Agricultural sector contributes 25% of Nigeria’s Gross Domestic Product (GDP) and accounts for 48% of the labour force. The sector’s growth rate over the last 5 years averaged 4% .Crop production dominates the sector, accounting for 22.6% of GDP alongside livestock (1.7%), fisheries (0.5%) and forestry (0.3%).
There are good reasons why farming in Nigeria is doing very well. Understanding these reasons will help you (no matter where you come from) to think seriously about setting up farm in Nigeria.
- Availability of arable land across the country including 3.14 million hectares of irrigatable land.
- Favourable weather conditions that support all-year-round agricultural activities.
- Known and mapped-out soil characteristics across the country to guide crop cultivation.
- Supportive government policy that is geared towards encouraging mechanized farming and agribusiness.Nigerian Government is seriously turning its attention to promoting farming in Nigeria to help boost food productions in the country and minimize food importation. The government is willing to assist any would be farming entrepreneur/investors with the necessary support and logistics.
- Huge demand gap between the supply of agricultural produce and industrial activities.
In this post, we shared a list of the most lucrative agricultural and farming business ideas that anyone in Nigeria can start in 2022.
1. Cassava farming: With the increasingly diverse use of cassava products in Nigeria, cassava farming is getting more lucrative with every passing day. This farm product has always been a source of livelihood and food for millions of Nigerians. 90% of Nigerian households consume cassava products every day.
2. Poultry Farming : Poultry farming in Nigeria can be very profitable, and has the potential to generate high returns
within a short time frame, due to the fact that chickens mature very quickly. In Nigeria, poultry farming in Nigeria is experiencing significant growth due to the fact that an increasing number of people are moving away from the consumption of imported frozen poultry products, which is usually not too good for health. As a result, there is an increased demand for local poultry products like chicken, turkey, eggs.
3. Agro-Processing : Huge opportunities for income and wealth creation exist in this sector as it is still much untapped.
From cashew nuts processing, cassava processing, oil palm processing (oil mills), rice processing (rice mills), groundnut processing (groundnut mills), garri processing, fruit juice concentrates (orange, mango, pineapple, watermelon, banana), livestock processing (frozen chicken), frozen snails etc. the list is endless.
4.Agro-export: Huge international market exists for most Nigeria’s agricultural products. Eg Cashew nuts, cocoa, ginger, garlic, gum Arabic, sesame seed, hibiscus, pure honey etc.
With the right capital, knowledge and information, you can be on your way to being a major agro- exporter and earn huge foreign exchange. With the dwindling oil revenue in Nigeria today, agro export is way forward.
5. Catfish farming : If you’re in Nigeria and considering fish farming, aquaculture of catfish (also known as catfish farming) might be your desired business.
Catfish Business is really hyping in Nigeria right now but how many are really getting it right? Get it right and you’re in money. A single Catfish sells for N1500 in Restaurants and about N600 in open market.
If after reading this post you have any question about investing in agriculture in Nigeria, you can visit our office or give us a call.
Please contact us on +234 805 846 9413 or send us an email info@mayzbenfarms.com
Need us to help you set up your farm?
No matter your budget or the size of your farm, our team of Agricultural Experts can help you set up your farm. We set up farms across Africa, We have a team of Agro- professionals who are well versed in agriculture business and will help you design a modern farm with maximum return on your investment.