10 Profitable Farming Ventures In Nigeria

source: sme360
24

Do you dream of starting a farming business in Nigeria? Are you thinking of a profitable farming venture to go into? With a population of over 200 million and hundreds of fertile farmland across Nigeria, farming is one potentially profitable business with a huge market. With basic knowledge and strategic planning, you can start a farming business that will bring you lots of profit. Here are ten profitable farming ventures that can bring you millions in less than ten years. Let’s dive in! 1. POULTRY FARMING According to LSETF (2018) statistics, 160 million Nigerians consume poultry products in the country. There is high consumption of chicken and eggs with a huge demand in the Nigerian market. There are so many ways you can profit from poultry farming. You can sell eggs, meat, feathers, chicken dung, and fish feed. You can set up your poultry farm and even rear your chickens and supply them to the market. 2. RICE FARMING Nigeria is one of the highest consumers of rice in the world and the largest producer of rice in West Africa. Even being the largest rice producer in West Africa, Nigeria still imports rice, being unable to meet up with the demand for rice. This is an opportunity for potential farmers to venture into. Almost all families in Nigeria eat rice, making it an evergreen market. Though rice farming requires a large piece of land, it is one profitable farming venture that is sure to bring you a high return on investments. 3. LIVESTOCK FARMING This is one of the most profitable farming ventures in Nigeria. With Livestock farming, you can rear animals like cows, horses, sheep, pigs and sell them to make a profit. The cost of just one animal can run in thousands of naira. You can also rear animals for other purposes like leather, milk, manure, and ivory. 4. CASSAVA FARMING Nigeria is one of the leading producers of cassava in the world. Cassava is also consumed by a large percentage of Nigerians. It comes in a number of products like Garri, fufu, Abacha, etc., and can be grown on all soil types. Cassava is also grown by planting its stems which means you don't need seeds. This can save you lots of money. Cassava is unarguably profitable in the market, with Garri always on demand. 5. FISH FARMING Though starting up a fish farming business can cost a lot, it is highly profitable. Fish like Tilapia, crayfish, catfish, mackerel and prawn is largely consumed by Nigerians and can be sold at different markets for profit. 6. MAIZE FARMING This is another farming venture with massive profits. Not only is maize a highly consumed good, but it is also easy to plant and grows very quickly. The only problem with maize farming is that it is easily prone to pest attacks. However, with effective pest control and insecticides, you can reduce the impacts of pests and grow your maize healthy. You can then sell in bulk and make a profit. Continue reading here...

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