Agriculture business also known as agribusiness or farming business is the the commercialization of agriculture production and products. In simple term, it is finding a way to make money from agriculture. It is one of the most profitable business that anyone can do. In this article, we will look at the most lucrative agriculture business ideas in Nigeria.
What's in this guide?
Why you should go into agriculture business
Agriculture business is definitely one of the most important businesses ever. It is a business that you can get into and be guaranteed to make profit. In Nigeria, there are many reasons you should consider this business.
First, agriculture business never gets old, it never get out of fashion. As long as humans live, they will always eat. They will always depend on agriculture for food. That makes agriculture a business for all seasons.
Secondly, the Nigerian government is seriously working to diversify the economy which is over reliant on oil. And Agriculture business is the new hot cake that is getting much attention as a result.
Another thing to note is that there are many financing opportunities for people in Agriculture business. There is even a Bank of Agriculture (BOA) in Nigeria.
Also, there is a big market for people in agriculture business in Nigeria. The population of Nigeria is estimated at 200 million people. That is a massive number of people to feed!
There are many more reasons you should consider having a deep look at the different agriculture business ideas in Nigeria. And consider how to invest in agriculture in Nigeria.
Top lucrative agriculture business ideas in Nigeria
Here are the most lucrative agriculture business ideas in Nigeria:
1. Cattle farming
Cattle farming is the rearing of cattle for business purpose. The male cattle is known as bull while the female is known as cow. It is one of the most lucrative agriculture business ideas in Nigeria for many reasons.
Beef meat which comes from the cow is the most popular kind of meat in Nigeria. As at 2019, over 100 million Nigerians consume beef meat. That is a huge potential. Suya, which is a very popular delicacy is made with beef meat.
Cow milk is also one of the most in demand milk the world over. This makes cattle farming more lucrative.
The skin of the cattle is used to make many fashion items. So in this business, there are many ways of generating revenue and all of them are in demand!
You can read more here: How to start a Cattle farming business in Nigeria
2. Snake farming
Snake farming is the grooming of snakes for commercial purpose. This business is very risky and that is what makes it even more lucrative. For anyone who is strong willed, you can start this business and make big profit.
There is a continuous huge demand for snake venom around the world. Pharmaceutical companies spend millions of dollars each year to purchase snakes or snake venom. They use these venom for many critical researches.
Snakes skin are also used for fashion. Some of its parts are used to create nutritional supplements.
While there is high demand for snake and its venom, the supply is low. That is what makes this business one of the most lucrative businesses in Nigeria
You can read more about it here: How to start Snake farming business
3. Cassava farming
Cassava farming deserves a mention among the most lucrative agriculture business ideas in Nigeria. This business is very profitable and in demand.
It does not cost so much to start as you can start small or big. Depending on your budget. You can cultivate cassava anywhere in Nigeria.
Cassava is used to make most of the food that we eat in Nigeria. Garri, fufu, amala, bread are all made from cassava. That is how powerful cassava is!
The following can also be derived from Cassava: alcohol, glucose, animal feed, solvent, fertilizer and more.
Technically, almost everyone in Nigeria consumes products made from cassava.
You can read more here: How to start cassava farming business in Nigeria
4. Poultry farming
Poultry farming includes the rearing of birds such as Chicken, Turkey, Duck and more for commercial purpose.
This business is very lucrative and the demand is so high that Nigeria have to rely on importation to meet these demands.
Chicken and Turkey meat are so popular in Nigeria that they are synonymous with weddings, Birthdays, Celebrations and parties. A party in Nigeria without chicken or Turkey somewhere is incomplete.
Also, the egg from poultry farming is very much in demand. Egg is a major source of protein for Nigerians.
You can read more here: How to start poultry farming business in Nigeria
5. Rice farming
There is no way that rice farming will not make it to the most lucrative agriculture business ideas in Nigeria list.
If there is anything like the official food of Nigeria, it is rice. Rice is arguably the most eaten food in Nigeria. The official food of weddings in Nigeria. The official food of parties.
Rice is eaten across all ethnic groups in Nigeria.
Sadly, as prestigious and important as rice is, Nigeria has to depend on importation of rice to meet its demand which stands at over 5.5 million tons yearly.
This is a gold. You can make millions, even billions yearly if you invest right.
Read: How to start rice farming in Nigeria
6. Snail farming
Snail farming is a very lucrative agribusiness that does not require much capital to start. As lucrative and low capital demand as this business is, there are only few people involved in it.
Snails are consumed and also used to make cosmetic products. This business is very profitable.
You can read more: How to start snail farming business in Nigeria
7. Pig farming
Pig farming definitely makes it to this list of the most lucrative agriculture business ideas in Nigeria. This business is under explored by Nigerians.
Pork meat is one of the most widely eaten meat in Nigeria and West Africa. One good part of this business is that unlike other big animals, a pig can give birth to 15 children at a time. Increasing income potential from one birth.
Read more about it here: How to start pig farming business in Nigeria
8. Palm oil business
Palm oil business is definitely one of the most lucrative business ideas in Nigeria for anyone who wants to make good and stable income.
Starting from palm tree plantation to extraction of oil, the process can be tedious but very profitable.
It is used for cooking, for creams, it has medicinal value and lots more.
Read more about it here: How to start palm oil business in Nigeria
9. Catfish farming
Catfish is very popular in Nigeria. Almost every well organised bar and restaurant serves catfish pepper soup and more.
Catfish related term like “point and kill” is very popular in Nigerian cities
This business is a business that anyone can start with low capital.
You can read more here: How to start catfish farming business in Nigeria
