Nigeria is currently the most populous country in Africa with about 170 million people, there is no doubt that in populated countries, Food and agricultural based business will definitely thrive because the need for feeding cannot be over emphasized.
Some Nigerians have seen the importance of Agriculture and have capitalized it, even Africa’s richest man Aliko Dangote has benefited largely from agriculture.
However, several others do not know how lucrative agriculture based businesses are. Our list comprises businesses that are most lucrative in the agriculture sector.
Poultry Farming (laying birds)
This is an area of agriculture you can invest your money in, this year and get back fat returns on your investment. Raising laying birds will help you to earn constant and consistent revenue from the sales of eggs laid each day. Recall the outbreak of bird flu in Nigeria in 2015, it created an acute shortage of eggs nationwide. You can take advantage of this situation to earn big in poultry farming. Let me also remind you that the federal government of Nigeria is set to feed primary school pupils nationwide with at least a meal per day. There is no way eggs will not be used to serve some of these meals. Do you have passion for poultry farming? Now is the best time to go into it and earn your millions.
Catfish and Tilapia Fish Farming
Catfish farming is one of the most lucrative businesses in Nigeria, because you can get up to 200 percent return on your capital in a year. You can start small and grow big in it. The Federal government policy in Nigeria will help serious-minded investors to explore the opportunity in fish farming – especially when policy related to ban on importation of fish is fully implemented. Also, adding value to your catfish production will earn you additional fortune. As you prepare to setup a catfish farm, plan also to setup a catfish processing unit where you can process your fish for both local and international consumption.
Nigeria is undoubtedly the largest producer of cassava in the whole world. As a result of short fall in supply of maize in the last planting season due to fluctuation in climatic conditions which is now manifesting in sharp price increase, there will be more demand for processed cassava as an alternative source of energy in livestock feed. Also, depreciated naira will make more Nigerians to depend more on locally produced food, among which cassava stand tall.
Maize can be planted all year round provided you can use irrigation in dry seasons. Maize is one of the most essential parts of human and animal nutrition. As at August 2015, dry maize cost around 72 Naira per kg. Now in February 2016, when we should be enjoying the harvest of new maize, when the price of maize should have dropped, the price has jumped to around 78 Naira per kg. With the trend of things, maize is likely to increase in price by 100 percent, and only those who will go into maize planting will benefit from this essential feed ingredient. As the rainy season is approaching, plan to plant maize and you will be happy for doing so.
Ram and Sheep Production
Apart from spiritual importance, ram and sheep are made up of healthy meat that can compete favorably with beef. Raising these kinds of animals down south (southern Nigeria) will be a real profitable business idea in 2016. Don’t forget that Salah is around the corner.