The agricultural industry in Nigeria is very profitable but unfortunately a lot of people are unaware or just ignorant of it. And most people that know this fact or that are into agriculture do it wrongly and later complain of unprofitable results.
In this article, we would be discussing about the ways of investing in agriculture in Nigeria. We discuss the right methods and avenue to make money from agriculture in the country.
You might not know, but agriculture in Nigeria is very robust, so read on and at the end of the post, you should find the agricultural investment that suits you.
1. Crop Farming
With the population of Nigeria, it is just unfortunate that most investors don't see the opportunity in farming food crops in commercial quantity. There is always an adequate market for farmers to sell their crops for good profit.
Starting a crop farm, as profitable as it is, requires your attention and hard work. Another vital thing, if not the most vital thing, is capital. You need funds to purchase the things required for crop farming in Nigeria.
So, what are the essential requirements for crop farming in Nigeria?
The Things Required To Start A Crop Farm In Nigeria
- Farming Land: this could be bought or you can find someone willing to lease you a farm land. The quantity of farm land in question depends on your capital. Procure the size of farm land you can manage according to your funds.
- Healthy Seeds.
- Herbicide: This is optional. Only needed if you intend to spray the weeds and not weed them out manually.
- Pesticides: For pest control.
Also you must add the cost of clearing the farm land, tilling the soil, managing the farm and harvesting the crops to your capital.
N.B The things and cost of starting a crop farm in Nigeria is not limited to what is written above. You should endeavor to do your own research about the specific type of crop farm you intend to do. For example, there is rice farming, maize farming, cassava farming etc.
Whichever one you do, if done correctly and according to your capital, would surely give you a good profit at the end of the farming cycle.
2. Livestock Farming
Livestock farming involves the breeding of animals for consumption or commercial sale. Either ways though, it is for consumption.
So, how do you go about this, and, is livestock farming profitable in Nigeria? It is very profitable and breeding most animals isn't that hard, though there are those that require your every attention.
Now let's talk about some types of livestock farming that you can start in Nigeria.
Profitable Livestock Farming In Nigeria
- Poultry Farming
- Goat Rearing
- Snail Farming
- Cattle Rearing
- Rabbit Farming
- Catfish Farming
- Sheep Rearing
- Pig Farming
- Grasscutter Farming
- Honeybees Farming
Above are the top 10 profitable livestock business you can start in Nigeria.
Below, we would list the general things you should include in your capital for a livestock farming business.
Needed Things And Required Knowledge For Livestock Farming
- Land/housing to start the farm.
- Type of breed.
- Adequate workers
- Medicine/medical care services
The costs to be added to your capital is not limited to what is listed above but it should give you an idea of what you should generally calculate for. Just like crop farming there are different requirements for different livestock farming.
3. Agriculture Investment Platform
You can also invest in agriculture through agric investing apps. There are dozens of these apps from reputable companies that can give you some impressive ROI at the end of a farming cycle. Interest could go as high as 20%.
Below, we would be listing about five online agriculture investment platforms in Nigeria.
1. Thrive Agric
This would be starting our little list. Thrive Agric has been around for quite some time now, they have earn the support and trust of a lot of Nigerians as seen on their PlayStore reviews
Thrive Agric acts mostly as a link from farmers to their customers. They get the funds from people - their users - and use it to fund the farmers. At the end of the farming cycle, they give their users some percentage profit.
Formerly known as FarmCrowdy, it is also an app that get funding for farmers and profit for the investors. It allows you to choose which farm you would like to invest in along with it farming cycle.
Farmers are given the funds and inputs for the farms and CrowdyVest also gets buyers for them. The investors also choose the type of farm e.g. maize or rice farming. And they can track the farm's progress through videos, pictures and even text.
E-Farms offers farm projects ranging from, cassava farming to maize, snail, poultry farm, catfish etc.
They offer 15% - 20% interest rate on their farm projects.
You can check their website for more details.
Farmally is another online platform for investors to get into the agricultural sector. In Farmally, you can own a farm or a unit of farm which is yours for a farming cycle, and at end of the cycle you get your profit.
You can invest in different farms if you want, check their website out, to see their farm offers and get started.
This is a bit different than the other agric investment apps listed above. PorkVest has it every focus and dedication to pig farming. Yes, pig. Pig farming is very profitable so it isn't a big wonder why PorkVest do pig farming only.
In PorkVest, you get your profit every nine months while the farmers at PorkVest do all the rearing, feeding, breeding and nurturing of the pigs till they are matured for sale. PorkVest also takes care of the selling so your only work as an investor is to fund the whole process.
PorkVest least investment plan starts from ₦65,000 and interest rate starts from 20%. You can go to their website to see their offers.
Before Investing On A Platform
You should do your due diligence and read the terms and conditions of each investment plan to understand what you are going into. Also research about the company so as not to get scammed. Ask people who have used the platform before to know what to expect.
You can search for the platform on Facebook, and see what people are saying about them. You can also ask about the platform on Nairaland Forum, you would surely get people's opinion on them.
Investing in Agriculture is not just profitable but also fun. A word of advice though, as with every investment, you should study your farming idea and have a business plan. For example, if you intend to do rice farming, how many acres or hectares do you want to do? Can your funds cover the cost? Can you manage the farm on your own? Do you have a backup plan or funds in case your capital is not enough? Do you know how to start and manage a rice farm? These are what you should cater for in your business plan.
Agriculture can give you a steady income if you do it right. Anytime, in the course of your agric journey, you don't understand something(s) concerning your farm/investment, you can ask any experienced person around for help. This would help you get first hand advice and keep you on track.