24/06/2020
Top 10 Lucrative Agribusinesses in Nigeria
1. Rice Farming – Nigeria has one of the world’s highest Rice consumption stat. Rice is by far one of the most popular staple food among Nigerians, almost every family eats rice daily in Nigeria.
In 2011 alone, Nigeria spent N991 Billion on Rice importation and the rice we import is said to be nothing less than 10 years old in storage. That means we spends billions buying Rice that has since lost it’s nutritional values.
Any Agripreneur in Nigeria who goes into Rice Farming and get it right is sure to be smiling to the bank. A bag of Rice is currently sold for N18,000 to N20,000 depending on the quality.
A farmer who is able to invest in large scale Rice Farming in Nigeria and produced 100,000 Bags of processed Rice in a year, sell at wholesale price of about N17,000 per bag, he will be making 17,000 x 100,000 = N1700,000,000
($5.5 Million).
You can achieve the above figures conveniently with less than Two hundred million Naira ($1.3 Million)
capital investment!
2. Cassava Farming -The popularity of cassava as the major source of food for Nigerians dates back to ages.
Between Garri and Rice, it’s hard to tell which one is the most popular as both are the most consumed food staples among the citizens — I think if one is the King the other should be the Queen.
A bag of Garri costs almost the same as a bag of rice, and apart from garri, there are tens of other food stuffs that are processed from Cassava in Nigeria.
The introduction of the high yield species of Cassava has made it possible for Nigerian Cassava Farmers to produce more Cassava per plot. Nearly every land in Nigeria is good for growing Cassava and 1 Acre,when properly planted and managed can produce Thousands of Naira worth of Cassava in a year!
3. Plantain Plantation – One thing I like about Plantain is that when planted once, it keeps producing year in year out for eternity. Like Rice and Garri, Plantain is
widely consumed in Nigeria.
