10 Most Profitable Agricultural Business In Nigeria

10 Profitable Agricultural Business in Nigeria

In this post, I will show you the Top 10 Most Profitable Agric Businesses in Nigeria. You will also see Business Opportunities in Agriculture Sector, Money Making Agriculture Business Ideas, a brief overview of Online Farming in Nigeria, and How to set an Agro Business Plan.

In places like the USA and Australia, Farmers are among the wealthiest people in some societies, but here in Nigeria, we have very little regard for Agriculture.

Agriculture is one of the oldest and most crucial occupations, it involves the cultivation of land for the planting of crops and the rearing of animals for man’s consumption. The agricultural sector is vital in every nation because of the importance of food and raw materials needed for human survival. From a business point of view, there are various ways that one can make money from agriculture.

Many people are not even aware of the potential and opportunities that exist in agriculture. This lack of knowledge has made them believe that agriculture is only for those who have large tracts of land, or people with a lack of prospects and wealth, and at the same time, they believe that it is a risky business and can’t be profitable.
With the current state of the economy in Nigeria and with things getting worse by the day, it is advisable to consider Agriculture as a business venture. Agriculture offers a lot of opportunities, even here in Nigeria where the population is very large, there are still huge untapped markets waiting to be served.

When we debate about the Best and most Lucrative Agric Niche to Venture into in Nigeria, most people start with rice, cassava, maize, and beans, yes they are profitable, but some have a higher degree of return on investment (ROI) than others.

I planned to start a backyard farm and maybe plant some onions, pumpkins, and avocado for myself and use the extra space for small poultry, but since I needed money at the moment, I had to plant a few things that I could sell.

So, I searched Most Profitable to Agric commodities to Invest in Nigeria offline and online.

During my research, I discovered that most blogs and websites gave different answers, and most of their suggestions were wrong. I did more research and even went into the market to ask for the standard price of certain agro commodities to be sure of what I was doing.

My research revealed that over 43% of the answers I got from these “authority blogs” were wrong. So I decided to make up my list of profitable agric commodities.

This list contains the Best Agric Products on the Nigerian Market, the most profitable farming ideas for Nigerians, and the best Agric Business ideas in Nigeria. If you are thinking of investing in Agriculture then this post is for you.

Most Profitable Agricultural Business In Nigeria

This is the list of the most profitable Agric Business Ventures in Nigeria. If you ever plan to start an agric business in Nigeria, these agro products take you from a poor farmer to a multi-millionaire in less than ten years. 

You should also know that exporting food commodities grown in Nigeria have massive profits from reselling them in your local market. If you have a reliable exporter, you can export your product to the USA and sell it for massive amounts instead of the usual ₦200 you will earn in your local market.

With the ideal environment for agriculture, numerous profitable agricultural businesses can be established in Nigeria. The investors must do a lot more research on what would be lucrative and not just fall in line with the crowd. Just in case you don’t know, these are the best agric business ideas for 2022. 

1. Poultry Farming

10 Most Profitable Agricultural Business In Nigeria

This is something new to people as most of us have realized that Chicken farming is the Most Profitable Agric Business in Nigeria.

Poultry farming is an agribusiness that involves the breeding and raising of domestic fowls (birds) by farmers referred to as poultry farmers with the aim of selling at the market or processing into meat or eggs for human consumption.

Chickens and other poultry birds are not just easy to breed, but they are also very prolific. A seven-month-old adult hen can lay as few as six eggs every week, selling these eggs alone is enough to sustain you.

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I’m sure the most profitable farming business in Nigeria is poultry farming. It will not stress you out, poultry farming is easy and cheap to start, has cheap maintenance costs, and have very high demand.

You can start a chicken farm from nothing, and it will automatically grow into a multimillionaire startup.

Why is it the most profitable agricultural business in Nigeria?

There are so many things that you can profit from your poultry farm. You can harvest and sell eggs, meat, feathers, dung for manure, and chicken dung for fish feed.

It is low-hanging fruit for good-eyed investors looking to start s 21st-century scale agric business. Most poultry farms are either poorly managed or inadequately funded and still rely on crude and substandard facilities. You can quickly start a business in this industry, grow, dominate, and make money.

Rearing a chicken doesn’t take much apart from buying poultry feeds. High-quality feeds can make your birds grow bigger, and properly administered medication will keep them healthy and prevent an outbreak.

If you want, you can create a completely automatic system since most domestic birds can look for food on their own. You only need to supervise the entire process.

If your birds break their eggs, you should buy an incubator. Incubators can be a minor monetary setback but if you want to make money from your poultry farm, you’ll need to have an incubator.

During festive seasons, you can sell a fully grown Cockrell for as high as ₦7,000 (depending on your bargaining skills). That’s a lot of money for just one bird if you ask me. If you want more money, you should rear birds like turkey, ducks, goose…

As the world grows and develops, there is a rise in the demand for frozen food. Anyone in any city can start this business with proper training and planning. Clients will usually come from the neighboring towns, so it is important to have a good relationship with them.

In Nigeria, large-scale poultry production is very profitable. However, breeding and selling chicks is also a great business one can try. You don’t have to raise matured, large, table-size poultry birds to make a profit. You can also make money by rearing and selling chicks that are at point-of-cage or point-of-lay to the local poultry farmers. This way, you will save on the cost of feeds and the cost of rearing the chicken before it’s ready for the market.

2. Livestock Farming

10 Most Profitable Agricultural Business In Nigeria

As shocking as it may seem, it is true. Livestock Farming in Nigeria is also one of the Most Profitable Agricultural businesses in Nigeria. Besides, I think that man in the picture above is President Muhammadu Buhari.

Livestock farming is the rearing of farm animals to produce commodities such as food, fiber, and labor. It can be differentiated from animal husbandry, which is the production of animals for meat or eggs.
Most farms specialize in producing a single animal product: dairy farms concentrate on dairy products such as milk and cheese. Cattle farms focus on beef production (beef cattle), while sheep and goat farms focus on wool and mohair. Pig farms are specialized in pig meat (pork) production.

Livestock farming isn’t number one on this list because it is a bit expensive to run. For instance, maintaining a cattle farm and other environmental factors like overgrazing and desertification can make your business hard to control and significantly reduce your profit margin.

Although you can’t start it in your backyard, a cattle farm has proved to be a stable source of money for most small-scale farmers in Northern Nigeria. Since one cow is equivalent to almost the cost of a two-bedroom apartment in Lagos, it’s safe to say that rearing cattle and other livestock is one of the best agric businesses of 2022.

That aside, there is a lot of money in the livestock business. If you need quick money from your agric business, then starting an animal farm is the best option for you.

Aside from rearing livestock for meat, you can rear your livestock for milk, leather, manure, ivory, and research. It’s not a must that your farm must only have a cow, you can also rear other animals like horses, goats, sheep, pigs, and donkeys on your cattle farm.

Who knows, if you stay focused and resilient, you will have your ranch in no time.

Cattle Farming ranks as one of the most profitable agric farming businesses in Nigeria. An adult cow can be sold for at least ₦300,000 in any market across Nigeria. In rare and extreme cases, you can make up to ₦650,000 from one sale. If buying a dozen cows is too much for you, you can try rearing goats and sheep. There are many benefits to livestock farming which include the following:

  • It is a good source of income for farmers who have large areas of land.
  • It is an opportunity for one to do a part-time job.
  • It is also a source of protein for human consumption.
  • It will reduce poverty due to the fact that livestock farming can be carried out on a small scale by individuals or families.
  • It will help reduce the high cost of living due to the fact that livestock farming involves very little capital and relatively low cost of inputs, while high returns are obtained.
  • Livestock farming can be practiced in rural or urban areas since it does not require land but it only needs space appropriate for feeding and breeding.
  • Most types of livestock give manure which can be used as organic fertilizers for other crops grown on farmlands.

If you have been paying attention, I guess I have been able to prove that agriculture is a goldmine in Nigeria. If you have enough money, you can buy good-sized land in Lagos or any city with high population density and begin making passive income off your agric investments.

3. Rice Farming

10 Most Profitable Agricultural Business In Nigeria

I think it’s a lifelong tradition that almost all Nigerians eat rice on Sunday, and rice is a popular commodity worldwide. Did you know you can start a rice farm in Nigeria and make millions of Naira effortlessly? In case you didn’t know, China and Thailand supply low-quality rice grains for outrageous prices.

Agricultural farming is a business that has been booming in Nigeria, with rice being the most popular crop. With its increasing popularity, more and more people are transitioning from regular farmers to commercial ones.

Although it is not a new business, rice farming has become more lucrative since the banning of rice importation by the government of Nigeria. Because of this, it has become the fastest-growing agricultural sector in Nigeria. According to statistics, Nigeria is currently the largest producer of rice in Africa, overtaking Egypt recently, with about 8.20 million tonnes annually.

Did you know that you can ship rice to Costa Rica, Brazil, Canada, Australia, and Argentina for as low as $7 per bag? Crazy, isn’t it? Currently, Nigeria is the leading producer and consumer of rice in Africa and also one of the highest consumers of rice in the World.

Rice production can be done in any part of Nigeria because the weather conditions favor it. You can start growing rice if you have land available to cultivate it and seedlings to plant in the farm or field where you want to cultivate it

Although starting a rice farming business is long, it is worth it. From planting to harvesting, you can get your rice in 6 months and start making money before the end of the dry season. This makes rice farming one of the most outrageously profitable farming business ideas for Nigerians, 

My research shows that the increase in the price of rice doesn’t affect the demand for this commodity. It’s not surprising that the Nigerian government spends over Five Billion Naira annually on rice importation.

Besides, the rice price only goes up because producers/suppliers can’t keep up with the demand for rice. So, whenever rice prices rise, the need for this insanely lucrative commodity slows down for suppliers, producers, and farmers to catch their breath before they can continue supplying rice on the market.

You can never run out of customers in a business like this. If you are ready to start your agric farm, you can send me a message, and let’s talk business.

A kg of rice is sold for ₦800, and a bag of rice will cost you about ₦27,500. Now do the math, how much will you gain after selling a ton to any market in Nigeria or supplying it to retailers abroad? Don’t waste your time calculating, bro; the money is too much to count.

4. Cassava Farming

10 Most Profitable Agricultural Business In Nigeria

Just because I nagged earlier about rice and cassava doesn’t mean they wouldn’t be on my list of best-farming ideas in Nigeria. To be sincere, cassava has been saving lives since the time memorial, and most Nigerians hold this tuber in high regard.

There is a lot of love for cassava and cassava-related products in Nigeria. Nigeria is the leading producer of cassava in the World. Cassava is another staple crop you should consider farming and one of Nigeria’s best low-cost alternatives to rice.

We make a lot of products from our beloved cassava. Some include Garri, Fufu, White Garri, Abacha, Cassava flour, livestock feed, Manure… Cassava is one of the best Money Making Agriculture Business Ideas in Nigeria that I know of .

Cassava is a fast-growing, tuberous crop rich in starch and widely cultivated in West Africa. Due to the value of the crop and the potential profit, it can give, the agricultural business of this nature is getting popular.

You don’t need seeds; stick part of the plant in the ground, and it will begin to grow. This reduces your expenditure by a milestone. Cassava can be grown in almost any soil type and integrated with plantain, yam, and potato.

And cassava is easy to plant; just stick the stem in the ground and add some water, and they will grow up before you even know what is happening.

You do not need to spend much on your cassava farm, the pest that affects these plants are just locust and grasshoppers, and they rarely do a lot of damage because cassava leaves are not as tasty as corn leaves.

This means that starting a cassava farm would allow you to save money on fertilizers, seeds, and pesticides. Come to think of it, this farming idea will not only make you a lot of money, but it will also save at least 35% of your initial input. To top it all, the price of a bag of Garri is slightly lesser than that of a bag of rice.

Cassava is arguably one of Nigeria’s best agric businesses and profitable farming ideas.

A kilogram of cassava flour is currently being sold for ₦450 across Nigeria, while a 50KG bag of unprocessed cassava is sold for ₦23,000 here in Nigeria. Exporters of cassava are the ones who benefit the most from this Agro Business. Several companies are looking for cassava to make alcohol, paper, animal feed, starch, and sweeteners.

5. Tomato Farming

10 Most Profitable Agricultural Business In Nigeria

Tomato farming is a quick and profitable business in Nigeria. Tomatoes are among the most popular vegetables grown and consumed in Nigeria, as it is a major staple of the Nigerian diet. Tomatoes are easy to grow and can be grown successfully throughout the year in most parts of Nigeria.

Tomato farming is one of the most profitable Agric businesses to start in Nigeria, and ideal farming is ideal for small-scale Nigerian farmers looking for quick money. This agricultural business can also be combined with Pepper and Onion Farming to make outrageous profits.

The price of tomatoes has not been stable since 2014. Even as expensive as it is, there is still a significant demand for this commodity. Tomato is one of the Most Profitable Vegetables to Grow in Nigeria.

If you partake in the 2018 Sallah celebration, you can testify how high the price of tomatoes was. The price and quantity changed for this product changed. A KG of tomato was sold for ₦800, a slight increase from the usual ₦625.

The increase in price, but a slight change in demand, put tomato farming in fifth place on my list of the Most Profitable Agricultural Businesses in Nigeria.

Besides, there is no better item on this list that tastes better than rice and stew, right?

Besides rice and tomatoes being complementary demand, you need tomatoes to go with the rice. If the price of Rice increases, the price of tomatoes does the same. Currently, a 40kg basket of tomato is sold for ₦29,000, red pepper (tatashe) costs ₦19,000 per bag, and onion costs close to ₦20,000 per bag.

6. Bee Farming

10 Most Profitable Agricultural Business In Nigeria

This is another untapped gold in the Nigerian agricultural sector, Bee farming has outrageous benefits to investors who believe they can excel in this field. When we start listing the advantages of honey and the profitability of this agricultural business, this article will not cover it all.

Bee farming is one of the most profitable agricultural businesses in Nigeria, which requires the least amount of capital, and it is a low-risk and high-profit. Bee farming can be carried out in many ways. It can be carried out as a hobby or for commercial purposes. In Nigeria, bee farming has not been fully exploited; this is because there is an insufficient number of bee farmers in Nigeria.

Honey can preserve skin tissues and exfoliates, it is a healthier alternative to sugar, doesn’t go sour, spoilt, or expire; it detoxifies the body, and so on. No wonder there is the idiom “as sweet as honey”. Honey is just too good.

Honey Farming and Bee Keeping is also one of the best agro-business in the world. Bee Keeping is the best Agric business for students. It doesn’t require much space and attention. Everything is pretty much automated.

This agricultural business has been left out in most posts concerning Lucrative Agro Business in Nigeria. And those who even succeeded in this business refused to reveal their secret. There is little or no work at all in this agric business. 

Just have a garden on your farm, and the queen and her hive will do all your work for you; just buy your gear and be ready to harvest.

How much do Bee farmers make? Each Beehive can produce between 17KG to 30KG of honey every four months. Depending on the location, climate, temperature, pests, flowers, and hive population, your bee farm can make you up to ₦200,000 a month.

Packaging is the key to honey marketing.

Most bee farmers do not even package their product, just a neat water bottle will do. A 150cl bottle of honey costs at least ₦3,700 in Nigeria, while the 75cl bottle goes for only ₦1,350. Bee Keeping would have been my number three the only problem is the demand for this commodity is just above average, and not a lot of people have experience managing bees.

Many successful beekeepers in Nigeria have made beekeeping their primary source of income; however, you must also understand that this business requires a lot of risks and hard work. You will need to take extra precautionary measures to protect your bees from diseases and pests since there are no treatments for them in Nigeria. You will also need to be very cautious about where you place your hives and what brand and type of pesticides you use on your farm.

7. Fish Farming

10 Most Profitable Agricultural Business In Nigeria

There are not many vegetarians in Nigeria, but millions of people eat fish in Nigeria. Some consider fish healthy and a meat substitute. They don’t eat meat because of their diet but require a healthy protein-rich meal like beans or fish.

But that aside, fish farming is a Profitable Agro commodity in Nigeria. It can also easily be integrated with snail Farming and poultry farming.

Commercial farming of fish involves breeding and rearing different fish species in ponds or enclosures built on the land. However, the country does not have sufficient fish to meet the demands of its citizens. Therefore, the government is encouraging commercial farming of fish in Nigeria. Also, the value of imported fish is much higher than that of locally produced fish because of high shipping costs, brokerage fees, duties, and taxes. The considerable gap between imported and locally produced fish creates an excellent opportunity for Nigerians to venture into the business.

The Nigerian government has banned the importation of fish into the country and is encouraging local fish farming to boost the country’s economy. The government has also provided incentives by reducing taxing imported seed fishes used in breeding and rearing.

The fishery is very profitable since its cost is almost the same as the poultry bird, but fish farming in Nigeria can be very expensive to start up. Starting a small-scale fish farm here in Lagos can take up to 10 million Naira.

Fish would have dominated this list if not for the start-up expenses and other expenses like pest/predator control, labor, feeds, medicine, pond maintenance cost, water, pump, and filter… all these costs can take up to 1 million Naira annually on a small scale.

That aside, fishes like catfish, tilapia, prawn, mackerel, and crayfish are essential ingredients in the kitchen. The current price for a live 1KG Catfish in the market is around ₦1,200, while smoked catfish can be sold for anything between ₦800 and ₦2,000.

The success of this business depends on the level at which it is operated as well as the knowledge and experience of the farmer/breeder. It is an agribusiness that requires a lot of hard work and dedication. Farmers are advised to keep detailed records (receipts and invoices) to ensure they can recoup their investments when selling their products to consumers.

8. Bean farming

10 Most Profitable Agricultural Business In Nigeria

Honey beans, popularly known as Oloyin Beans in Nigeria, are one of the primary sources of protein consumed by the Nigerian populace. This protein class is also one of Nigeria’s most profitable Agric commodities.

Bean is a staple food and has a significant demand in Nigeria. Being a primary protein source, this commodity’s potential cannot fully be understood in one subheading.

Currently, a paint of Oloyin beans stands at ₦1,200 per kg, and a bag of beans is also sold for ₦26,900. If you don’t like bean porridge, I bet you’d like Moi Moi, Akara, or baked beans. With that said, beans are stapled crops worth investing in.

The agribusiness sector in Nigeria is one of the most profitable in Nigeria. If you are looking for a profitable agricultural business in Nigeria to invest in, then soya bean and soya-related products are also in high demand in Nigeria. The demand for soya beans has been on an upward trend due to their high protein content, making them very suitable for human consumption.

It has also been used as animal feed and fodder. The increasing population has made the demand for food soar. This means that those who can cultivate soya beans will reap huge profits from their investment

9. Maize/Corn Farming

10 Most Profitable Agricultural Business In Nigeria

Corn Farming is another ideal farming idea in Nigeria that has outrageous profits if done properly. Golden morn, custard, corn flakes, and most meals on our breakfast menu are made of processed corn.

Corn can be used as a food product, usually in the form of corn starch or corn flour, but also as an animal feed and industrial use such as corn syrup or ethanol. In Nigeria, there is a great demand for corn as food, feed and industrial use. In Nigeria, it produces more than 10 thousand metric tonnes annually with grains worth ₦1 billion.

Not just the fact that corn is easy to plant, it grows quickly, has a huge demand, is processed easily and is globally recognized as a healthy source of carbohydrate, it is undoubtedly one of the Most Profitable Agricultural businesses in Nigeria.

One of the major problems in Maize farming is that most insects, rodents, animals, and birds around your farm will attack your crop, and if your corn farm is not properly taken care of, it can destroy over 27% of your crop yield making you lose your profits.

But if you’re a smart farmer that certain measures like pest control, scarecrow, traps, insecticide, and introduces natural predators, you can reduce this damage to less than 9%. And you can join other Nigerian farmers selling a kg of corn for ₦1,400 and a bag for ₦31,000.

10. Palm Oil Farming

10 Most Profitable Agricultural Business In Nigeria

Palm Oil Production is another profitable agro-business in Nigeria that is easy to startup. This agricultural product has high demand in and outside Nigeria. This is one Agric product you should start farming if you want to export your goods outside Nigeria. 

Palm Oil and Palm Kennel Farming can also be integrated with your Vegetable Oil Farm which is another high-demand product in Nigeria. Palm oil extraction and processing are usually done using the chemical extraction process using hexane.

Hexane is used to reduce oil waste and makes processing easier. Hexane is used to extract the remaining 5% – 6% of residual crude palm oil (CPO) leftover in palm-pressed fiber, thereby enhancing the oil extraction rate.

Palm seed oil extraction is a very simple technique and doesn’t hassle much. It also can be considered one of the most viable agribusiness ventures. This is one of the very good agribusiness ideas that isn’t being exploited. Palm seed oil is extracted from the seeds of palm trees that are grown in tropical countries like Nigeria.

But naturally processed/extracted oil is a whole lot more expensive than chemically extracted Palm Oil. Aside from red oil obtained from your farm, there are other ways you can make money from selling palm fronds, trees for wood, palm wine, and other parts of the tree for medicine.

In the state capital of Benin City, Edo state a 5-liter keg of palm oil is sold for ₦3,000 which amounts to ₦500 per liter and in Lagos, a 5-liter keg of palm oil is sold for ₦3,400. Now tell me, does having a small oil farm sound like a bad idea?

The palm trees are normally planted in areas with plenty of sunshine and rainfall. Palm trees are generally expected to live from 25-50 years depending on the type of tree and care given by the farmer. Palm seed has high nutritional value because it contains vitamins A, B1, B2, D and E, calcium, phosphorous and potassium. If you’re lucky enough to have an active palm oil farm of maybe 50,000 or 120,000 trees, your profit will be enough to feed the whole of Lagos, trust me.

Palm oil farming is easy to start, resistant to pests but slow growth, but fairly hard to process. A 25-liter gallon of vegetable oil now costs ₦15,700.

What is Agriculture?

Top 10 Most Profitable Agricultural Business in Nigeria

Let’s go over it again so you don’t miss a thing and understand where you are heading to. 

Agriculture is simply defined as the practice of farming or cultivation of the soil for the growing of crops and the rearing of animals to provide food and income.

Some notable universities and Universities of Agriculture in Nigeria include:

  • College of Agriculture, Jos.
  • Federal College of Agriculture, Ibadan.
  • Federal College of Agriculture, Ishiagu.
  • Federal College of Animal Health and Production Technology.
  • Federal College of Fisheries and Marine Technology.
  • Federal College of Forestry, Jos.

Opportunities in Agriculture in Nigeria

The agriculture sector in Nigeria provides jobs for thousands of people. There is a wide array of opportunities in this sector and various ways in which an enterprising individual can get involved. The following are some of them:

Production: Production is the first stage in every agricultural business and requires farming knowledge. The production of crops (both food and cash), through farming, is one of the opportunities in agriculture in Nigeria. Many types of crops are grown in Nigeria. These include cocoa, cashews, rubber, oranges, kolanuts, cotton, mangoes and bananas.

Crops provide income for farmers and contribute to the national economy. They are also a source of food for people living in rural areas. The growth of crop production contributes to economic development because it creates jobs and generates income for farmers and employees who work on farms.

In addition to this, crop production provides an additional source of income to people living in rural areas as they have a secondary source of food other than hunting and fishing or growing their own food

Processing: This is another thriving agricultural sector is a key to economic development, especially in the rural areas. Processing of raw crops harvested from farmlands will ensure that more value is added to the products and that they are made available to a wider range of consumers in different markets. Nigerian agricultural processing companies can be ;ocated in every agro-ecological zone of the country, but are concentrated in the north-central part of Nigeria.

Food processing includes milling, which consists of the manufacturing of wheat flour, corn meal and other cereal products; extraction, which deals with the production of vegetable oil from oil seeds; winnowing or cleaning for grains; sugar refining; brewing; malt liquefaction; manufacture of edible oils from palm kernels; production of edible oils from soybeans; and production of margarine from vegetable oils.

Storage: The storage of agricultural produce is another potential business opportunity in agriculture. Sometimes, farmers lack the facilities to preserve their crops and thus lose profits when they cannot sell their produce at the right time. Hence, storage facilities can be established by individuals to store the produce of many farmers. The storage business involves two important operation: preservation of crops and packing of produce for sale. Storage can lead to the development of related businesses such as packaging, labeling and grading of produce.

Transportation&Logistics: The transportation of agricultural goods from the farm gate to the market gate is an opportunity that is being taken advantage of by many individuals in the agricultural sector. Though, it is a major cost in the agricultural sector.

The transportation of goods from rural areas to cities is sometimes done by many people like businessmen, businessmen and middlemen who will bring their trucks to the rural areas and load them with farm produce before taking them to the city markets where they will unload the produce and sell it to any interested buyers

Many firms provide transportation services, but it is the responsibility of the agricultural produce seller to ensure that his produce gets to the market on time and in good quality. The transportation of agricultural produce from the farm to the market is characterized by some difficulties which may be overcome by using modern transport facilities.

Marketing: Marketing is an integral part of every business. It creates awareness of a particular product or service, and it makes people aware of the availability and location of that product or service. Marketing is particularly important in the agricultural sector, because food products are perishable and must be sold as quickly as possible after they’re harvested. Fruits, grains and vegetables usually have a short shelf life, so farmers must find ways to get their goods to market in time to make a profit.
In order to ensure that this is possible, farmers often choose one or more marketing strategies for their products. A strategy involves thinking about how to get the product from the farm to the consumer in a timely manner, which can involve selling directly to consumers or to intermediaries who will sell on behalf of the farmer. It may include not only transporting the crops from the farm but also storing them long-term until they can be sold or transporting them from one location to another multiple times before they’re sold.

Exporting: This may be accomplished by air, sea or land transportation. In addition, there are many products made from agricultural raw materials that are exported to foreign countries. Some of these products include edible oils, beverages and animal feedstuffs such as soybean meal and soya bean cake.

Commodity Trading: Commodity trading is the buying and selling of agricultural goods. It is similar to securities trading in that it involves individuals buying and selling crops, but it differs in that commodities are sold internally within the country, whereas securities are traded globally.
Commodity trading is rarely done directly by farmers; instead, most of the sales tend to go through large companies or middlemen. Farmers sell their produce to buyers and receive payment early in the season so they can buy seeds, fertilizers, and other necessities for the next growing season. The buyers then store these items until there is enough produce to make a profit from selling it all at once.

Agricultural Consulting: Agricultural consulting is a service that helps clients in the agricultural sector to make major decisions based on financial, economic and social perspectives. This can include everything from working with government agencies to help them meet their goals for agriculture to helping businesses in the industry understand how market dynamics could affect their bottom line.

Agricultural Consultancy is an agricultural service company that offers a broad range of agricultural services including: Agricultural consulting, Agricultural training, Agricultural management, Agricultural software development, Agricultural extension and more. They offer these services in the form of both stand-alone and integrated solutions.
These agricultural services are used by farmers, consultants, businesses and governments to improve productivity and profitability in agriculture.

Why You Should Invest in Agriculture in Nigeria

My small list has been able to prove that there are so many Business Opportunities in the Nigerian Agriculture Sector.

In fact, Agriculture should be the center of the Nigerian economy, Nigeria is blessed with a tremendous amount of agricultural resources, a large expanse of land measured to be over 93 million hectares (923,768 km²) of which 81 million hectares are arable.

Green on the Nigerian Flag is a symbol of Agriculture, which is the main source of livelihood for the majority of the Nigerian populace. The Agro sector of this Nigeria employs over 40% of the entire country’s labor force.

Most parts of the Nation contain rich soil, well-distributed rainfall, favorable climate conditions, and warm temperatures year-round. This makes Nigeria one of the best places to invest in Agriculture.

Problems facing agricultural businesses in Nigeria

Despite the vast number of opportunities provided by agricultural and rural development in Nigeria, there remain many issues which continue to hamper the development of this sector. The agriculture sector is faced with a number of challenges that include:

  • Lack of land for agriculture in most parts of Nigeria.
  • Lack of technologies and modern methods of production. -Immaturity in the products produced.
  • Problems associated with credit facilities, extension services, marketing services and storage facilities.
  • Lack of adequate and quality research programs to solve problems facing agriculture.
  • Lack of capital
  • Poor infrastructure
  • Inadequate government support
  • Unfavorable weather conditions
  • High cost of production-
  • Low productivity
  • Corruption among officials

Some people that are already engaged in this kind of business have also mentioned some unique challenges they face such as; poor network coverage which make it hard for them to get information on market updates on time, difficulty accessing capital for investment and poor transportation system which make it hard for them to move their products from one place to another.

How to Get An Agric Loan in Nigeria?

Agricultural loans are mediums used by any government to encourage its citizens’ participation in agricultural practices by granting them access to government grants and loans.

These loans are made available by the government to the public and cover a range of agricultural practices including crop cultivation and livestock rearing. Some of these offers are even tax-free.

Agricultural Loans in Nigeria can be obtained from the Central Bank Nigeria, Bank of Agriculture, Commercial Banks, and Agricultural Co-operative Societies and Unions.

If you need an Agric loan for your business, just go to your preferred institution to see the requirements. If you meet their requirement, you simply apply and get a loan to Fund your Agric Business Anywhere in Nigeria.

How to Revive Agriculture in Nigeria

Agriculture in Nigeria has been taken aback by poor interest/investment and poor government control and funding.

To make Nigeria’s agriculture productive again, The Federal Government and Individuals in the Private Sector need to improve competitiveness in the international environment, re-orientate Nigerians about mechanized farming and improve the efficiency in producing the Nation’s Agro Product.

Is farming a lucrative business in Nigeria?

Agriculture is important to the Nigerian economy and the daily lives of every Nigerian despite its setbacks, it will inevitably prosper. Most people see farming as hard work but truth be told, agriculture is one of the sweetest businesses in Nigeria.

So my brother, stop asking questions like is agriculture profitable in Nigeria? Find a plot of land, start planting, and come and share your testimony here.

You can also check out Agric success stories on the Nairaland Agric section for more realistic agric ideas and testimonies.

Online Farm Crowdfunding Platforms in Nigeria

No business is completely risk-free. Investing in agriculture through agro-crowdfunding platforms is a relatively new concept in Nigeria.

Online farming allows you to invest in Agriculture and bloat out the risk involved in this business; these platforms are obviously attempting to boost investment using risk regulation policies.

Some of the best Agro Crowdfunding platforms in Nigeria are:

  • Farmcrowdy
  • Growsel
  • Thrive Agric
  • eFarms Nigeria

There you have it. These are the top 10 most profitable Agric ventures in Nigeria. This list contains the best agro products on the Nigerian market, most purchased, and their market prices but if you don’t have good or standing information about them, you can send me an email and I’ll help you out.

There are also other Agric profitable business ideas like starting a plantain plantation, cucumber farms, pineapple farms, orange farms, vegetable farms, cotton farms, rabbit farms, groundnut farms, and timber harvesting… Nigeria is a big market, no matter your location, niche, and product, you can make it. The right input equals the right output.

Source: InformationNGR

19 thoughts on “10 Most Profitable Agricultural Business In Nigeria”

  1. Abdulbasit idris

    Wow! Thank you very much for this information may God reward you abundantly amen.

  2. Hello informationngr.
    I read your “10 Most Profitable…” and was impressed. I would like to discuss cassava farming thoroughly and see how you can help me make a success of it.
    Thank you

  3. Dear bro Ebuka your write up was so good and helpful but I wanted you to help and teach me more on chicken growing and cryfish dealer,am Ndubuisi by name 07036009439

  4. livestock farmer

    How to Start Eggs Supply Business to Shops in Nigeria
    Contact us on 09155286426
    For booking and inquiries.
    There’s no business that doesn’t require capital. No matter what the business is, there’s always a minimum capital and Egg supply business isn’t an exception. To effectively start this business, a minimum of N800,000 is required.
    With just N70,000 You can buy as much as 100 crates of eggs. So imagine buying a crate of egg for 750 or less from a farm and you sell for as high as N850 per crate, you can quickly do the math to see how much you’ll make from more than 100 crates. If you can sell 1000 crates weekly, you’ll be making nothing less than 750,000. That’s cool cash, right?
    Get a Business Vehicle
    Although getting a vehicle isn’t necessary it will save you lots of stress. Many Nigerians who are just starting this business use wheelbarrows for this business. But this method will limit your movement. Getting a vehicle will help you cover more areas than the former option. Cost of purchasing a vehicle constitutes almost 85% of your total capital. Then maybe, 5% can be used for fueling purpose. As the business grows, you can begin to service your vehicle periodically to avoid breakdown.
    Find Your Target Market
    Getting eggs from farms isn’t a big deal, but getting the right customers to supply should be what you should consider. Your target area should be an environment that is densely populated. It could be marketed anywhere that favours your business. Once you know where to supply and have contacts of one or two customers, you’ll only need to go to that area to distribute the eggs.
    Also, to start buying and selling eggs, you should connect with one or two farmers who are going to be your constant supplier of eggs. you can register with any farm of your choice and be consistent in your sales.
    Other Important Working Tools
    The most important tool needed for egg supply business is empty crates. The crates can be of a paper type or plastic type. You can buy 1000 pieces of crates for N7000 if you choose to buy the paper crates and the number of crates needed for your business depends on you. It is advisable to buy paper crates as it prote

  5. Great advice, Thanks!  Please, where can I find Research Analyst in any where in the world? Thanks.

  6. Favour Michael

    Very nice information thanks for sharing this blogs. please, how do I  see Public Relations Manager for my Business?

  7. Harry Chapman

    This is very articulated with elucidate understanding of the various types of analysis. please, what are the Ways on How to Make POS Business more Profitable in anywhere in the world?

  8. Awesome piece! This is really educative.
    You mentioned we can reach out to you if we want to start our farm business. I would appreciate your response to this.

    Thank you!!

  9. The latter part of your write-up makes the whole piece seem so ignorant. What’s your criteria for choosing the listed colleges of agriculture as ‘most notable’?

  10. Ozonechi Collins

    Thanks for your enlightenment and explanation
    I have interest in rice farming and have little experience in rice farm but I want to go fully into the business but as of last year that I planted it, my major challenge is changes in wheather and the place is not motorabe and also marketing aspect, I don’t know if there’s a way you can help me to curb those challenges

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