There’re several lucrative agricultural businesses in Nigeria that require little capital to start but yields very high returns.
Agriculture is the new oil in Nigeria as there’s a huge diversification of the Nigerian economy towards the agricultural sector.
Therefore, positioning yourself early to embrace the agricultural sector would be a very smart way to take full advantage of the diversification and the benefits thereof.
This article discusses the top lucrative agricultural businesses in Nigeria.
Top Lucrative Agricultural Businesses In Nigeria
Below are the top lucrative agricultural businesses in Nigeria;
1. Snail Farming
Snail is a scarce and one of the most sought-after farm animals in Nigeria.
Snail farming is one of the least engaged agricultural businesses in Nigeria but yields a very high return and is quite easy and less expensive to start.
The scarcity and high demand for snails create a good opportunity to make a lot of money from the business.
Starting snail farming is relatively easy and cheap as you can start it with just a container and their food are also easily available.
2. Palm Oil Business
The palm oil business is on the top list of the most profitable agricultural businesses in Nigeria.
You could engage in the palm oil business in either of these ways;
1. Collect palm tree stands on rent and process them.
2. Palm oil storage.
Collecting palm tree stands on rent and processing it would likely be more rewarding but stressful because of the processing procedures and stages while the latter may not be as profitable as the first option but involves minimal stress and huge capital.
If you intend to do palm oil storage, you would need to source from oil mills in villages where you’d be buying the palm oils in gallons and drums and transport them to your storehouse or warehouse pending when you’d sell it off when the price appreciates.
3. Poultry Farming
Poultry farming is the most popular and arguably the most lucrative agricultural business you can start in Nigeria.
Generally, poultry products i.e meats and eggs are always in high demand by restaurants, individuals, and occasions, throughout the year, thus creating enough opportunities for the poultry farming business all year round.
Poultry farming is divided into two categories thus;
a. Layers i.e involves rearing poultry birds that lay only eggs
b. Meating producer i.e involves rearing poultry birds that produce huge meat.
Examples of poultry birds are; chickens, ducks, geese, turkeys, and birds.
4. Cassava Farming
According to recent statistics, 90% of every Nigerian household consumes cassava products every day.
Some of the meals made from cassava products are garri, wheat flour, commercial caramel, animal feed, etc.
As the population of Nigeria increases, there’d also be a corresponding increase in the demand for cassava products thus making the cassava farming business a lucrative business in Nigeria.
5. Pig Farming
Over the years, pig farming in Nigeria has risen to be among the most profitable agricultural/livestock business in Nigeria.
The most interesting part of pig farming is that pigs can deliver up to 15 piglets in a single birth thus creating room for huge profitability in the business.
Additionally, pig feeds are cheap, easily available and they’re also easy to maintain.
Pork (pig meat) has an overwhelming market demand as its rich in protein.
6. Plantain Plantation Farming
Plantain plantation farming is a very profitable agricultural business you can start and make huge returns within a very short period of time.
The good part of this plantain plantation business is that the stem doesn’t die as it continues to regenerate and expand.
However, the only challenge in this business is land availability.
But if you already have enough land, that would be a big bonus that would make the business less expensive to start.
7. Fish Farming
Fish farming is unarguably on the top list of lucrative agricultural businesses in Nigeria.
The good part of this business is that you can start it with a small space in your house and fish feeds are cheap and easily available.
Interestingly, the maturity age of fish is relatively short hence making room for quick returns within a short period of time.
Also, there’s a daily high demand for fish in different households, restaurants, bars, hotels, occasions, etc.
8. Pineapple Farming
Pineapple farming is an untapped lucrative agricultural business in Nigeria.
Pineapple has a huge market demand as it is used in producing several beverages, and drinks and is also a major constituent of fruit salad.
Therefore, if you have a large pineapple plantation, you’re guaranteed of making a decent income within a short period of time.
Which Agricultural Business Is Most Profitable?
Sequel to the above discussion on lucrative agricultural business in Nigeria, Diary farming appears to be the most profitable agricultural business in Nigeria.
Dairy farming is the most profitable agricultural business in Nigeria because all the products including waste products have great market demand.
The produces, meat, and milk are in high demand while the waste products serve as a great source of manure.
Agriculture is the new oil in Nigeria as our economy is gradually been diversified to the agricultural sector.
This, therefore, makes agriculture a very lucrative business venture and it is advised from everyone’s position in order to take advantage of this great untapped sector.
We’ve discussed numerous lucrative agricultural businesses in Nigeria anyone can start with little capital irrespective of their location and make a decent income from it.