The business space is already saturated with all kind of professional business expert and ventures. Alot has neglected the agriculture sector not recognizing that Agricultural business ventures is the new crude oil and untapped gold in Nigeria. Why? Well, not too many knows that its one very profitable venture that would change their life once you embarked on it. Venturing into agriculture would not only add value to the Nigerian economy but you could make good money at the same time.
This article aims to expose you to obtainable and also guarantees to help you make money if rightly followed. Why agriculture? Well, by statistics we would have billions of mouth to feed with Nigeria being the 3rd most populous country in the world by 2050.
In Lagos alone, Lagosians pays about 8 billion naira per day for food according to Lagos state government, this is different from other cities and countries in Africa. This is the huge potential this industry has. The agriculture sector has a long chain from the food produced by the farmer to the table of the consumer. These 3 agribusiness are profitable and if you want to venture or invest into it, it’s the way to go.
1. Plantain Farming:
A plantain farm can survive for 25 years if we’ll managed. For instance,if you have 5000 suckers on your farm, you can be assured of 10,000 suckers in the second year because they would have brought out daughter suckers which you can use to expand your farm.
The fact that prices are also good, conservatively at N700-1500 per bunch.You can do the maths. For every business,there is corresponding risks. If you want to start this profitable business, make sure the soil and weather conditions are favourable for it. Many years ago, I made a mistake which cost me time, money and energy because I planted in an unfavourable area.
Moreover, you need to plan for irrigation as well, bad weather conditions too should be check. Although, there are different risks and challenges that should be adequately managed to make profit a plantain farm. Just incase you want to invest, ogun state is a good place to start.
If you are considering venturing into Agricbusiness, don’t be too eager to make quick returns, from experience people with that mindset get their fingers burnt. Think medium to long term.
The price of cashew skyrocket from 110k per ton in 2011 to reach about 650k per ton in 2018 and it’s projected to go up because of the demand. According to blogger, Lesgupnigeria, Ogbomoso produce the best cashewnut in the world and its the home of cashew. Life of small scale farmers have been changed cultivating this crop and the most important thing about it is that you keep generating returns up till 50years if well managed.
If you are thinking of venturing into agribusiness, this should come on top for long term/short-medium term depending on whether you will be planting another crop with it. The demand were so high that we could not supply our partners about 500 tons and therefore we are focusing on expanding our cashew cultivation.
3. Cassava Farming
Nigeria is the largest producer of cassava tubers in the world and it is a staple crop important to most of the populace.
It takes just 10 months to cultivate and harvest.
It can be intercrop with cashew and vegetables/okra/tomatoes etc. It’s also profitable but if you want to start cassava, you must note the following. First, use hybrid stems; there are lots of stems you can use, you can register or pay a visit to our farm to educate you.
Second, regular weeding on the farm is very important. The above agribusiness are what you can venture into with guaranteed returns if done well.
What are your thoughts on this? Kindly leave a comment and don’t forget to share