In this article, you’d be seeing 7 very lucrative agricultural businesses ideas that can make you a millionaire in Nigeria. Agribusinesses are now the goldmine, especially in a period like this when it appears other sector are failing the economy. We can survive without the internet and other things, but definitely not without foods.
Categories of Agricultural Businesses
Before we continue, we’d have to explore the three broad categories of agribusinesses, they are:
- Agricultural commodities like raw and processed commodities of food and fiber.
- Productive resources like feed, equipment, seed, fertiliser, machinery, energy, etc.
- Facilitative services like insurance, credit, marketing, transportation, storage, processing, packing etc.
Most profitable business ideas in agriculture
Below are some of the very lucrative agribusiness ideas you can venture into in Nigeria:
Fertiliser distribution business
Fertilisers distribution business involves buying and selling of fertilisers in large quantities. You can be dealing on both the organic and inorganic fertilisers. Your customers will include farmers and retailers.
Please read up all you need to know about starting a fertiliser distribution business on our sister site.
Poultry farming has over the years, transformed from the typical backyard farming into a techno-commercial industry. In fact, it is considered one of the fastest growing agricultural business sectors in Africa.
Snail farming simply involves raising snails for human consumption. Snails are highly proteinous, and also contain a high rate of iron and amino acids. It is also one of thelucrative agribusinesses to venture into in Nigeria because of the high demand for snails.
Are you in search of a business that you’d be able to run throughout a year? Then fish farming will be a great choice for you. You can also start it with a little capital on a small scale.
I know quite alright that many families have advanced from using the traditional brooms to brushes. But a greater percentage of the populations still make use of those brooms gotten from the palm trees. On visiting the local markets, you’d see lorry loads of brooms being offloaded. You can also start it with a moderate capital.
Basket weaving is similar to the broom making discussed above and can also be started with a moderate capital. One needs to possess a creative mind before venturing into this because it involves creating designs. You can start weaving and selling baskets from any location of your choice, including your home.
Livestock feed production
Livestock feed production involves the manufacturing of animal feed like poultry feed, goat feed, cattle feed, bird food, dog food and several other types. It is also very lucrative and can be started with a moderate capital.
Pig farming is the raising and breeding of domestic pigs as livestock. One thing you need to know about raising pigs is that everyone won’t be patronising you. For instance, some religions restrict their members from eating pork. Not withstanding, you will still make good money because of the number of Nigerians that eat pork on a daily basis.
A hatchery is a place where fertile eggs are hatched, most particularly on a commercial basis. It is the technique or method of using incubators to incubate and hatch fertile eggs. You can also make money from setting up a hatchery business in Nigeria.
When talking about the most consumed meats in Nigeria, goats will definitely be topping the list. Goat farming is very lucrative, and you won’t have issues getting sales, especially during the festive periods.
Because of the nutritional values of the mushrooms, it is undoubtedly one of lucrative agricultural businesses to venture into in Nigeria.
By doing this business you can make good profits in just few weeks. It requires a low start-up capital investment. Even with a little knowledge of mushroom growing and with a farm mushroom farming business can be done.
Maize is one of the main cereal crops of West Africa and the fourth most consumed cereal during the past two decades, after sorghum, millet and rice in Nigeria. When talking about the production, Nigeria ranks the second highest in Africa and the 11th highest producers of maize in the world.
Maize can be eaten in used in the production of many different foods including egbo, kokoro, donkunnu, gwate, donkwa, couscous, aadun, nakia, maasa, elekute and many others.
Frozen chicken production
Frozen chicken sales and production business is another very lucrative agribusiness you can venture into in Nigeria. Many families prefer cooking it because of its convenience. You won’t have to pass through the stress of having to peel the feathers before cooking. In addition, you can also go for just the parts you like, instead of the whole chicken.
The palm tree is one of the most useful trees one can find around. You can get palm oil, wine, brooms, baskets and many other things from the tree. The business however requires much, you’d have to get a large acre of land and wait for the first set to mature. After, you can start harvesting the palm fruits while planting new ones that will serve as a replacement in the near future.
Ugu is one of the most consumed vegetables in Nigeria. It is used for cooking different dishes ranging from soups to yams and many others. We previously listed out how you can start making as much as ₦800,000 monthly from an ugu, I suggest you check it out too.
Watermelon farming is another money spinning business in Nigeria today. It is one of the fasted selling agricultural-products in the local and international market and widely cultivated and consumed all over the globe.
The demand for watermelon is high, so venturing into it will be a great decision. Watermelon is also very easy to cultivate as it does not involve much work. It has the capacity to make a farmer wealthy within the shortest possible time.
Other lucrative agribusiness ideas:
- Broccoli farming
- Pawpaw farming
- Duck farming
- Date palm farming
- Shrimp farming
- Yam farming
- Cattle farming
- Citrus farming
- Guava farming
- Green house flower export
- Potato farming (sweet/Irish)
- Soya beans processing
- Beans farming
- Landscape expert
- Potato chips production
- Medicinal herbs farming
- Avocado farming
- Groundnut processing
- Fodder farming for goats and cows
- Tea growing
- Fruit juice production
- Grocery e-shopping portal
- Garden egg farming
- Quail egg farming
- Agro-farming blogging
- Cactus arrangements
- Soil testing lab
- Horticulture crop farming
- Cassava farming
- Cashew-nut processing
- Tomato farming
- Waterleaf farming business
- Rice farming
- Sugarcane farming
- Snake farming
- Grasscutter farming business
- Soursop farming
- Plantain farming
- Onion farming
- Turmeric farming
- Walnut farming
- Moringa farming
- Coconut farming
- Cocoa farming
- Lettuce farming
- Breadfruit farming
- Rubber farming
- Bamboo farming
- Tiger nut farming
- Cabbage farming
- Ginger farming
- Mango farming
- Hibiscus farming (zobo)
- Okra farming
- Coffee farming
- Apple farming
- Cashew farming
These are some of the lucrative agribusinesses you can venture into in Nigeria. I hope this article helps you.
Don’t hesitate in dropping us a comment if you need further help in any of the above listed businesses.