10 Lucrative Farming Businesses In Nigeria Updated In 2022

1. Rice Farming - Nigeria has one of the world's highest Rice consumption statistics. Rice is by far one of the most popular staple food among Nigerians, almost everyone eats rice daily in Nigeria.  

 

By statistics of about 9 years ago in 2011 alone, Nigeria spent Over N991 Billion on Rice importation and the rice we import is said to probably be nothing less than 5 years old in storage.  

 

That means we spends billions buying Rice that might have lost it's nutritional value. Any Entrepreneur in Nigeria who continues to practice Rice Farming is sure to be smiling to the bank. 

 

A bag of Rice is currently sold for between N18,000 Local Rice to N42,000 Foreign Rice, depending on the quality and source. Any Farmer who is able to invest in large scale Rice Farming in Nigeria and produce for example 100,000 Bags of processed Rice in a year and sell at wholesale price of about N18,000 per bag, he will be making 18,000 x 100,000 = N1,800,000,000 per 100,000 bags.  

 

 

You can achieve the above figures conveniently with less than a million capital investment. There is good logistics and plannings to achieve this.

 
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 in Nigeria, I think if one is King the other will be Queen. 

 

A bag of Garri costs almost the same as a bag of rice, and apart from Garri, there are many other food stuff 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. 

 

Most land areas are good for growing Cassava and 1 Acre, when properly planted and managed can produce Thousands worth of Cassava sales in a year!

 
3. Plantain Plantation - One thing I like about Plantain is that when planted once, it keeps producing year in year out continuously. Like Rice and Garri, Plantain is widely consumed in Nigeria and any food that is popular in Nigeria is always a huge income earning business due to the population of the country, The largest country in africa. 

 

 I really haven't seen many farmers in Nigeria taking advantage of the opportunity in Plantain Farming to create more wealth for themselves. Plantain is highly priced and is always in high demand all year round. Fry it, Boil it, Roast it, it will never get angry with you, that's how liberal Plantain is. Millions of Naira is currently lying fallow untapped in this sector of Farming in Nigeria. 

 

 4. Poultry Farming- Everyone knows how 'Cashy' this is, it doesn't need much introduction and yet it's still not fully tapped in Nigeria. What we currently have in Nigeria are few well managed,Some scantily equipped poultry farms here and there. 

 

Yet to see a full fledged, high tech Poultry Farm in Nigeria, except Obasanjo Farms and few others, as it is in The USA and Europe. Any Entrepreneur who is able to fire this up will have huge Cash profit to contend with. The reason is because Nigerians eat chicken more than most other farm animals as it is relatively affordable in whole and 60% of our consumption is still imported. The egg in poultry production is yet another goldmine! 

 
5. Pineapple Farming - Money is sweet, everything sweet is money, and Pineapple is sweet. Ask any Australian Farmer and he will tell you how huge the income in Pineapple Farming is in their country. Any juice maker that doesn't have Pineapple flavor variety in his product line is not yet in business. That tells you how popular Pineapple is, not only in Nigeria but Worldwide.

 
Nigeria seems to have better soil for Pineapple Farming than Australia where Farmers are making it big in the business. A Pineapple sells in a market in Lagos for about N300 depending on size -- If you are able to harvest one million in a year, you'll be sure of at least N120 x 1,000,000 = N120,000,000. 

 
6. Beans Farming - A bag of Beans costs twice more than a bag of Rice and Garri, the Northern Nigerians are making it big in Beans Farming, supplying almost all Nigeria and beyond. But one thing is that, this same Beans also can do very well in the South East, South West, and South South Nigeria soils.
7. Catfish Farming - Catfish Business is really hyping in Nigeria right now but how many are really getting it right? Get it right and you are in money. A single Catfish sells for Like N800 in Restaurants and about N500 in open market.

 
8. Goat And Ram Rearing - It's mostly in the Northern part of Nigeria that Goats and Rams are reared in commercial quantity. You can also engage in this productive Farm Business.   

 

In The USA and Australia, Farmers are among the very rich people - Get involved in professional Goat and ram rearing and make money for yourself. A full grown Goat or Ram sells for between N25,000 to N80,000, very high especially during Ramadan the Islamic festive season.

 
9. Snail Farming - Snail Farming is gradually picking up in Nigeria, -- but if you don't hurry up, others would have made the money before you realized what you've missed. The potential in this business for you is about N10,000,000 Annual revenue.

 
10. Maize Farming - You never know the profit in Maize Farming in Nigeria until you try it, and one thing I like about it is that everything happens fast. 

 

It takes less than Four months between planting and harvesting.  Irrigation is currently very important, So Stand up. Get involved in any of these Farming business and you will never regret it. Stay Safe and Have a nice day.