5 Profitable Agribusiness in Nigeria

Are you venturing into the agriculture industry? Here are some agricultural business ideas in Nigeria that you can start almost immediately.

In this post, we shared a list of most lucrative agricultural and farming business ideas that anyone in Nigeria can start in 2023.

Poultry Farming.

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.

This is one of the most popular and lucrative agricultural business ideas in Nigeria.

Poultry farming involves rearing domestic birds such as chickens, geese, turkeys, ducks, etc., for commercial purposes.

Even more, these domestic birds can be used for meat or eggs, primarily for commercial purposes.

Besides egg and meat production, there are other lucrative aspects to poultry farming that you can focus on.

Some of these include poultry feed production, manufacturing and selling poultry farming equipment, chicken and egg distribution, selling hatcheries, etc.

For this post, our focus is on rearing poultry birds for meat or egg production.

Poultry farming is no doubt one of the most lucrative agriculture businesses in Nigeria.

This is because of its huge market size.

It is discovered that an average Nigerian consumes about 700 pieces of eggs annually.

Even more, almost every home in Nigeria eats poultry meat (Chicken and Turkey are the most common ones)

Annually, this consumption rate increases due to factors such as the ban on the importation of meat and eggs, the desire to adopt healthier dietary options, and more.

Given this, we can say without a doubt that the poultry farming business is very lucrative and will continue been so for a long time.

Therefore, choosing this agriculture business idea will be a profitable decision.

Maize Farming.

Maize farming is one of the more popular businesses in Nigeria. They could be sold independently or used to make other finished products at home. Also, you could supply maize to companies who use them for production and earn handsomely. Some of its use include corn oil, custard, pap, cornflake, alcohol, and many more.

 Cassava Farming.

With the increasingly diverse use of cassava products in Nigeria, cassava farming is getting more lucrative with every passing day. This farm product has always been a source of livelihood and food for millions of Nigerians. 90% of Nigerian households consume cassava products every day. Some of the popular meals made out of cassava are: garri, wheat-flour, animal feed, commercial caramel, and a lot more. The price of one paint plastic of garri is over #1000, Garri is the most common food you will find in every household.

As the population of Nigeria and Africa as a whole continues to grow, the demand for cassava products will continue to skyrocket, leading to higher revenues generated by cassava farmers. If you’re looking for an agricultural business that would ensure you always almost sell out all your harvests, cassava farming is one great farming business to start.

Plantain Plantation.

One thing I like about Plantain is that when planted once, it keeps producing year in year out for eternity. Like Rice and Garri, Plantain is widely consumed in Nigeria. Any food that is popular in Nigeria is always a huge income earner due to the population of the country.

I really haven’t seen Farmers in Nigeria taking advantage of the opportunity in Plantain Farming to create wealth for themselves. Plantain is highly priced in Nigeria 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. I can tell you, Millions of Naira is currently lying fallow untapped in this sector of Farming in Nigeria.

Honey Bee Farming.

There is a high demand for coconut in Nigeria and the world at large and this demand has outstripped the country’s production capacity for several decades. Coconut products are one of the ingredients used in the beauty, food and pharmaceutical industry.

Coconut can be processed into various products which can be used industrially or as food. Some of these products from coconut processing include; coconut oil, coconut water, coconut meat, coconut flour.