4 Lucrative ways to start a farming business in Nigeria Source: Naij.com Author: Author: Mitchelle Okuku
Farming is one of the biggest industries in Nigeria. The reason for it is pretty simple – there are a lot of people here that obviously need a lot of food, most of which they get from local farmers.
Furthermore, this business is really profitable – there are a lot of land to use for growing; the government provides support, as they understand, that buying products from farmers is much cheaper, than importing from other countries; and Nigerian people are ready to pay the price for high-quality products. If you are ready to start your own business in this field, but you don’t know, where to start, here are a few helpful pieces of advice that can make you rich.
- Which product to start farming? There are a lot of different plants you could start farming, but which of them would be the best as a starting point in your business? It actually depends on the type of land you have and the climate of the area you’ll use. If you have a luxury to choose the place you’ll start at, you should definitely try farming rice.
First of all, this product is really popular among Nigerians, so you’ll always have demand for it. Secondly, it is very easy to make profitable – you can buy a few bags for a relatively low wholesale price, while selling the grown rice for a market price. Another great option is plantain farming.
Firstly, it doesn’t require a lot of resources to take care of, if you’ll pick an appropriate climate. Secondly, you won’t have to plant it every season – you just will have to maintain the plantation, while it will bring you income. Lastly, the product is widely consumable in Nigeria, so you’ll have the demand as well. There are a few more plants you can choose from, like cassava, beans, maize etc.
You should consult with someone experienced, to get an advice on which will work the best for your environment, climate and current state of the market.
2. What do you need to start?
The first thing you need for any new business is a start-up capital.
You need the money on every step of the way. You can start with a really simple and small farm, expanding and modernizing your business over the years. Still, you should get a proper business plan not to go bankrupt before anything starts.
For this, you need to know, what to get prepared to, so, besides the most important things, like land, means to prepare it for the farming, seeds, constant water supply, means of getting rid of pests and wild grass, you need to be ready to hire someone to help you; for unexpected weather conditions that might destroy your crops etc.
Also consider all the things, that are specific for your type of farming, like buying a fertilizer for a cassava farming or getting more water for rice farming.
3. After the start Let’s assume, that your first season has gone great, and now you have your first harvest on your hands, what now? You need to somehow distribute your product. If you’re starting with a small farm, one of the simplest things you can do is to go to your local market and sell it.
But if volumes of your production are quite large, most likely you won’t be able to sell it by yourself in time. You can try selling it on the Internet by placing ads all around the web or on the platform, specifically designed as a marketplace.
Jiji is one of the best websites like this, you can easily place your classified ad and watch your client base grow within minutes.
You can also Install the Jiji app to get the best deals for your business!