How To Start A Farming Business In Nigeria- Farming business is one of the ever-green business in Nigeria and even in other parts of the world. It is one of the business you can venture into and get a lot of profit from. In this post, we will walk you through on how to start a farming business in Nigeria. You will also get to discover some profitable farming business ideas you can get involved in Nigeria.
How To Start A Farming Business In Nigeria
Step 1: Do an in-depth research
In starting a farming business in Nigeria, you must do a deep research. What type of farming is lucrative/ right to go into at that time, what kind of farming thrives in your location? For instance, onions farming thrives more in Northern Nigeria.
Step 2: Have a business plan
This is important as it will serve as a guide when running the farming business and also when you need to get into partnership or secure loan from the bank. A business plan usually contain a summary of your business , the objective, strategies, projections, etc.
Step 3: Equip yourself with the right knowledge
After you have done your survey and have made up your mind on the type of farming you want to get involved in, you should get the right knowledge. Read materials/ books on such type of farming , talk to experts. For instance if you are going for maize farming , you should know the planting season for maize, pests and diseases affecting maize and how to prevent such, etc.
Step 4: Source for capital
If you want to run a farming business in Nigeria, you will need some funds. The amount of funds you will need for the business will depend on the type of farming you are choosing. This is why you need to make indepth research on different types of farming before choosing one and starting out.
Here are different ways to source for funds:
- Personal savings
- Gifts (from family and friends )
- Bank loan
- Soft loan
- Agricultural loan
- Angel investors
- Crowd funding
Step 5: Get a farmland
The type/size of farmland you should go for will depend on the type of farming you want to get involved in. For instance, if you are going for snail farming, you just need a small portion of land. But if you want to go into maize farming, then you will need a large expanse of land.
Step 6: Start acquiring needed tools and materials
After sourcing for funds, the next step is to source for materials/ tools to carry out your farming activities. For instance, if you want to plant maize, you need to get your seedlings, fertilizers, source of water, hoe(if you are farming on a small scale) or ridger (if on a commercial scale).
Step 7: Start farming
Once you have acquired the tools , then start farming. If you are confused on how to begin, you can talk to an experienced farmer or read books or watch video tutorials on what to do. If you are farming on a large scale (commercial), you will need some extra hands( farm labour).
How To Secure Loan For Your Farming Business In Nigeria
Funds should not stop you from running a farming business in Nigeria. Peradventure, you are not able to get capital from personal savings, friends and family or angel investors. You can get specific agricultural loan to fund your farming business in Nigeria.
Follow the steps below:
- Visit the bank of Agriculture in your state
- Tell them you need a loan for your farming business in Nigeria
- You will be given forms to fill
- Fill the form and back-up with required documents
- You will also be required to provide a guarantor or surety
- Wait for feedback from the bank
The truth is this: it is not everyone that applies for agricultural loan that gets. There are some tips that can help make you the preferred candidate for the loan. Here is how to qualify for agricultural loan from bank of agriculture:
How To Qualify For Agricultural Loan From Bank Of Agriculture
- Choose a type of farming that is highly profitable. Examples of profitable farming ventures include: rice farming, snail farming, maize farming, cocoa farming, etc.
- You should have an account with the agricultural bank that is at least 6 months old.
- Have a good business plan
Profitable Farming Business In Nigeria
It is not enough to desire to run farming business in Nigeria, you must go for the profitable type of farming . Below are the types of farming business in Nigeria that would yield some good profits for you.
- Cassava Farming
- Rice Farming
- Poultry farming
- Snail farming
- Maize farming
- Pig farming
- Catfish farming
- Honeybee farming
1. Cassava farming
Cassava farming is one of the lucrative farming business in Nigeria. Cassava is a source of food that many Nigerians live on daily. Cassava when harvested can be processed into garri, fufu, wheat flour, animal feed, etc. As a cassava farmer , you are sure to make massive income per time.
2. Rice farming
This is another profitable farming business in Nigeria. Rice is a staple food in Nigeria, consumed daily by Nigerians in large quantity. Rice produced in Nigeria is not enough yet, so we still have to depend on imported rice. So if you have to venture into rice farming, you are really going to profit massively. Before your harvest lands, the buyers are already waiting.
3. Poultry farming
It is another lucrative farming business in Nigeria. It involved raising of domestic birds like ducks, turkeys, geese and chicken for meat and eggs. Poultry birds have short maturity window, thus making it easy for poultry farmers to make some good money in a short period of time.
Poultry products are in high demand all year round during festive seasons and at other times.
4. Snail farming
Another good farming business in Nigeria that you can engage in is snail farming. Snails are in high demand in the market and are usually expensive. As a snail farmer, you have a ready market.
5. Maize farming
It is a thriving farming business in Nigeria. Maize is another major food source in Nigeria. Maize when harvested can be processed and eaten in many forms. Infact, some food industry rely on maize as their major source of raw materials.
Maize can be processed into Pap, custard, corn flour, corn starch, corn flakes, etc. Even breweries rely on maize to produce alcohol.
6. Pig farming
Another excellent farming business in Nigeria is pig farming. Pig meat (popularly known as pork) is in high demand because of its high protein and appetizing taste. If you are looking for a farming business idea that will yield turn over in a short duration, go for pig farming. Moreso, pigs are prolific breeders that can birth about 10 to 14 piglets at a time.
7. Catfish farming
It is another profitable farming business in Nigeria. Catfish is a very good source of protein , very tasty and is thus in high demand in Nigeria. Catfish is in serious demand both at retail and wholesale level all year round.
To start a catfish business, you don’t need a large space, just a small portion of land is enough. Infact, some persons even use buckets to rear their catfish (on a small scale).
8. Honey bee farming
There is a high demand for honey in the market. So if you desire some extra cash , with a little space at your backyard and wont mind some sting from bees, then you can venture into honey bee farming. It is one of the profitable farming business in Nigeria.
Skills Needed To Do Farming Business In Nigeria
1. Problem solving skill
As you work on the farm, issues may come up like delay in rain fall, pest invasion, unpredictable weather, etc. You cannot close down your farming because of issues, you must know what to do to address such issues.
2. Time management skill
As a farmer, you must be able to manage your time very well, know when to work and when to take time off work. Farming itself involves timing . For example, if you miss a planting season, your harvest may not turn out well.
3. Organizational skills
As a farmer, you must be organized. You must keep accurate records of activities and necessary documents.
4. Leadership skills
As a commercial farmer, you will be needing extra hands to work with you on the farm. You must be skilled enough to lead and manage these farm labour in order to get desired results.
5. Communication skills
You need some level of communication skills: both verbal and written. You will need to relate and give instructions to your farm labour. You will also be interacting with customers and other important personnels . Other skills needed include interpersonal skills , adaptability, computer skills, etc.
Farming business in Nigeria is one of the thriving businesses in Nigeria. With the right knowledge, right tools and adequate resources, you will do well at farming business in Nigeria.
Frequently Asked Questions
What type of farming is easiest to make money from?
Livestock farming is one of the most common and easy type/kind of farming.
How much do I need to start a farming business in Nigeria?
This depend on the kind of farming you want to get involved in and also the scale of farming ( large / small) . You may need to talk to experts or experienced farmers to ascertain a figure.
- www. indeed. com – Farmer skills: Definition and Examples
- www. invoice. ng – 8 Most Lucrative Agricultural and Farming Business Ideas In Nigeria
- www. infoguidenigeria. com- How to start farming business in Nigeria and make millions from it