Top 8 farming business that can make you millions by Yusuf.

In the light of dwindling oil revenue and Nigeria’s historic dependence on it as her sole source of income, there’s a renewed cry for the diversification of the economy. While many options exist,agriculture seems to be a quick and fast way to optimize our available resources for collective wealth creation for the country.

Agriculture is already a hot cake in the country. One thing i am certain of and that i have numerous experiences about Agribusiness is that it is highly lucrative but you must know the hidden facts before venturing into it and this is what I am trying to do; to expose you to some of these intricacies especially for newbies.
Before I delve further i feel the need to dispel some myths about agriculture which become necessary for people that are new and a little far away from farming business. Hence, it will be good to understand why your earlier investment failed

Myth 1: Farming business is hard work, I can’t invest in it. Farming business is indeed hardwork but increasingly becoming more intellectual than physical.With knowledge of technology such as improved seeds, irrigation,fertilisation, crop protection; its becoming less dependent on physical exertion. However, one thing many fail to realize is that investing in agriculture does not necessarily have to be on farm. People need to understand the value chain perspective of agriculture and see what part of the value chain they have an appetite for and go for it.

Myth 2:  I need a sound agricultural background to invest in agriculture. The truth is that in any  investment, a technical knowledge always comes in handy but it’s overrated to think without that knowledge, you cannot invest. It will however be helpful to build your technical knowledge and expertise along the way. You will be amazed at how relevant even your current skills are to succeeding in agricultural investments. When I started investing in agribusiness, I did not have all the knowledge I have now but gradually through experience, mistakes and reading, I am now very conversant and confident doing the business of agriculture.

Myth 3: You cannot go wrong in agriculture I am sure some of you will have had horrific experiences investing in agriculture and lost money doing it. Long gone are the days when you think agriculture is about throwing the corn seeds in the soil, go to sleep and come back for a bountiful harvest or buy the birds, let them run around and get your daily crates of eggs. If you want to make money in agriculture, you have to understand that it takes good management to succeed. Managing your farm requires you to have some entrepreneurial skills without which you might not be able to survive long in the business. You have to also do your research. There was a wave of cassava investment at a time without a clear idea of the market to absorb that particular variety of cassava that was grown. Yes, while some varieties might be great for garri making, they might not be suited for processing into beer. A lot of research has to be done. some places are good for a particular type of crop while some places are not.

Top 8 farming business that can make you millions

1.Plantain Farming- The advantage plantain had over other crops is that once planted, it keeps producing year in year out for decades.
It is widely consumed in Nigeria and value can be added to its raw form into flour and chips. I really have not seen farmers in Nigeria taking advantage of the opportunity to create wealth for themselves.
if you harvest 1500 bunches sold at N800 per bunch (flour factories), you know the maths

2.Cassava Farming – Cassava farming is also very lucrative and it can do well on any type of soil. There is increasing demand as more brewing companies using cassava as raw material are being established. Its one of the most cultivated crop by farmers but its potential is not yet fully tapped due to lack of information on how to sell profitably.

To breakeven and profit from cassava, at least 5 hectares should be cultivated; a ton goes for N15k;a hectare produces 25 ton, Now do the maths

3. Poultry Farming – its only a blind man that will say this type of farming is not lucrative. A chicken can be sold between N2,000 to N2,500 and the cost of rearing one is about N800.  Now,If you have 1,000 birds,you are a millionaire.
4. Snail farming– snail farming is another huge income earner. Its cheaper to setup and snails reproduce fast.

5.Maize farming – it takes 3 months from planting to harvesting. Its hard to believe that companies who makes use of corn as raw material import them and some people still smuggle it into Nigeria.
6.Catfish farming– A single catfish goes for 900 in restaurants. if you have stock 2,000 of those, you know how much you would have made.

7. Tomato farming– Even before tomato ebola create the supply gap where people want to venture into tomato farming business,tomato business has always being a very lucrative business to start.
8.Vegetable farming– cucumber, okra etc are very lucrative. what you need to know is what your customer needs and then produce to supply them.Get good varieties, cultivate (1-2 months) and start making your cool cash

Act now. Get involved in any of these farming and you will never regret it.

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