23 July 2018

Nigeria: Why You Should Take Pig Farming Serious in Nigeria

Photo: Pontian Kabeera/The New Times
(file photo).

There's a surge of interest in the Agricultural sector in Nigeria. A lot of entrepreneurs are taking on various areas of agriculture; disrupting and transforming it into viably successful endeavours with I.T. From maize farming, rice production to poultry farming and fishery. Farming is starting to recover its age old respectable reputation.

Like the telecommunication and internet wave of the early aught, agriculture is the new cool kid on the block. Remember the good 'ol days of cash crops? We have come full circle. Let's welcome back our prodigal cool kid with open hands.

One area of agriculture that is rather ignored is Pig Farming. Now, here's the catch to that ignorance. Pigs, as livestock, are hands down, the most profitable. Here's why.

Pigs produce more meat from lower amount of feed of any livestock. They give birth quite fast, with as many as 24 piglets in a year. That could be less significant if not for the fact that they are also so resilient; they have the least mortality rate of any livestock. That is an almost 100% production to supply value. Unheard of of any livestock. Think about it. Not fish, poultry, snail or any significant animal protein source generates that amount of value.

What's more? The pork market in West Africa alone accounts for about $3 billion consumption value. 80% of that is from importation. Now imagine the economics of other pig produce. Sausage, ham, bacon etc. That is a lot of untapped revenue.

A company is building a Pig Farming stronghold in West Africa to address this. PorkMoney farms pigs. They care for and breed them till maturation, chop, process and package for sale to wholesalers and retailers. The business model welcomes partnerships from the public to fund the system. They then pay partners returns to the tune of up to 35% in 11 months.

This is a pretty sound venture. They are not just bridging the gap between production, processing, packaging and the end user. They are localising the market thereby retaining opportunities within the continent.

If this doesn't inspire you to, at the very least, take even a cursory glance at Pig Farming, what will?

F

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