One of the most lucrative business sector across the world, including Nigeria, is agriculture. As such, some state governments have embarked on diversifying their revenue sources into this sector.
Certain initiatives, funding and even palliatives are already in place for those who intend to, or are already into agricultural value-chain.
Hence, there are lots of loans or financing options available for agriculture entrepreneurs in Nigeria.
There is a dedicated Bank of Agriculture operated by the federal government through the Ministry of Finance, Central Bank and Ministry of Agriculture. Similarly, many business lenders give lots of preference to the agriculture sector.
This, in itself, is a motivator for those who want to have multiple streams of income. So, even if you are a civil servant or having a full-time job, you can invest in agric business.
Agricultural Business For 2022
Here are agric businesses that will give you good returns on investment within a short period of time:
Chickens, ducks, geese, turkeys, and birds in general, would always be in high demand for their meat or eggs. Therefore, this puts poultry farming as one of the most lucrative agric businesses in Nigeria that you can do.
Also, another added advantage is the fact that the cycle for this bird growth is much shorter than planting. In all, it gives room for quick money both in selling bird meat and their eggs.
The fact that snail farming is one of the least engaged agric businesses in Nigeria, creates a lot of room for opportunities. In reality, this business is very lucrative, allowing you to earn money within a short time. Also, if you can successfully grow your snails in the dry season, you'd make a lot of money.
Since the banning of rice importation by the government of Nigeria, rice farming has boomed for farmers. Nigeria still doesn't meet local demand, therefore, making rice expensive in the country. If you're looking to enter into agriculture, you should really consider rice farming.
As a Nigerian, you should not be shocked to see catfish farming on this list. The fact is, Nigerians love catfish due to their sweet and tasty nature, as such there's a high demand for the animal all year long. Also, catfish farming is very easy to set up, as it can be done in your home. In addition, it can be sold in different ways e.g. smoked or fresh. It's used in so many delicacies in Nigeria.
Palm Oil Business
Palm oil is gold. Most of the things you use from cream to soup and many more, are made from palm oil. There are many companies around the world that import palm oil from Nigeria. This business is very lucrative.