Welcome to another guide post: How To Start Farming Business In Nigeria!
Maybe you are interested in the farming business but don’t know where to start, or you are here for educational purposes. Whatever the case may be, we have covered a comprehensive guide on how to start a farming business in Nigeria, so continue reading!
How To Start Farming Business In Nigeria
The farming business is no doubt one of the most lucrative businesses one can ever start, not only in Nigeria but in the whole world at large.
People who are into farming are fetching a good amount of money, especially now that food and other agricultural products are highly expensive.
The simple fact about it is that all humans depend on food for sustainability, and we frequently make use of agricultural products, making farming a money-making business that will never be obsolete.
Now that Nigeria is planning to diversify the economy from the oil sector to agriculture, it will also be an added advantage to anyone willing to start a farming business in Nigeria.
The question now is, How can you successfully start a farming business in Nigeria? If you ever ask this question, know that you are not alone, and that’s where this piece of information comes through!
Agricultural Products In Nigeria
Nigeria is blessed with a land that can grow different kinds of plants and also rear animals. For clarification, agriculture is broadly divided into four (4) sectors in Nigeria: crop production, fishery, forestry, and livestock.
The largest segment is crop production, accounting for about 87.6% of the total agricultural output in Nigeria, followed by livestock (8.1%), fishing (3.2%), and forestry (1.1%), respectively.
Here are some of the top agricultural products in Nigeria:
- Sweet Potatoes
- Mangoes, etc.
Steps To Successfully Start A Farming Business In Nigeria
Below are the steps to successfully start a farming business in Nigeria:
Step 1: Do research
This is not only in the farming business, the first step to consider when starting any kind of business is research.
You need to conduct research to understand the agricultural systems in your country and also Identify which of them are highly productive.
Research can also provide you with full knowledge of what type of crop or livestock people are more interested in buying and where to source the breed.
You will understand the advantages and disadvantages involved in all kinds of farming practiced in your locality in order to choose the one that is risk-free or even have knowledge of how to deal with such disadvantages.
There are so many important things you will understand during your research. Therefore, it’s highly recommended for anyone willing to start a farming business in Nigeria.
This research can be done in different ways, you can consult expert farmers or even go to the marketplace, where you will meet both farmers and buyers for advice.
Step 2: Make a decision
After making that research, you need to decide the type of farming you are interested in. Is it crops or livestock? If it is livestock, you have to decide whether it is Poultry, Pig, cattle, goat, rabbit, or anyone that meet your expectations.
Making a decision is an essential step to consider if you want to be successful in the farming business. It is the beginning of your career in farming so if you failed to make a perfect choice it will result in your failure.
Just like we previously stated, you have to consider certain factors before making a decision. These include the risk involved, how profitable it is, how best you can manage it, and how productive it is in your locality, among others.
Step3: Do a survey
Farm surveying is simply the measurement and mapping of the position, size, boundary, and topography of an area of farmland.
Doing a survey will help you determine so many things, these include:
- The size of land you will be covering
- The best type of soils for your farming
- The kind of agricultural system to adopt
- The amount of fertilizer, seeds, and chemicals to be used
- The security of the land.
Step 4: Raise capital
Now that you have done your research, decide, and also done a survey, it’s safe to assume that you have known the amount of money you will need to successfully start up your farm business.
Capital is the backbone of every business. Just imagine having all the ideas but there is insufficient or no money to put them into practice.
One thing about the farming business is, it doesn’t require a huge amount of money to start up except if you went for money-consuming farming. In this case, it’s advisable to choose the type of farming you are capable of handling for a better result.
The most convenient way to start up a farm business is with your capital. Nevertheless, if your savings don’t meet up with the required amount, you can go through partnership/equity funding, or acquire a loan either in banks (like the Bank of Agriculture) or through your relatives.
Check out the following articles if you need a loan:
- How To Borrow Money from Zenith Bank
- How To Borrow Money From Palmpay
- Top 8 Best Loan Apps In Nigeria
How To Start Farming Business In Nigeria
Step 5: Register your farm business
By registering your farming business, you will stand a chance to benefit from both governmental and Non-governmental organizations (NGOs). These include receiving a loan and participating in supports meant for farmers, like the distribution of farm machinery, and fertilizers, among others.
Step 6: Secure adequate land
You need to secure adequate land for your farming business. We have already stated in step 3 that you have to survey in other to determine the size of land you will be covering and the type of soil best for your farming business.
Most of the farmers in Nigeria are facing the problem of poor yielding simply because they failed to source out the land that is best for their farming business.
Is it maize farming, or cassava? don’t just choose, make sure the land is fertile for the kind of crops you are planting, and also consider the size.
Step 7: Obtain farm tools and equipment
I believe you have already known much about this step, but to clarify more let me still explain. Farm tools and equipment are some of the things used in caring out farm activities.
There are many types of farm tools and equipment, these include hand tools, power tools, tractors, and countless kinds of implements used in farming.
Some of the common farm tools are:
- Light hoe
- Spading fork
- Hand Fork
- Hand cultivator
- Tractors, among others.
Obtaining farm tools and equipment depends on the kind of farming you are doing and what you are intending to use them for.
Step 8: Choose the right breed
Choosing the right breed is another wonderful step to consider when starting a farming business in Nigeria!
In crops, you have to identify which plant seeds that are highly productive and more appropriate for the available soil type.
The same thing is applied to livestock farming. For instance, if you are going into pig farming, there are a lot of breeds available like Large White (Yorkshire), Landrace, Duroc, Poland China, Camborough, Hampshire, Chester White, etc. It’s now your duty to research and choose the breed you can best manage.
Step 9: Hire farm Laborers
The final step we are going to discuss is hiring of farm laborers!
Farming is a business that requires a lot of laborers right from the time of cultivation to harvesting. Oh yes! A lot of work is been done on the farm so you need more hands to facilitate the work.
In crop production, these laborers can help you do things like clearing bushes, making heaps, planting, irrigation, application of fertilizers, harvesting, pest and rodent control, etc.
In livestock, they will help you take care of the animals through regular feeding, regular checkup, and treatment, among others.
Except if you are doing a subsistence farming, otherwise hiring people for your farming business should not be left out of your planning.
How To Start Farming Business In Nigeria: Summary
Below is the summary of how to start farming business in Nigeria:
- Do research
- Make a decision
- Do a survey
- Raise capital
- Register your farm business
- Secure adequate land
- Obtain farm tools and equipment
- Choose the right breed
- Hire farm Laborers
How To Start Farming Business In Nigeria: FAQs
Here are some of the top questions people usually ask when starting a farming business in Nigeria.
Which farming is most profitable in Nigeria?
There are so many types of farming that are highly profitable in Nigeria. A few to mention are:
- Rice farming
- Cassava farming
- Yam farming
- Pig farming
- Poultry farming
- Fish farming
- Maize farming
- Beans farming
- Snail farming
- Goat farming
- Honey bee farming
- Groundnut farming
- Vegetables farming, among others.
How much does it cost to start a farm in Nigeria?
The amount of money you can take to start a farm in Nigeria depends on the type of farming you are willing to start. Is it commercial or subsistence farming? If it is commercial farming, what is the type, and is it money-consuming?
To answer the question better you need to make some research and decide on the type of farming you will start, and after that, you will carry out a survey.
If it’s crop production, you have to determine the size of land you will be covering, the kind of agricultural system to adopt, and the amount of fertilizer, seeds, and chemicals to be used.
With this, you can know the exact amount of money it will cost you to start a farm in Nigeria.
How To Start Farming Business In Nigeria: Conclusion
Farming is one of the most lucrative businesses in Nigeria and other parts of the world, and will never be obsolete.
You can practically see that the population of the world is increasing on daily bases and agriculture is the only source of the world’s food supply. No matter where or what you are eating, the ingredients in your meals came from somewhere. All roads lead to agriculture.
With this, anyone who is into farming or willing to embark on the farming business should take it seriously like no other business. It can fetch you a lot of money that you can never imagine.
The steps mentioned above are highly recommended if you are willing to succeed in your farming business. There are other aspects that we may fail to cover but through your research, you will discover more.
We will keep updating this page to fit more changes or development on how to successfully start a farming business in Nigeria.
Which type of farming are you interested in? Is it crops or livestock? Let us know what you have to say about the farming business in Nigeria by using the comment section below!