Profitable Crop Farming Businesses in Nigeria - Top 15
Farming is a lucrative business that has been waving off poverty for the past years to date. This business has created opportunities for many people, and it has produced several millionaires. However, crop farming is one of the best agricultural businesses making so many waves in Nigeria and other parts of the world. It is why we have come up with a list of the most profitable crop farming businesses in Nigeria. It is to help you in choosing the crops that can do well in a particular season to avoid loss. Here is the list of the most profitable businesses in Nigeria.
Cassava Farming Business
Cassava is one of the most popular sources of food for Nigerians. This type of farming is also one of the easiest farming businesses because you only have to bury the stems in the soil. Various foods come from cassava, including Garri, flour, semo vita, fufu, etc. Even the peel is helpful for the feeds of ruminant animals. Also, cassava farming won't keep you waiting forever before harvesting. In six months, you must have been harvesting from your cassava farm.
Moreover, virtually every land is suitable for starting a cassava farm, but the states famous for this farming are Ondo, Kogi, Imo, Delta, etc. Furthermore, cassava is a primary source of food that can't be avoided in Nigeria because of the many things obtained from it. Hence, the high demand results in increased profitability.
Corn Farming Business
Corn farming cannot be overlooked when discussing the most profitable crop farming businesses in Nigeria. The reason is that many people see it as local fast food in Nigeria. Most people enjoy consuming maize. While some want theirs being roasted, some would prefer theirs being boiled, and others would love theirs with beans. Even we get pap, poultry feeds, and beverages from maize. The high demand for maize has made it a very profitable crop business in Nigeria, and if you do it properly, you will earn more than 50% returns. Also, the planting and harvesting of maize don't take up to four months, and the whole process is speedy.
Soya bean Farming Business
Soya beans is a profitable business in Nigeria because you can utilize the crop in several ways. Research has it that Nigeria is the biggest producer of this crop in the whole of Africa. Still, it has not expanded because only small farmers seem to be venturing into the farming business. There is a high demand for soya beans because it has so many healthy components that make it helpful in treating chronic diseases. Also, people produce nutritional animal feed, with soya beans being a large part of the ingredients. So, you can't run at a loss if you venture into this farming.
Pepper Farming Business
Pepper farming is lucrative. Everyone knows that. In the Northern part of Nigeria, they engage in pepper farming more than any other farming business. Chilli pepper, cayenne pepper, and hybrid pepper are the most popular types of pepper that Nigerians consume. The pepper farming business is very profitable. For instance, you can harvest the hybrid pepper within five days, so if you have stands of pepper in a plot, you will get about a bag of pepper every four days, which amounts to #8,000 to #12,000 per bag depending on how scarce pepper is. So, on an acre of land, you could be getting 4-5 bags weekly. That's a lot of money from the pepper farming business.
Sorghum Farming Business
Sorghum is a versatile cereal crop that has a fast-expanding market. After the US and India, Nigeria is the third-largest producer of this crop worldwide. Going into the sorghum farming business comes with lots of opportunities for the farmer because it is one of the popular cereals in Nigeria. However, sorghum is helpful in several ways like alcohol production, livestock feed, poultry feed, etc. That is why it has a high demand and market potential. Also, there are four different types of sorghums that Nigerian farmers produce. They are sweet sorghum, grain sorghum, forage sorghum, and biomass sorghum. It doesn't matter what kind of sorghum you choose for farming. You'll earn lots of profits, especially when you have an excellent supply chain network.
Plantain Farming Business
This farming business is one of the most profitable crop farming businesses in Nigeria. This crop farming doesn't require much from the farmer. Once you have a great sucker and a rich land, you are good to go. However, this crop is in high demand because we can get several products from it. We can eat it raw when ripe; fried plantain, plantain chips, flour, etc. Even the raw materials industry benefits from this crop, as you can make fabrics and sanitary pads from it andNigeria'sdeficientFurthermore, the incredible thing about plantain is that the suckers multiply every year, so you don't need to replant, as the stem is already stuck in the soil, and each plantain stem produces about eight suckers. So, if you have about 1,000 stems, you'll be getting about 8000 suckers. Isn't that great?
Yam Farming Business
Yam farming is a transparent profitable business practiced in Nigeria, and it is practiced almost everywhere in the country. Though people worldwide consume yam, Africa consumes this food the most, making African countries one of the largest producers. There is a high demand for yam in the country because it serves many purposes. You can get boiled yam, fried yam, yam chips, flour, pounded yam, etc., from yam. Furthermore, if your farmland is about 200 by 200 meters, you could get about 20,000 tubers of yams, and a tuber of yam would cost about #400. So, you can't run at a loss as a yam farmer.
Groundnut Farming Business
Groundnut farming is another crop that can't be overlooked among Nigeria's most profitable crop farming businesses. The reason is that groundnut is one of the primary sources of oil we use in cooking our daily meals. Other groundnut products include boiled groundnut, livestock feed, groundnut cake, roasted groundnut, etc. Thus, being in high demand. Also, groundnut has a unique farming style, as you can only cultivate it twice in a season. The most famous places where they grow groundnuts are Kano, Bauchi, Benue, Adamawa, etc.
Beans Farming Business
The demand for beans is high, making beans farming a very lucrative business you can try. This business offers the farmers various opportunities because it is one of the most popular foods consumed by Nigerians. You can get several foods from beans which are beans themselves, moimoi, bean cake, etc. There is so much demand from the market that even the beans farmers can't meet up to, and there's always a space for new beans farmers to fill the space.
Wheat Farming Business
Wheat is one of Nigeria's most famous cash crops, and wheat farming is a lucrative farming business. People practice wheat farming almost everywhere in the world. The market demand for wheat is high because industries use wheat to make cookies, bread, wheat flour, noodles, etc. All these products have made the wheat to be of much importance and value from the past years. Though its market demand is high, its production is still deficient. So, there's always space for a new wheat farmer, and you could be one of them.
Cashew Farming Business
Cashew farming is a profitable crop farm business in Nigeria and other countries. Though it takes time to harvest, you can't run at a loss if you follow the proper procedures. Some farmers grow cashew for nuts, as you can make lots of profits from the cashew nuts. However, the market demand is high because of its various benefits. From the cashew nuts, we can make ice cream, sweets, chocolates, etc. They also use kernel oil in pharmaceutical industries. Further, if you want to start a cashew farming business, you need large land for cultivation. So, why don't you give the cashew farming business a trial?
Mushroom Farming Business
Mushroom is a high-selling crop in Nigeria. The funny thing about this business in Nigeria is that customers are always waiting. The reason is that the market demand is higher than the farmers producing it. Mushroom has many benefits like fighting cancer, diabetes, etc. You can enjoy mushrooms as a salad topping or as meat in the soup. Oyster mushrooms are the most profitable among all the types of mushrooms because they are the most delicious. However, if the process of growing mushrooms is what is holding you back, don't fret because it is so easy to grow.
Vegetable Farming Business
Vegetable farming is one of the most profitable crop farming businesses in Nigeria. The popular vegetables consumed in Nigeria are Soko, ugwu, waterleaf (gure), ewedu, etc. Though these vegetables are planted almost with the same methods, it's rare to see them together on the same farmland. Vegetables have a high market demand because they make various soups, and we can't do without them. However, ugwu is the most profitable vegetable because almost every household and tribe in Nigeria enjoy its taste.
Cucumber Farming Business
Cucumber farming is undoubtedly very profitable. The good thing about the cucumber farming business is that you can start the business with little experience. The market demand for cucumber is also high like other crops because people consume it as a fruit and as part of salad ingredients. However, while planning to start a cucumber farm, you should remember that you can't plant cucumber on land that holds in water for long.
Moringa Farming Business
Moringa is used in a variety of ways, making it very lucrative. The market demand for moringa is incredible because of what we could derive from it. We can produce medicine, oil, soap, perfume, etc., from moringa. Moringa is also rich in antioxidants and helps to reduce cholesterol. Farmers tend to harvest more moringa during the rainy season, and more harvest means more money. There are different types of moringa, including Moringa Peregrina, Moringa Ovalifolia, etc. If you are interested in starting a moringa farm business, don't worry much about the capital because you don't need much investment to start.
Coconut Farming Business
Our list won't be complete if we fail to mention the high profitability of coconut farming in Nigeria. There's so much profit in cultivating the coconut tree because coconut has various health benefits. Some people call the coconut tree the' tree' of life because of these benefits. Some of these benefits are; coconut oil helps in improving the cholesterol level in a human's body; they use coconut meat to produce ice cream, etc. Thus, making it a high market demand. Furthermore, the best soil suitable for the coconut farming business is well-drained soil that can retain water perfectly.
Orange Farming Business
Orange farming is another lucrative business a farmer can try and not run at a loss if done correctly. The market demand for oranges is high as it is used in several ways. Mostly, orange is consumed as a fruit, and it is used for citrus juice and Vitamin B. It is also high in demand because of its health benefits like helping in hair growth, etc. So, as an orange farmer, you can’t run at a loss, as you can earn about a million per year on your orange farm.
Rice Farming Business
The last on our list of the most profitable crop farming businesses in Nigeria is rice. Rice is a typical food and is widely consumed all over the world. Every household in Nigeria consumes rice, making the market demand very high. However, people prefer foreign rice because it is neater. But it doesn't mean that you won't make enough profit; you have to do it right. Make sure your rice is stoneless and more awesome, and you won't run at a loss. If Nigerian farmers step up their games in rice production, there will be higher market demand for Nigerian rice.
There are other profitable crop farming businesses in Nigeria you can venture into as a farmer, but we have listed the top profitable ones. However, as a farmer, you should take your time in making a perfect crop farming business plan. This will enable you to execute the operations on the crop farm successfully. Wish you the very best!