Nigeria is one of the most developed countries in Africa. In fact, she has progressed tremendously in the service industry of late. She has also improved immensely in the information and communication (ICT) industry.
According to World Bank reports, over 50% of the total GDP of Nigeria lies within the service industry.Agribusiness used to be a major influencing factor in Nigeria’s economic growth. Agribusiness ideas used to receive a lot of funding from financial institutions. But the scenarios have changed immensely. Presently, the GDP contribution from agriculture weighs only around 23%. Quite poor, isn’t it? However, the condition has improved slightly in the second half of 2015. The country has tremendous potential in agriculture if you have the right agribusiness ideas to invest in.
Invest in agriculture – Time is ripe
With the government offering helping hands in the form of low-interest loans to those who are planning to invest in agriculture and farming, the agribusiness sector is slowly but steadily improving. The government’s entire initiative is primarily to improve the overall agriculture business within the country’s boundaries. It will also lower the unemployment rate and decrease the inflation rate.
Improving the overall GDP
Success in agriculture to a very large extent depends on implementing the right agribusiness ideas. The right agribusiness ideas can do wonders to your pocket. Don’t you want to do something bigger and grander for yourself than you did in 2015? Apart from benefiting yourself, the land will not only be benefited, but also it will help in improving the overall GDP. You will also be enjoying healthy profit margins in your venture. The scope of operations and opportunities are tremendous and numerous in this field. Many lands are being wasted and left vacant. You can easily purchase or lease these lands from the government or owners for agriculture purpose and implementing several agribusiness ideas.
Agribusiness Ideas– Choices to look at
Now the important question: When it comes to agribusiness ideas, what are the best investment choices available? After careful consideration and analysis of all the agribusiness ideas available in the country, the following are the best, practical ones that you should consider investing in:
1. Invest in Cassava. Cassava is the most important and regular staple food for Africans. The market for starch in Nigeria and other neighboring countries in Africa is huge. But the lack of quality cassava processing facilities within the country is a huge business opportunity that you can take advantage of.
2. Soya bean and soya-related products are also in high demand in Nigeria. Soya-based foods, edible oil, and animal feeds can be your source of agribusiness venture. It’s in high demand and promises greater ROI. This is a one of the very good agribusiness ideas that isn’t being exploited
3. You can also invest in sorghum, which has become a very important industrial and household crop. This is a one of the very good agribusiness ideas that isn’t being exploited
4. If you have access to high capital, then opening a fruit juice concentrate facility in Nigeria can also be a very interesting agribusiness option. As per surveys, nearly 90% of the fruit juice concentrates are imported from foreign countries to manufacture fruit juices in Nigeria. Can you imagine the profit margin you will enjoy if you have your fruit juice concentrate facility within the country? Just imagine the tremendous demand you’ll have to meet!
5. Food processing and storage is also one of the good agribusiness ideas. Most of the food produced in Nigeria end up as waste because of lack of storage facilities. This is a one of the very good agribusiness ideas that isn’t being exploited
6. Fresh flowers are also another good agribusiness idea. As we all know, fresh flowers are used for many event decoration purposes and also for home decoration purposes. You can easily make money by growing flowers.
7. Vegetables are the most common and highly consumed food item across the world. So, starting a vegetable farm is one of the simplest businesses in the entire world which gives a good profit margin. This is a one of the very good agribusiness ideas that isn’t being exploited
8. You can also make money from Mushroom farming. All that you are supposed to do is just clean up your space and start your own farming of mushroom today. You can even start exporting it.
9. Another good agribusiness idea for young entrepreneurs is to start a hatchery for the purpose of selling day-old chicks to poultry farmers. This is a one of the very good agribusiness ideas that isn’t being exploited
10. Quail egg farming is also another good agribusiness idea. It involves growing quail for profitable egg and meat production. Quail farming plays a vital role in meeting the daily nutritional requirement and it is a good source of earning money. This is one of the very good agribusiness ideas that isn’t being exploited
11. Dairy farming is considered to be one of the most profitable agribusiness ideas. In addition to milk and yoghurt production, a huge quantity of manure is also produced from dairy farming. This is a one of the very good agribusiness ideas that isn’t being exploited
12. Growing medicinal herbs is also another profitable agriculture business. In order to accomplish the task, you need to have sufficient knowledge about medicinal herbs and the different illnesses they cure. It is advisable to pick herbs like aloe, onions and garlic which can be used to treat a lot of illnesses and diseases.
13. Cactus farming. Cactus is considered to be the most important plant decor item. Selling cactus is a very profitable business. This business can be easily started from your home with minimum investment. This is a one of the very good agribusiness ideas that isn’t being exploited
14. Commercial corn farming. Corn has diverse uses from animal feeds to human consumption to industrial uses like in the production of corn starch.
15. Snail farming. Snail meat can be used as a healthy alternative to red meat. Those people suffering from health issues or those who are on a diet can opt for snail meat. This is a one of the very good agribusiness ideas that isn’t being exploited
16. Spices are used in almost all the dishes in order to make the dish much tastier. Spices are in high demand in the market. By growing spices like thyme, nutmeg, etc. you can make a lot of money supplying them to consumers and traders. You can also decide to go into the processing and packaging of your own species so that you can earn more money from the spices.
17. Aqua farming is also another good agribusiness idea. There are several options available to you such as tilapia farming, crayfish farming etc. This is a one of the very good agribusiness ideas that isn’t being exploited
18. Meat packaging. It’s a common issue with a number of people that poultry meats are not packed hygienically. Now, smart entrepreneurs are making good money through packing poultry meat and other types of meat. This is a one of the very good agribusiness ideas that isn’t being exploited
19. Pig farming. Piggery is another major source of meat production. Pig meat and by-products are consumed by non-Muslims especially in Asia. Pig fat, which is called Lard, is used as an anti-foaming agent in industrial processes.
20. Shrimp farming is basically an aquaculture business done in a freshwater environment. The need for this item is increasing rapidly. You can sell your harvested shrimps to restaurants and supermarkets. This is a one of the very good agribusiness ideas that isn’t being exploited
21. Processed cashew is widely consumed by individuals. It has a great market value in the FMCG industry. Cashew is also in high demand in the international markets where it is used as a raw material in developing drugs, antioxidants, fungicides, etc.
22. Groundnut processing business can be started with minimal investment. The processed ground nuts have greater value in the market and it is used in animal feeds and the production of soaps, biodiesel, insecticides etc.
23. You can also start a Flour milling business. With a good supply of cassava and wheat, you can process them into flour which is used in making bread, biscuit and other food items that people consume a lot.
24. Fruits like strawberry, orange, grapes etc. can also be processed and turned into items like jam and jelly. This process is not so complex and it can be started on a small scale with little capital.
25. Botanical pesticide is another profitable agribusiness idea. Botanical insecticides are naturally occurring chemicals (toxins) extracted or derived from plants or minerals. It is a very necessary item used in organic farming. The need for this type of product is increasing at a rapid pace due to declining use of chemical pesticide because of their adverse side effects.
26. For the non-vegetarians, frozen chicken is the most delicious items. The demand for frozen chicken is rising globally. An entrepreneur living in the city can start this business with proper training and planning. If you would like to receive training on poultry farming, visit our online agribusiness training school here.
27. With the increase in health awareness and the harmful effects of white sugar, the need for pure honey is increasing globally. In fact, it is a profitable venture to start with little investment.
28. You can also become an agricultural produce broker where you link producers of agricultural items with people willing to buy those produce.
29. You can start an agribusiness that is involved in sunflower farming. Sunflower is a highly aesthetic and decorative plant which can be used to beautify homes and offices.
30. Fruit drying. The process of solar drying of fruits helps in preserving the nutritional value of the fruits. It is also used to make seasonal fruits available all year round.
31. Fish farming. Commercial farming of fish is also another profitable agribusiness. Large quantities of Fishes are consumed every year in Nigeria and most of these fishes are imported. With the federal government ban on importation of fishes, local fish farmers stand to make a lot of money. If you want to receive training on how to setup a catfish farming business, visit our agribusiness online training school here.
32. Micronutrient is very essential to our diet. Micronutrients are dietary components, often referred to as vitamins and minerals, which although only required by the body in small amounts, are vital to development, disease prevention, and wellbeing. These nutrients can’t be produced by the body but they can only be gotten from food sources. This business involves the process of adding these essential vitamins and minerals to food sources, for example the process of adding Vitamin A to flour or the addition of iodine to salts. Anyone interested in this field can start the business with minimal capital investment.
33. Livestock feed production is a small scale manufacturing business. By having access to feed ingredients and raw materials, you can begin processing feeds used in rearing livestock.
34. Chick selling. You don’t have to rear large, table size poultry birds. You can earn money from rearing and selling chicks that are at point-of-cage or point-of-lay to the local poultry farmers. In fact, it is a highly profitable business but it requires specialized knowledge.
35. Tea business is also another good agribusiness idea. Grow tea leaves and plants in a region where there is heavy rainfall and at a height of 1.3 miles above the sea level.
36. In today’s world with the wide acceptance of e-commerce and online shopping, an online grocery shopping portal is a good agribusiness idea. It is a technology-based business which needs proper planning.
37. A landscape expert is a professional having knowledge regarding landscape architecture which includes land planning, storm water management, construction specification and other such things.
38. Goat is the major meat producing animal in Nigeria. Goat farming can be started with little capital and minimum land space.
39. Jatropha farming is mainly done for bio-diesel and it is one of the trending agribusiness ideas. The cultivators can easily cultivate Jatropha as a source of raw material for producing bio-diesel.
40. Potato processing. The potato powder is widely used in the processed food industries where it is used it as a thickener, baking ingredient, binder, breading and an extender. Potato powder business is a small scale manufacturing business.
41. Horticulture. The horticulturists help to produce flowers, fruits and plants in greenhouses as well as in nurseries.
42. Fodder is any agricultural foodstuff, used to feed livestock’s like chicken, pigs, goats and horses. There are several types of fodder, for example seaweed, bone meal, molasses, green maize etc. Fodder can be cultivated to feed livestock.
43. With the rise in digital technology, farmers in remote places can now easily get access to the internet in order to receive farming advice and knowledge. You can start a blog or website that is a centre for agribusiness related information.
44. Starting a greenhouse for exporting flowers is considered to be a very profitable business. An entrepreneur having connections and knowledge about the flower exporting market can easily start this venture with minimal capital investment. For information on the international flower industry, visit Floral Daily
45. Seed certification. This is a process of quality assurance wherein the seeds to be used for planting are subjected to testing and inspection. This is also a good agribusiness idea that you can implement.
46. Soil testing is very essential to monitoring the nutrients in the soil and ensuring no sort of damage to the surrounding environment. The process of starting a soil testing lab with government approval is an ideal and very suitable agribusiness idea
47. Custard Production. The process of custard manufacturing in Nigeria is very easy and it is quite easy to produce as well. It is quite easy to market in the cities where the people are very busy and don’t have time to prepare elaborate meals.
48. A number of people move into city, but still love to have local foods and drinks at their disposal, if it is in a good packaged condition. You can easily meet this craving by opening a restaurant that serves local delicacies.
49. Basket and broom production. Baskets are mainly used for packing agricultural products like pepper, oranges, onion and bitter kola. As the baskets are available in various shapes and sizes, it helps the farmers package their farm produce. Brooms are used for sweeping and as decoration pieces.
50. Rabbits rearing. Rabbits can be easily kept as pets at home. No law prohibits it. Moreover, it doesn’t require much maintenance and investment. It just needs a little space either in your backyard or in an abandoned area.
51. Grass cutter is the second largest rodent in Nigeria. Grass cutters reproduce twice in a year. Grass cutter farming is a good agribusiness idea to implement. If you have access to fresh grasslands, you can start rearing them because they love fresh grasses with higher moisture content.
52. The flavor of coconut is entirely unique when compared to any drinks. You can easily earn money by selling coconut juice in stores, restaurants and supermarkets.
53. A major issue which every crop farmer in Nigeria faces is how to get rid of unnecessary weeds. Though the process of weed removing takes about 70% of the farming cost, it also aids the plants to grow in an environmental-friendly manner. You can start an agribusiness that helps farmers remove the weeds on their farms.
54. Selling of plantain either in roasted or toasted form is a huge money spinner. After removing the skin of the fruit, it is fried in oil in order to produce chips. In fact, it is one of the best ways to make money as the majority of Nigerians love to eat plantain chips, especially when they are stuck in traffic.
55. Now-a-days, more and more people are moving towards agricultural business. You can easily make money by buying and leasing agricultural tools and equipment to farmers.
56. Urban agriculture. The process of urban agricultural involves cultivating, processing as well as the distribution of food items in and around the Nigeria city.
57. Now-a-days, a high percentage of people have started moving towards eating fresh fruits for health purposes. So, you can start supplying and selling fresh fruits in Nigeria.
58. Worm farming is one of the best ways of turning fruits and vegetable waste into manure. You can rear worms for decomposing agriculture waste and turning them into soil manure. In fact, most people are not aware of this business.
59. Farming or breeding guinea pig is another very profitable agribusiness. Rearing of guinea pigs isn’t as complex as rearing pigs. You can do this to earn yourself some money. This is a one of the very good agribusiness ideas that isn’t being exploited
60. Salt water fish farming. Fish farming is mainly divided into two major categories: salt water farming and fresh water farming. Some of the most delicious species of fish like tuna, mackerel, snapper, swordfish etc. are raised in saltwater. You can choose to rear these types of fishes in their natural habitat or artificially with saline tanks. The demand for fish in Nigeria can never be met. Thus, it makes fish farming as one of the most profitable venture.
61. Another interesting agribusiness idea is pet birds farming. Here you will be breeding birds such as parrots, dove, canary etc. either for pet purposes or domestic purposes.
62. Sheep farming. The sheep breeding business is lucrative because sheep meat is a very exclusive type of meat served only in high class restaurants. You can start a sheep farm to supply restaurants. Also, sheep skin can also be used to make very expensive leather goods.
63. Cattle farming. This is ideal for you if you have vacant land as well as resources to work it out. As long as people continue to eat meat and leather products are in demand, cattle rearing business remains a very profitable business.
64. Oil palm plantation involves cultivating of oil palm trees. During the harvesting process, the palm fruits can be sold to producers who would produce palm oil in return. This is a very profitable business suitable for the long-term.
65. We have a huge number of apricots trees in Nigeria. Apricots have several medicinal and non-medicinal uses. They can be dried and made into juice. They are also used in alternate therapy in the treatment of cancers, ulcers, tumours, swellings etc.
66. Agricultural loans can be given to farmers at decent interest. Banks and financial institutions don’t like giving loans to small scale farmers. You can step into this gap if you have lots of cash.
67. Sugar cane farming. Sugar cane should be planted either on grass or on the dirt area adjacent to water. Its harvesting when it is completely grown brings profit. Sugar cane is used to produce sugar, ethanol (a clean, affordable, and renewable transportation fuel), bioelectricity, bioplastics etc.
68. Butter and margarine can be made from plant and animal fats.
69. The process of dye production from leaves as well as plants. This is a one of the very good agribusiness ideas that isn’t being exploited
70. Constructing poultry house and other such farming structures for use by farmers to rear their livestock.
71. The process of producing oil from vegetables and groundnuts. This is a one of the very good agribusiness ideas that isn’t being exploited
72. Soya seeds are grown to a great extent in Nigeria. You can earn money by processing and converting soya into drinks like soya milk.
73. Wheat grass farming can be done in order to feed live stocks. This is a one of the very good agribusiness ideas that isn’t being exploited
74. Seedling production. You can start a farm nursery dedicated to producing high quality seeds which you can sell to crop farmers. Sunflower seeds, soya bean seeds, sesame seeds etc. are currently in high demand.
75. It is common knowledge that Ginseng is a plant rich in medicinal properties. Ginseng can be farmed and sold to traditional or herbal doctors who use it for treating diverse health issues.
76. You can easily cultivate pumpkin, cucumbers and other veggies, which can be processed and sold as health juices which health conscious people can drink at the start of every day.
77. Avocado farming. Avocado is considered to be a major source of income for fruit farmers. It is very rich in medicinal properties. This is a one of the very good agribusiness ideas that isn’t being exploited
78. Poultry feed mill is one of the most important agribusiness which you can make great profit from, particularly if your business is situated in the region where there are an appreciable number of poultry farms.
79. Rice is a major staple food of a number of countries, including Nigeria. So, rice can be grown and cultivated for the sake of profit.
80. Charcoal business. Charcoal is used for various purposes in and outside Nigeria. You can supply charcoal to factories and plants which use it as a source of carbon in chemical reactions. It can also be exported to the Middle East where they use it for barbeque and smoking shisha.
81. Palm oil production. The palm seed oil extraction is a very simple technique and doesn’t have much hassle. It also can be considered as one of the most viable agribusiness venture. This is a one of the very good agribusiness ideas that isn’t being exploited
82. There is a rising demand for agricultural consulting services. People having knowledge and experience in the field can start providing consulting services to farmers and institutions seeking to invest in agriculture.
83. Fruits exportation. You can start a business of collecting all the fruits and vegetables produced by the local farmers in your vicinity and move them to the cities of the world for sales.
84. Sunflower farming business is also a vital source of income opportunity. Sunflowers are one of the most aesthetic flowers in the world and they are used for decoration and for marking special anniversaries and landmark events. This is a one of the very good agribusiness ideas that isn’t being exploited
85. If you have a passion for growing crops but you don’t want to leave the city, then you should consider Hydroponic farming. Hydroponics is a technology for growing plants in nutrient solutions (water containing fertilizers) with or without the use of an artificial medium (sand, gravel, vermiculite, rockwool, perlite, peatmoss. coir, or sawdust) to provide mechanical support. Hydroponics makes it possible to grow vegetables in the cities and urban areas of the world.
86. Dried flower business has become one of the most profitable ventures across the world as there is strong demand for almost all types of flowers particularly those which are quite hard to grow. This is another one of the very good agribusiness ideas that isn’t being exploited
87. Fertilizer distribution process is mostly controlled by the government. In fact, it is one of the most profitable agribusiness ideas which can be done with minimum investment. You can help deliver fertilizers to farmers in remote locations.
88. Organic farming has the potentiality to become a very profitable business for you because of its rising demand. People are getting more cautious of the foods they eat and the chemicals present in these foods. Organic farming is a type of farming that doesn’t use chemical-based fertilizers or pesticides.
89. Among the various agribusiness ideas in Nigeria, vermin compost organic fertilizer has become one of the most important agribusiness with low investment. This is another one of the very good agribusiness ideas that isn’t being exploited
90. On the other hand, palm oil storage can be a source of income for you. This is a one of the very good agribusiness ideas that isn’t being exploited
91. It is well known that olive oil is grown all across the country. Olive oil extraction is a profitable business venture. Olive oil is used for cooking but in Nigeria, it is especially used for religious purposes. This is a one of the very good agribusiness ideas that isn’t being exploited
92. Bamboo stick production business can bring you great profit with little effort and within a short span of time. Bamboo plants take a short time to grow. This is a one of the very good agribusiness ideas that isn’t being exploited
93. Vineyard business. You can start making local red wines and fruit wines from your own vineyard farm or garden consisting of assorted fruits like grapes, berries and guava. This is another one of the very good agribusiness ideas that isn’t being exploited
94. Worm farming is another agribusiness that is suitable for enriching farm soil and also to supply animal protein for fishes reared in ponds. This is a one of the very good agribusiness ideas that isn’t being exploited
95. If you love mechanical stuff, you can start a business to repair and maintain farm machinery. It will earn you great profits. This is a one of the very good agribusiness ideas that isn’t being exploited
96. Distribution of processed livestock feeds to farmers is another good agribusiness idea you should consider. You can become a distributor to the major animal feed producers like Topfeed, Animal Care, Durante etc.
97. Providing vehicles to transport farm produce from the farms to the cities is also another good agribusiness idea that you should consider. This is another one of the very good agribusiness ideas that isn’t being exploited
98. If you have sound actuarial science knowledge, you can use this to provide insurance services to farmers and farming businesses. This is a one of the very good agribusiness ideas that isn’t being exploited
99. Providing legal services to farmers who export their produce. Most of these farmers don’t have the legal know-how to draft contracts, prepare agreements etc. This is a one of the very good agribusiness ideas that isn’t being exploited
100. If you are artistic, you can use dried flowers for to produce artworks and crafts for hotels, private individuals and public buildings. This is a one of the very good agribusiness ideas that isn’t being exploited
