What are the best money-making agriculture business ideas with low capital to try? Nigeria has a population of approximately 150 million people, what this tells us is that there are several opportunities in the country, we only need to find basic problems in the society and provide the solution to it. One sure way to achieve this is by setting up an agriculture business in Nigeria.
Food is a major thing needed by the body and soul daily, without food, no one can survive. So finding the problem in the Food industry, choosing agriculture as a business, and providing a solution to it will be a big hit for a businessman.
Agriculture is one of the most lucrative businesses in the world because it provides the daily need for everyone, which means everyone in the world needs Agricultural produce to survive.
Because of how lucrative Agricultural business is, it has attracted high-ranked businessmen, politicians and many more individuals to doing farming business in Nigeria.
To mention a few names of the big player in Agricultural business; Chief Olusegun Obasanjo (Obasanjo Farms Nigeria Limited), Admiral Murtala Nyako (Sebore Farms), General Abdulsalam Abubakar (Maizube Farms).
Agricultural business is not for the big players only, we have written this article for people that want to venture into Agricultural business with LOW CAPITAL.
Let us take a look at the top 6 most lucrative Agricultural businesses with low capital and how to invest in agriculture in Nigeria.
#1 POULTRY FARMING
This is one of our top 6 most lucrative Agricultural businesses in Africa, specifically Nigeria that you can start with low capital. You can start poultry production in Nigeria with a cage and with no minimum numbers of chickens.
Poultry farming entails the rearing of different species of chickens for eggs or eaten. We have some chickens called LAYERS, these types of chicken are reared basically for laying eggs.
Another type is Broilers which are reared basically for eaten and sold to restaurants, bars, etc.
Although Poultry Farming is already saturated, it still as a shortage in supply, a huge amount of money is been spent on importation of chicken, in 2014, 660 billion Naira was spent on importation of chicken.
So with this figure and the population of the country, Poultry farming will make one a huge profit. These are just some of the advantages of the poultry farming business to mention a few.
#2 FISH FARMING
This is one of my favourite types of farming for agriculture business ideas, it is very lucrative and it as a shortage in supply too. Imagine buying a fingerling (a baby fish) at as low as N3 and selling it as high as N700 after just 4 months, It is amazing, isn’t it.
Fish farming can be done at your backyard with a big bowl to start small and upgrade later to a fish pond, a huge amount is not needed to start this type of farming, but depending on how big you want to go, acres of land can be used for fish farming and huge profit is guaranteed.
The types of fish that are majorly rear in this part of the world are Catfish and Tilapia fish.
#3 SNAIL FARMING
Snail farming is another lucrative agricultural business in Nigeria. Everyone knows snail as one of the meats for the rich class because of the high price it comes with.
Snails are small meats hidden in a thick shell, depending on the size, it goes for about N500 in the market.
READ ALSO: SNAIL FARMING IN NIGERIA (2020)
This is one of the lucrative agricultural business that fewer farmers are involved, it as high demand from the top class restaurant, bars, hotels, and few farmers involved are not able to meet the demand.
Snail farming can be done with little capital, you can also start this farming with a bowl at the back of your house and upgrade it at your own pace.
#4 RABBIT FARMING
Rabbits are beautiful looking animals and the meat is one of the best, this is one of the most lucrative agricultural business, all you need to start is to purchase an adult male and female rabbit and in no time they will multiply to tens in number as they give birth in multiple.
Rabbit Farming as an agriculture-based business is economical as you can get their feeds in the bush, you can start Rabbit Farming with a small cage and later upgrade as they are getting more in numbers.
Rabbit Farming is not that popular but it as huge returns in profit and it as high demand as well.
#5 FLOWER FARMING
Flower farming is one of the agriculture-related business ideas that is very lucrative and you can start with low capital. Flowers are used in beautifying houses and they are mainly used by the high-class individuals.
Flowers require low capital to start with little time attention to it. You can also start this business at the back of your house with sacks of fertilized sand in which certain species of flower is planted.
You can have as many types of different species of different flowers planted and make a huge amount from selling them after some months.
#6 GOAT REARING
Goat meat is one of the sweetest meat around, Goat meat is loved by the high class and the low-class people. Goat Rearing is very lucrative as it cost high to buy it in the market and it has a high demand.
Goat rearing business is easy to start and can be done with little space in a compound. All you need to do is buy male and female goats and in no time you start making a good profit from the business as they give birth and multiply. It is very easy to maintain as they can feed on many things.
#7 DAIRY FARMING
This is simply the act of rearing dairy animals for the sole purpose of producing and marketing dairy products. Dairy products include milk, cheese, yogurt and so on. This field of commercialized agriculture has proven to be an indeed lucrative field.
While cows may be relatively expensive to buy, they are much cheaper to rear. In the event where cows can not be afforded, fear not, for goat can be substituted. Goat milk is equally nutritious and much more expensive as it has a richer taste than cow milk.
The primary objective of a good dairy farmer is the production of safe and quality drinking milk for the public. To achieve this, certain standards must be met in terms of hygiene and equipment integrity.
#8 WEED KILLER PRODUCTION
This is one business idea that is not so often thought of and is sometimes looked down upon. Most times, it is often done as a side business, but in truth, this business idea is a gold mine waiting to be thoroughly explored.
All crop farmers have one problem in common, “weed”. This menace can prove to be detrimental to their business and in most cases, the weed can adapt to certain low grade or fake herbicides, which are mostly sold to these farmers. This where you come in.
As a weed killer producer, you can market your product to these farmers and make a fortune from it. And it is definitely the type of business that could be expanded.
#9 LIVESTOCK RENTALS
Okay, this may seem a bit strange to some people, but hear me out on this. Livestock rentals have been in practice for a while and if given the right environment, it could prove to be quite lucrative.
Livestock renting as the name implies is simply the act of renting out livestock for bush clearing purposes. This business could prove to be a great side business especially to people who rear livestock for one purpose or the other.
They can rent out their herds of cattle, sheep or goats to others for the sole purpose of clearing bushy fields.
In most cases the animals mostly used are goats as they have a faster rate of eating than most livestock. And if you think about it, it’s a win-win situation, as you get to feed your livestock while getting paid for it.
#10 WOOL PRODUCTION
The wool industry has proven to be a large market in past and recent times, as wool is a very important material that is essential to our clothing.
To go into wool production, one would need to focus solely and specifically on sheep and the likes as their furs are used for the production of wool for clothing purposes.
It is an ever-growing market and has proven to be a good business idea in its ability to sustain itself.
The sheep can always re-grow their fur after being sheared, and this can happen over and over, thereby eliminating the need to buy a new sheep. Sheep can always be replaced after they live out their lifespan and die of natural causes.
This takes a while to happen, so one sheep can be sheared multiple times in its lifetime.
#11 FIREWOOD PRODUCTION
By cutting down trees for fuel purposes, you can sell firewood for a reasonable price and profit from it. In various parts of the world, especially in Nigeria, firewood is always in demand.
By selling them, you can earn a decent living. However, if you really want to make a business that can sustain itself, then you would need to have access to a wider landmass with many more trees that you can cut down and enough landmass to plant new trees.
By doing so, not only will your business thrive, but you would be able to easily dominate the firewood business in any area.
#12 TREE SEED SUPPLY
This business is also heavily recognized in the global market. With the world being industrialized on a daily basis and with the excessive usage of land for construction purposes like roads and housing structures accompany buildings, there is a need worldwide, to preserve the forests and wildlife, and tree planting goes a long way in meeting this need.
You can profit from this and preserve your conscience as you would also be contributing to making the world a better place. Basically, all you have to do is to sell tree seeds to people seeking to plant trees whether it is for research, ecological, economic or aesthetic purposes. You stand to profit a lot from this.
There are a variety of trees to choose from, the important thing is knowing your market and selecting trees that you think people would like to have around them.
You can also attach a list of minor services to compliment this business, such as hedge trimming and so on.
#13 FRUIT CANNING and PROCESSING
Fruits are quite easy to farm compared to some other crops. Besides growing and selling fruits, fruits can also be stored in cans and sent to food companies for a reasonable price.
If that isn’t enough, you can take it one step further and even go as far as processing the fruits if you have the available means. You can produce fruit drinks or juice and sell, you can also produce jams and other fruit products.
This would go quite a long way in bringing in the required capital needed to expand your business.
The best part of this is that the raw materials that are needed are fruits, which are all produced by you. This saves costs and allows for rapid expansion.
#14 URBAN AGRICULTURE
This refers to the planting and raising of plants and animals respectively for agricultural and commercial purposes. Urban agriculture is a rapidly expanding area of the agricultural sector and has even become the backbone of the sector.
You do not need to be in the rural communities and setting to have a thriving agricultural business, you can also achieve this from your home. In order to do this, you must have a working understanding of the agricultural dynamics along with the public need or the need of your immediate environment.
Some common urban agricultural practices are poultry farming, catfish farming, fruits, and vegetable farming. Owing to the lack of adequate landmass in the urban areas, these businesses are usually done on a smaller scale compared to their rural counterparts.
However, the profits to be gotten from this also has the potential to be quite spectacular. Thanks to urban agriculture, you as a producer can directly interact with the market population and cut the costs of middlemen, thereby making lots of profits from this.
The advantage lies in not having to transport your produce over a long distance unlike the rural agriculturalists do. This boosts the gains to a larger extent.
Another advantage lies in easier access to agricultural technologies and more specialists.
#15 HONEY PRODUCTION
Without a doubt, honey production is one of the most lucrative jobs anyone can do in the agricultural industry. Honey is rated to be a far healthier sweetener than sugar or other sugar compounds.
Gotten from bees and beehive, honey is quite dangerous to harvest but the rewards far outweigh the risks. With the help of a trained professional, you can harvest honey.
The great thing about honey is that even in its raw and unprocessed form, it can still be consumed and is even deemed healthier than when it had been processed.
You can make a fortune by selling honey to various honey processing companies as well as food companies.
Honey has medicinal elements that are extremely beneficial to our health. As a result of this, they are in high demand by herbal practitioners and pharmaceutical companies.
It also has cosmetic benefits and is used for skin treatment and healing of wounds. It is a product that is vital and intricate to our daily livelihoods and we can stand to profit greatly from this product.
With a low income, all you have to do is pay a bee specialist to help you in harvesting the honey and you are good to go. It also helps if you are a trained bee specialist and are capable of extracting honey, that way, you spend little to nothing in starting up the business.
Finally, one of the greatest advantages that come with honey production is it’s preservative and storage abilities. It is almost impossible for honey to spoil or get worse, as long as it is stored in a cool dry place.
That way, you don’t need to worry as a farmer and how to store the honey since it can last for years without spoiling. Whenever the time for the trade comes, all you would have to do is retrieve the honey from where it’s been stored and sell it.
With these points, it is more than clear that the agricultural sector is something that anyone can stand to gain from. We hope that you can select one or two business ideas and make a fortune out of it.
What Is The Most Lucrative Agricultural Business In Nigeria?
Poultry farming, fish farming, grasscutter farming, honey production, and so on. We would have loved to tell you one but the truth is all agricultural businesses in Nigeria are lucrative, it just depends on whoever is running the business and the plans you have. However, there are some agricultural businesses that are more high risk than others such as fish farming and poultry farming.
Which other lucrative money making agriculture business ideas with low capital do you know? Leave your comments below.