Agriculture remains the second most important source of income for Nigeria despite the superordinate focus on crude oil production. According to a Statista 2019 report, Agriculture contributes 21.91% to Nigeria’s GDP. With over 70 million hectares of land available for farming, Nigeria is a major producer of diverse agro produce, including cocoa, rubber, sesame, ginger, beans, tomatoes, yam, palm oil and so many other crops with strong market value on the international market.
More so, the opportunities spread across fishing, crop production, forestry and livestock and the sub-Saharan country and Africa in extension, is replete with lucrative Agricultural business ideas for new and practising agropreneurs to delve into.
No doubt, Agriculture in Nigeria, Africa and many other places around the world is grossly underexplored. The agricultural sector in Nigeria is looking for more farmers, investors, and resources. Thus, there are still a lot of opportunities for individuals considering venturing into the Agric sector.
If you want to start an agro-business but don’t know what to venture into, here are 50+ lucrative agricultural business ideas you can start in Nigeria, Africa and many other places around the world
1). Vegetable Farming:
It is easy to overlook the prospects in the vegetable farming business because vegetables are largely seen as just another domestic commodity. But producing and selling vegetables is a steady and potentially high-income venture in Nigeria, Africa and many other places around the world depending on the scale you operate in.
Thanks to their high nutritional value, vegetables are essential ingredients for making soups and other delicacies like fried rice. You could also produce cucumber, cabbage, carrots, fruited pumpkin and okra, among many others, depending on which ones can grow properly in your locality.
If you can secure fertile farmland and get the basic resources, including labour and a trusted distribution system, you can start a vegetable farming business in Nigeria, Africa and many other places around the world.
2). Horticulture Business:
Horticulture is the broad term used to describe the practice of growing garden crops, fruits, vegetables and flowers. Irrespective of the scale, starting a horticulture business in Nigeria is a good route to success in the Agricultural sector.
You could diversify into vegetables for production, flowers for decoration or growing nursery crops. Similarly, you could consult for individuals interested in learning the ropes involved in growing their own garden successfully.
3). Dairy Farming:
Nigeria and Africa at large is blessed with an abundance of great cattle and goat breeds for the production of dairy products. The Sokoto Gudali and Bunaji are typical Nigerian breeds mostly used in the dairy production business. Besides getting healthy breeds of cattle, you have to also set up a good animal farm with a suitable structure for housing and extracting milk.
To get started, you need to invest in equipment such as a pressure washer, a power generator, a milking machine, a mud pump, reapers, water pipes and so on.
Milk production companies and local milk sellers are your primary targets. You could also sell dairy products such as butter and cheese directly to end consumers and make lots of profits from it in Nigeria, Africa and many other places around the world.
4). Snail Farming:
Snail farming is a money-making agricultural business anyone can start in Nigeria, Africa and many other places around the world. It is one of the simplest low-cost businesses that entrepreneurs can venture into. Snail farming requires few startup resources.
Once you have the right species of snails in place, a snail house and feeds, you’re good to go. It is an agricultural business you can start right from the comfort of your home, without having to disrupt your regular daily activities.
5). Poultry Farming:
The Nigerian poultry farming sector produced over 450 billion tonnes of poultry meat and 3.8 million eggs as of 2018. Yet, despite such an annual production rate, the industry struggles to effectively cater to the great market demand.
Poultry farming seems like a highly saturated business but the sector still has room for more entrepreneurs in Nigeria, Africa and many other places around the world. With the right production and marketing strategy and a strong distribution channel in place, you can build a successful poultry farming business.
6). Pesticide And Insecticide Production Business:
Pesticides and insecticides are essential materials needed in the agricultural sector. Since farmers have to control pest and insect attacks, they make up a prime market for the pesticide and insecticide production business in Nigeria, Africa and many other places around the world.
Manufacturing pesticides requires detailed knowledge of the right chemical compositions and the distillation process. Hence, to start this money-making agricultural business, you need adequate professional training in chemical handling and use. On the other hand, you could employ the services of trained experts.
7). Jam Production:
Jam is one of the most widely consumed foods in Nigeria, Africa and many other places around the world. It is made from fruits and can be eaten with bread, cake, cheese, pancake toppings, and much more. Jam has a high nutritional value and a lot of health benefits. It reduces serious health risks such as stroke and cardiovascular diseases.
Jam production in Nigeria is still relatively underexplored, and this leaves a lot of room for investors and new entrepreneurs. There is an existing market both locally and internationally, so producers of jam get to enjoy a steady market demand.
8). Meat Processing And Delivery Business:
Money-making agricultural businesses are not limited to farming businesses. Meat dealers in Nigeria smile to the bank regularly because they enjoy a constant demand across the country. As of 2019, Nigeria alone consumed over 360,000 tonnes of beef per annum, and that’s about half the entire volume consumed in West Africa.
There are strong indications that the figures will quadruple within the next two to five decades, and this implies that the meat processing business is bound to increase in value over time in Nigeria, Africa and many other places around the world.
9). Honey Production:
Honey has multiple uses across diverse industries in Nigeria, Africa and many other places around the world, ranging from food production to skincare. This makes it a highly demanded product both in Nigeria and other parts of Africa. Honey is preferred to sugar as a sweetener, for its various multi-health benefits, but still, the local honey production industry in Nigeria struggles to meet up the annual demands each year.
Despite the production of over 16,000 tonnes of honey, Nigeria still imports honey worth about $8 million from China annually. There is a great opportunity in honey production in Nigeria for interested entrepreneurs willing to fill the supply chain gap. The best part is that it requires little startup capital.
10). Orange Farming:
Although oranges are widely grown only in certain states in Nigeria (Kogi, Kaduna, Benue, Ebonyi, Ogun, Osun, Kwara, Delta states, and so on), anyone in other parts of the country can still venture into the orange farming business.
With business opportunities in the fruit production industry, domestic consumption and skincare industry, orange is one of the agricultural products with high profitability both at local and international levels. Oranges can be planted in living areas, but to start a large-scale orange farming business, you need a large piece of farmland with good soil for planting.
11). Guava Farming:
Also known as tropical apples, guava can be grown almost anywhere in Nigeria. The success of the guava farming business lies not just in the health benefits and high demand but also because it is a seasonal fruit.
The ley with starting a guava business is that the guava fruit has various types and species. Hence, you need to identify which specie grows best in your locale, given the climate conditions. Select the most suitable site, prepare the land and plant. Guava farming requires a couple of extra hands especially if you have a large plantation.
12). Farming Equipment Rental Business:
For most local farmers and agropreneurs, mechanized farming equipment is a luxury. Hence, they prefer to rent equipment mostly for occasional use from rental companies. Common farm machinery rented includes tractors, planters, forage harvesters, and harrows, among others.
Starting a farm equipment rental business can be capital-intensive but it can generate a lot of profits over time. With the right maintenance culture and good strategic placement, you can reach a lot of farmers who will regularly rent your farm tools.
13). Egg Hatchery Business:
Egg hatchery is a growing money-making agricultural business related to poultry farming in Nigeria, Africa and many other places around the world. If you’re considering starting a poultry farm, you can also get to make a lot of profits through egg hatchery. On the other hand, you can focus on egg hatchery alone using artificial methods.
For starters, it is important to get the best species of chickens (layers) for this business. You also need to erect a safe and suitable structure for hatchery. Other resources required are water, electricity and labour.
14). Mushroom Farming:
Talk of one of the most underrated money-making agricultural businesses in Nigeria; is mushroom farming. Mushroom farming is a low-capital business with minimal risk and high patronage. People who understand the health benefits of mushrooms prefer them to red meat. Similarly, doctors recommend mushrooms because they are rich in vitamins such as niacin which aids digestion, and riboflavin and pantothenic acid which protect the heart.
Besides the great patronage that mushroom enjoys, it is easy to cultivate. With the right specie and just a little moisture, mushroom yields massive produce within weeks. They are a large source of income especially during the dry season when they are not readily available.
15). Livestock Farming:
For decades, people have practised livestock farming locally and in their respective homes. However, the massive demand for meat and meat products makes it difficult for existing nomadic and domestic livestock farming to cater to the market. And this leaves room for new investors to delve into advanced livestock farming.
Determine which livestock has a high market demand in your area and focus on getting the right species of the animals in question. Livestock farming comes with its demands, but it is one of the most valuable money-making agricultural business ideas in Nigeria, Africa and many other places around the world.
16). Fish Farming:
With an annual average of 13.3kg of fish consumed per person in Nigeria, existing fish farmers find it difficult to keep up with the daily demand across the country. Fish farming is a promising business with high marketability. And there is very little worry about finding customers.
All you have to do is, set up your fish farm in a good location. Any busy space will do to make it easy for customers to reach you and to avoid excessive distribution costs. It is also important to start by doing a feasibility study of your chosen area just to be sure what specific types of fish are commonly consumed in the locality.
17). Cocoa Farming:
Cocoa farming is another viable money-making agricultural business idea for individuals with enough resources for farming. It has always been a great money-making business in Nigeria. At the moment, Nigeria is the fourth-largest producer of cocoa in the world, after Indonesia, Ivory Coast and Ghana.
Cocoa is best grown in the Southwestern and Niger Delta region of the country because the trees perform better in regions with distributed rainfall and a considerably high temperature. The primary challenge with the cocoa business is getting the right dealers to sell your products to. With trusted buyers or exporters in place, you could earn millions from cocoa farming within five years.
18). Maize Farming:
Maize farmers across the country enjoy great patronage because maize is used in the production of several commodities in the food and health industries, ranging from flour to corn syrup.
Because maize is a seasonal crop, it requires a suitable preservation method and proper storage facilities. With the right market facilities in place, maize farming is a highly lucrative business for anyone to venture into.
19). Cassava Farming:
Cassava is the third-largest source of carbohydrate after maize and rice. It is used to make most tropical foods, including garri (cassava flakes), tapioca, cassava flour, cassava chips and the local akpu or fufu meal.
Almost every Nigerian household consumes one cassava product or another on a daily basis. The market for cassava products is teeming, but there is a gap between production and demand. And this is largely because cassava is grown only in the tropics and the farming process could be tedious. This leaves room for new cassava farmers in Nigeria, Africa and many other places around the world.
20). Tea Farming:
Local tea farming in Nigeria meets only about 10% of the demand. As a result, the country relies heavily on imported tea products. This gap exists because tea can be grown only in very few areas in the country. Hence, starting a tea farming business can be a great strategy to capitalize on the existing gap and build a successful business.
Tea farming requires a lot of manpower, especially if you have a large tea farm, but it is worth the effort in the long run. You could also export to the international market.
21). Animal Feed Production:
Animal feed production could be a great source of income for entrepreneurs in Nigeria, Africa and many other places around the world. Ranging from fish feed to poultry feed, animal feed is a basic requirement for livestock farmers. Hence, the animal feed production business has a ready market. You only need to produce quality feed and channel your products to the right market.
To start this money-making agricultural business, you need to identify which set of animal feed to focus your resources on. This is because different animal feed requires various components. You can also produce different animal feed with related components.
22). Cucumber Farming:
Growing cucumber involves fewer resources in comparison with other vegetables. Get healthy seeds and plant on tilled soil with the right compost manure composition or fertilizers.
The best part about planting cucumbers is that they require low maintenance. Plus, they produce massive yields and can be grown almost all year round. Thanks to its multiple health benefits, cucumber is always in high demand in Nigeria, Africa and many other places around the world.
23). Rice Farming:
Although 90% of rice consumed all across the world is produced in China, certain states in Nigeria also produce rice. Such states include Kano, Gombe, Niger, Kebbi, Lagos and Ebonyi states, among others.
Despite the challenges facing the sector, rice production is a viable money-making agricultural business idea for any interested agropreneur to delve into in Nigeria. With the right capital, you can set up your rice plantation in any of the rice-producing states and distribute nationwide for good profits.
24). Yam Flour Production:
Yam flour is a by-product of yam. It is made by grinding dried yams into powder, which may be used in the production of gluten-free bread and the Nigerian local meal called ‘amala’. Yam flour is considered sweet but not as sweet as potato flour.
Notwithstanding, it is a major food substance, especially in the Southwestern region of the country. Starting a yam flour production business in Nigeria is a highly lucrative business. However, it requires the right skills and knowledge of the process involved to get quality yam flour output.
25). Pig Farming Business:
Not many entrepreneurs in the agro-industry in Nigeria, Africa and many other places around the world give pig rearing a second thought, but it is a great source of income for pig farmers. The success secret in pig rearing lies in the fact that pigs are highly fecund animals and can produce as much as 10 litres per pregnancy. That’s a lot of profit if you have a lot of them.
However, pig rearing requires high maintenance. Pigs have difficulty staying in hot areas, so you have to provide water to keep the housing structure cool always. You also have to watch and keep the piggery clean at all times.
26). Agro-Export Business:
Starting an agro-export business is a high-capital business, but it can have high profitability in Nigeria, Africa and many other places around the world. It is a business that relies on networking as much as financial resources.
However, the export business is a highly lucrative business despite the efforts and resources required. Major agricultural export products in Nigeria include cashew nuts, cocoa, ginger, sesame seeds, plantain, melon and so on. Identify your area of focus and pool your resources using the right strategies. In a couple of years, you’d have a large export company on your hands.
27). Foodstuff Distribution Business:
Distributing food resources among states in Nigeria, Africa and many other places around the world is a smart move for entrepreneurs. Many successful entrepreneurs today are not the actual producers of goods or services they deal in but are simply those who link buyers with sellers. Farmers experience difficulties connecting with the right buyers while buyers on the other hand need a stress-free connection with the actual producers of the goods they want. This is where you come in as an agro distributor.
By networking with buyers and sellers, you bridge the marketing gap between both parties and get rewarded through commission systems or any other payment systems, depending on your contractual terms with the producers. On the other hand, you can also start distributing food stuffs to grocery stores, malls, hotels, restaurants, homes, manufacturing firms and many other industries in Nigeria, Africa and many other places around the world
28). Palm Oil Production Business:
As of 2020, Nigeria was the 5th largest producer of palm oil and its by products all over the world. The West African country remains a big name as far as the production and export of palm oil are concerned. The oil palm trees are predominantly found in the southern region, including Cross River, Rivers, Delta, Bayelsa and Imo states, as well as a few others.
This makes the palm oil production business a prime business in those states. Palm oil production could be labour-intensive but with the aid of the right mechanical tools, you can produce commercial volumes per day.
29). Fertilizer Production Business:
Although chemical fertilizers are in demand, most farmers and agro businesspersons prefer to use organic fertilizers on their farmland to avoid adverse side effects. You can produce and distribute both chemical and organic fertilizers to the right market and you’ll make lots of profits in Nigeria, Africa and many other places around the world.
30). Tomato Production Business:
Nigeria is the largest producer of tomatoes in Africa. However, the country barely manages to cater to the demands, especially in the food processing industry. And this is largely because tomatoes are used in the production of several different tomato byproducts, including ketchup, canned tomato and tomato paste.
A major challenge with this business, however, is the short shelf life of the products. Tomato farmers often struggle with keeping their products healthy and safe to consume after the first few days of harvesting. Notwithstanding, with the help of the right preservation tools, you can keep your tomatoes fresh for days, long enough to distribute them to buyers.
31). Jute Farming Business:
Jute is known mainly as ewedu in Western Nigeria where it is commonly found and eaten as soup. It is grown in Asian and Middle East countries, with Bangladesh, remaining the largest producer worldwide.
While jute is used in the production of jute bags in other parts of the world, it is consumed as food in Nigeria. And this makes it a highly lucrative business with all-year patronage. The jute market comprises restaurants, local food vendors and individual consumers who buy from the markets in small quantities.
32). Palm Wine Production Business:
Palm wine is a tasty drink tapped from the stems of palm trees. All across Nigeria, palm wine is a major drink for relaxation, traditional ceremonies and local festivals. It is a refreshing drink with a lot of health benefits.
Starting the palm wine business in Nigeria requires the technical know-how to tap the trees right to avoid a sour taste. You could also employ the services of professional tappers to get the best quality taste. Palm wine producers will always find a market in local palm wine pubs, markets and local public events.
33). Shea Oil Production Business:
Shea oil is derived from the shea nut. It is a buttery substance with a lot of medical benefits. Shea nuts are predominantly grown in the Sub-Saharan parts of Africa. Whether in the semi-solid butter form or the liquid oil, shea enjoys a steady market in most parts of Nigeria because it is used across multiple industries, including the skincare, hair care and food production industries.
Notwithstanding, the process involved is heavily labour-intensive and often requires a lot of effort. You need to invest in machinery and human resources to get the best output.
34). Plantain Farming Business:
Plantain is one of the few crops with great export value in Nigeria after cocoa and rubber, although in small volumes. A large part of Nigeria and Africa has suitable soil and weather conditions for growing plantain. However, it is predominantly grown in states like Ogun, Osun, Oyo, Rivers, Akwa-Ibom and Edo, among others.
Plantain yields crops within 8 to 10 months after planting and can be grown almost all year round, which means it is not limited by seasons as long as the right planting conditions are in place.
35). Garri Production Business:
Garri is considered a major meal across all regions in West Africa and other parts of the world where cassava is grown. Although the processing might slightly differ, garri is made from the same source crop, cassava.
To start a garri production factory, you need to invest in human resources because it involves several steps. More so, the quality and nature of the cassava used affects the taste, colour and overall quality of the products. Hence, to get the best quality of garri after frying, it is important to network with the right cassava farmers.
36). Cashew Farming:
Cashew farming is another money-making agricultural business with great value in Nigeria and other parts of Africa such as Ghana, Burkina Faso and Ivory Coast. Cashew is a major source of food and is also used in the production of alcohol and other food processing industries. It is rich in healthy fats, proteins and carbohydrates, which are all helpful nutrients.
One of the major challenges of cashew farming is that cashew farms are prone to pest attacks. Once you install a good system to curb pest attacks, you will be able to produce a lot of harvests that can be exported to other countries.
37). Cassia Tora Farming:
Also known as Senna Tora, cassia Tora is one of the most underrated and unknown crops with great profitability in Nigeria. Seeds of the Senna Tora plant are mostly exported to other parts of the world where the demand is high.
The best part about Cassia tora farming is that you can venture into it with little or no capital. With the right species of cassia tora seeds and a small piece of land, you can get started and grow.
38). Coffee Beans Farming:
Coffee is a great source of wealth in Nigeria, Africa and many other places around the world. As of 2019, the global coffee market was worth almost $29 billion, with Brazil contributing about 25% to global production. Although Africa as a whole contributes less than 11% of the global coffee production, Nigeria remains one of the key producers on the continent.
Coffee bean farmers in Nigeria enjoy patronage from the food and confectionaries industries within and outside the country. For good profits, ensure to plant your coffee in good condition.
39). Fruit Export Business:
The export business is a rather broad sector, which contains several subsectors based on the products of interest. You could choose to focus on exporting fruits only. Nigeria produces lots of edible fruits which can be exported to countries with high demand. Such seeds include melon, dates, apples, figs, etc.
The export business at large involves risks but it is a rewarding money-making agricultural business. It is advisable to specialize in fruits with a long shelf life to avoid wastage in case of unforeseen delays.
40). Groundnut Farming:
Although groundnut is easy to cultivate, it does not grow well in the Southern region of Nigeria. It is commonly grown in states such as Bauchi, Taraba, Kaduna and a few other Northern states. This is because groundnut thrives mainly on soils with a minimum pH of 6.5 and annual rainfall of at least 450mm.
However, groundnuts can be grown with the help of artificial irrigation in areas with insufficient rainfall. It is a small-scale business opportunity for most farmers but you can as well expand your business scope for maximum market reach in Nigeria, Africa and many other places around the world.
41). Agro Blogging Business:
A modern dimension to making money from the agricultural sector is to create engaging and insightful blog content to provide farmers, entrepreneurs and investors with agro information ranging from new farming strategies to groundbreaking opportunities for farmers.
This is a business you could as well combine with your farming activity if you’re a farmer. You could share your personal farming experiences, ideas and tips, and make a lot of money from this.
42). Rabbit Rearing Business:
Rabbits are commercial animals with a lot of trade prospects in Nigeria, Africa and many other places around the world. Besides meat and fur supply, they are also great as pets. Hence, people are always on the lookout for healthy rabbits.
You can start a rabbit-rearing business on a small scale. All you need is a suitable cage and enough feed. You can also combine rabbit farming with any other job. If you leave them in a cage in a safe environment and with enough feed, rabbits will fend for themselves.
43). Agric Consultancy Business:
This is a money-making agricultural business idea for veterans and trained professionals in the agricultural sector. You could start a consultancy business to help new and budding farmers and agropreneurs make viable business decisions and strategies.
Agric consultancy business is a novel business practice in Nigeria but it holds lots of prospects. With a strong social media presence and ad placement, you will build trust with members of the public. The best part is that you can combine it with any other agricultural business in Nigeria, Africa and many other places around the world.
44). Sesame Oil Production:
Sesame oil is the oil obtained from sesame seeds after roasting. The oil is useful for salad dressings, skincare, hair care and in the food production industry. The process begins by collecting and cleaning the seeds, dry roasting, pressing and filtering the oil to get a clean and refined sesame oil.
On a large-scale basis, sesame oil production involves an extensive process, but it has high profitability and can be started in Nigeria, Africa and many other places around the world.
45). Garlic Farming:
Garlic farming is a global activity practised by small-scale farmers and large-scale farmers. Garlic has a lot of health benefits which increase its demand rate every year. For massive commercial production, garlic is best grown on clay loam soil.
There is an existing market for the garlic business. All you have to do is deliver your products to markets, supermarkets, and other vendors of raw foods in Nigeria, Africa and many other places around the world.
46). Lemon Farming:
Across Africa, Nigeria remains the leading producer of lemon fruit. Lemons are used across multiple industries, and this establishes their high market value. Lemons are easy to grow and they require only proper management and the services of unskilled labour. Within 4 to 12 months, you’d be harvesting the lemons.
The market for lemons in Nigeria, Africa and many other places around the world is readily available.
47). Chia Seeds Farming:
Chia seeds are the seeds of a mint flowering plant called Salvia Hispanica. The seeds are not only edible for humans but can also serve as feed for animals. Chia seeds are used in the fruits production industry, for the production of smoothies, bread spreads, and food toppings
Chia farming is one of the most unexplored money-making agricultural business ideas in Nigeria. Nigeria has enormous resources for growing chia seeds, but not many farmers are interested in this lucrative business. This means the market competition is low for new and intending farmers.
48). Cabbage Farming:
Growing a cabbage farm in Nigeria is another trusted route to making money in the agricultural sector. Cabbage is now considered food item available to everyone, contrary to the previous belief that it can only be afforded by rich people alone.
As the growing concern for healthy eating spreads among the populace, people now appreciate the nutritional benefits of eating cabbage. Hence, the market has increased rapidly. Meanwhile, ensure to plant only high-quality seeds in order to boost the germination process and get quality produce.
49). Almond Farming:
Almonds are brown edible seeds of the genus Prumus dulcis. The business opportunities created by almonds have increased their demands in recent years. Almonds are essential food ingredients. They are used to make oil, butter, flour and flavours.
One of the great values of delving into almond farming is that they have a great shelf life. Almonds can last as long as 2 years in preservation. Hence, they can be exported to high-demand countries irrespective of the distance.
50). Avocado Farming:
Farmers and entrepreneurs looking to start a lucrative agro-related business should consider avocado farming in Nigeria, Africa and many other places around the world. Avocados are commercial cash crops with great value both on the local and international markets.
Avocadoes are natural butter fruits with a lot of heath benefits and can be eaten with bread and other pastries. They are mostly eaten for their medicinal benefits. More so, avocadoes are easy to grow and maintain. So, you don’t have to bother about excessive maintenance costs.
51). Dates Farming:
Dates are sweet fruits eaten mostly for their taste and health benefits. They are mostly grown in the northern part of Nigeria, in states such as Katsina, Sokoto, Bauchi, Adamawa and so on.
Dates farming is a great business, but in Nigeria, it is still grossly unexplored. Notwithstanding, a prime money-making opportunity lies in date farming for entrepreneurs and investors. The success of this business lies in exporting your fruits and you can also distribute them to restaurants, hotels and markets where people buy in consumer bits.
To Sum it Up
In an effort to grow global economies, governments worldwide are encouraging private businesses and individuals to venture into the Agricultural sector. Contrary to popular belief, the industry can be highly lucrative at both a national and global scale depending on what you produce and whom you sell to. Also, there are a lot of lucrative agricultural business ideas for almost anyone to start with little to average capital.
If you’re looking for profitable agro-businesses to venture into, you can start any of the 50+ agricultural business ideas discussed in this article and grow from there.
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What are your thoughts on these 50+ profitable agricultural business ideas and opportunities you can start in Nigeria, Africa and many other places around the world? Let me know by leaving a comment below.
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