Money Making Agricultural Business Ideas

Money Making Agricultural Business Ideas

As a budding agriculturist, I see myself in an excellent position to preach the economic viability of agricultural businesses. Unfortunately, the idea of agriculture evokes negative sentiments in many Nigerians, who see farming as old-fashioned and unprofitable.  

For one, agriculture doesn’t have to be farming, and when done right, even farming isn’t half bad; after all, we’ll always need agricultural products.

Apart from farming, there is a legion of agriculture-related business ideas that anyone can implement to take advantage of the multi-million-dollar industry. This article will show you the best money making agricultural business ideas and how to implement them profitably without any agricultural background.

Money Making Agricultural Business Ideas

Best Money Making Agricultural Business Ideas

Here are 25 money making agricultural business ideas to help you get into a profitable agribusiness easily.

1. Snail farming

Snail farming is a booming agribusiness in Nigeria, thanks to its numerous income opportunities. While escargot is not exactly the most in-demand meat out there, not many people rear it either, making it one of the least competitive and most profitable money making agricultural business ideas for any Nigerian.

2. Poultry farming

The Nigerian poultry industry produces several million eggs and a nearly endless supply of meat, but for a chicken-hungry population of 200 million people, the output is still not nearly enough. Since the sky is wide enough for all birds to fly (no pun intended), you’ll experience virtually no competition raising chickens and selling eggs, despite the number of poultries already existing in Nigeria.

3. Landscaping

If you’re passionate about exterior design, you may want to explore a career in landscaping, a business that entails making a garden more attractive using ornamental plants. With many homes and businesses hiring landscapers to give their surroundings a facelift, making money off this business is the easiest part.

4. Pesticide and insecticide manufacturing

Destructive insects and pests are some of the biggest worries of the average Nigerian farmer, but you can help them solve them by manufacturing pesticides and insecticides. Since this field requires handling and transporting chemicals, it’s one of the more technical money making agricultural business ideas, so you’d ideally want to get some training before giving it a go.

5. Farming equipment rental

You don’t need to be on the field to make money from Nigeria’s booming agricultural industry. With substantial capital, you can buy heavy farm machinery and rent it out to farmers, charging them on a daily or weekly basis. While this business idea will thrive in Nigeria, the high upstart capital makes it impractical for the average Nigerian.

Also Read: 11 Best Microfinance Banks In Nigeria

6. Fish farming

Nigerians love their fish, and nothing can take that away from them. What you can take away, however, is their money in exchange for delicious fish farmed in artificial ponds. With little capital and some tiny fish, you can make a killing from a fishery business in Nigeria.

7. Animal feed manufacturing

Non-nomadic livestock farmers rely on animal feed to ensure their animals get a balanced diet all year. Hence, producing and supplying animal feed to livestock farmers is one of the best money making agricultural business ideas. What’s more, you can combine this with other agro-businesses seamlessly, creating multiple streams of income.

8. Pig farming

A significant section of the Nigerian population avoids eating pigs, mostly for religious and cultural reasons, but that section also avoids farming them. If you’re not religiously anti-pork, farming pigs in Nigeria will be one of the best money making agricultural business ideas for you, as you’ll experience virtually no competition.

9. Agro-exports

Exporting agricultural produce typically holds more value than selling it in Nigeria, but the government-induced barriers to exporting prevent farmers from even trying. If you’re brave enough, you can buy farm produce directly from farmers and export it to foreign countries. While it’s risky, it can turn out to be one of the best money making agricultural business ideas when done right.

10. Fertilizer production

Running a large-scale fertilizer production facility may require tons of permits and paperwork from the agriculture ministry, but you don’t have to start that big. If you’re familiar with the steps required to make fertilizer, you can start on a small scale and sell it to local or subsistence farmers for cheap.

11. Agricultural consultancy

If you have an agricultural degree, you can set up a consulting firm to help budding agriculturists maximize their yield. You can also back this up with a blog that guides farmers on the basics of farming to earn from ad placements and sponsorships.

12. Dairy farming

Nigerian dairy farmers still struggle to compete with imported dairy products, mainly due to a lack of government support. Thankfully, they don’t have to, as there’s a huge local dairy market in Nigeria, with yogurt producers and local consumers as the primary customers.

13. Seed production

An alternative to operating a nursery is producing and selling seeds, as there’s a pretty huge market for them in Nigeria. Since the two money making agricultural business ideas aren’t mutually exclusive, nothing stops you from running a nursery that sells live plants and seeds at the same time.

14. Beekeeping

Beekeeping is one of the more technical money making agricultural business ideas on this list, as it requires a special kind of facility and a skillset that many simply lack. If you happen to have the two requirements for setting up a successful beekeeping plant, you can easily make a killing from this agribusiness.

15. Herb farming

The largely unregulated herbal medication market is still huge in Nigeria, making herb farming a pretty worthwhile investment. One significant benefit of growing herbs is that you don’t need a large farm; a tiny garden is “a fertile land for growth” of herbs. If you’re only after a side hustle, growing herbs should be one of the best money making agricultural business ideas.

16. Agricultural loans

Financial institutions can tap into the agricultural scene by offering low-interest loans to farmers to help them get set up for the planting season. Since agricultural production is highly in demand in Nigeria, agriculturists are very likely to return loans, so loaning them money is one of the best money making agricultural business ideas in Nigeria.

17. Plant dye production

Tying and dying are deeply embedded in Nigerian culture, but extracting dyes from plants is largely indigenous to the Yoruba people of the South West. However, you don’t have to be Yoruba to take advantage of this business idea, and the expansive tie and dye industry in Nigeria will ensure every drop of dye you produce sells.

Also Read: Best Loan Apps In Nigeria

18. Farm machinery repair

Auto mechanics can easily diversify into the farm machinery repair niche, as farmers typically don’t want to spend valuable time fixing their vehicles. Since it’s a low-competition but high-profit trade, farm machinery repair is easily one of the best money making agricultural business ideas in Nigeria.

19. Cassava processing

Cassava is an insanely useful crop across Nigeria, as it’s used in many of the country’s staples, including garri, fufu, and other similar foods. If growing cassava isn’t your cup of tea, you can focus on processing it into a finished or semi-finished good, and if you’re really good at it, you’ve just got yourself a money making agricultural business idea.

20. Spice farming

Despite most Nigerian foods incorporating spices in some way, there’s still a shortage of farmers growing them in the country. If you’re after low-competition cash crops to grow, spices are an excellent idea, and they generally don’t take too long to grow.

21. Cashew farming

Growing cashew is a capital-intensive agribusiness, as it’s only worthwhile if you own the land you’re planting it on because it takes a couple of years to grow. Once it grows, however, it becomes one of the best money making agricultural business ideas, as the average cashew tree lives for up to 50 years.

22. Flour milling

You can cash in on Nigerians’ love for flour by setting up a flour mill to process regular farm produce into flour for cooking. Some popular flours you can mill as a small agricultural business include yam flour and wheat flour, among others. Branding and packaging your flour beautifully makes it possible to sell smaller units at higher prices, especially when you’re really good at it.

23. Nursery operation

Most garden farmers in Nigeria either have no idea how to raise seeds into living plants or are simply not willing to do it. If you’re willing and can raise seeds, you can start a nursery operation and start selling seedlings to farmers who are not willing to raise their own. It’s not one of the easiest money making agricultural business ideas, but you can make a considerable amount of money in the trade.

24. Vegetable oil production

Nigerians purchase unbranded vegetable oils as much as they do branded ones. Thanks to this opportunity, extracting vegetable oil from plants is one of the best money making agricultural business ideas in Nigeria if you’re familiar with the technical aspects of the trade.

25. Pet food manufacturing

The pet culture is slowly creeping into Nigeria, and local pet food manufacturing is now one of the best money making agricultural business ideas for Nigerian agriculturists. If you can make a cheaper local alternative to the insanely expensive foreign pet food using Nigeria’s abundant agricultural produce, you can easily cash in on the growing home pet market.

Conclusion

Your agricultural business doesn’t have to follow a template; if you can identify a unique problem within the agricultural industry, you can create a business that solves that problem for farmers for a price. If you don’t have anything in mind, however, these 25 money making agricultural business ideas should point you to where the money is in agriculture.

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