Invest in Agriculture

Before now, Nigeria’s economy was heavily dependent on oil and gas. However, this era is gone. The world market value of crude oil is diminishing because of other renewable sources of power and energy. As a smart country, the nation has started driving her focus to other sources of revenue generation, with the agricultural sector being at the forefront. Agriculture in Nigeria is highly lucrative because of the abundance of fertile farmlands, labor and resources. Before the era of crude oil, it was Nigeria’s first economy booster, and the country exported millions of various agricultural products. This abundance of food produce is evident in the amount of produce produced in states like Ondo, Ogun, Kano, Ebonyi, Imo, Jos, Benue, Abia, Enugu, to mention but a few.

Currently, the agricultural potentials of Nigeria are barely being tapped because of the over-dependency on crude oil. This is the reason why the country, before now, was unable to meet the ever-increasing demand for agricultural produce. Although it’s rarely tapped, the sector remains a dominant employer of labor, employing about 30% of Nigerian citizens. Because of this, serious investment in Nigerian Agriculture is needed to enhance the industry and increase revenue generation.

Reasons to Invest in Nigerian Agriculture Sector

Agriculture in Nigeria is the next focus for revenue generation.
Due to the oil crisis, the Nigerian government is encouraging individuals and businesses to invest in agriculture. With constant investment in Nigerian agriculture, the country is sure to have a steady flow of income even if the crude oil price stays low. Because of this, the Nigerian government has created many incentives and favorable policies to help farmers and investors in agriculture to find it easy to start and run agro-business in Nigeria.

Investing in Nigerian Agriculture is tapping into a gold mine
If you’re a smart entrepreneur or investor, then you surely want to invest. Why? There is a high market demand for Nigerian agricultural products both in and out of the country. The nation, Africa and the world need these products and Nigeria has the fertile lands and resources required to run a lucrative agro-business. At the time, some entrepreneurs are exporting these products at little quantities and making gains, imagine what will happen when you invest fully.

When you invest in Nigerian Agriculture, you create employment channels
Agriculture in Nigeria remains a great source of employment, especially in rural areas where citizens depend on farmlands for daily living. While these people have small farms where they farm periodically, they prefer to lend their experiences in large farms as staff. This serves as an extra source of income for them and is their way of contributing to national development. When you invest in agriculture, you help reduce unemployment in Nigeria and put smiles on people’s faces. With cash crops being grown and sold both locally and internationally, the unemployment rate will drop, and the standard of living will rise.

Investing in Nigerian Agriculture costs you almost nothing
When you buy land for agro-business, you’ll generate income from the business and still have the property to yourself when you decide to stop. Besides, with years, the value of your farmland will be several times the original value. In the end, you make revenue from both your agro-business and from the land. It’s a win-win.

Nigeria is blessed with the Necessary Resources for Agriculture
Nigeria has over 84 million hectares of arable land, favorable weather, human resources, and a high number of the population is within the ages of 0 and 35. This youthful generation is enlightened and produces more output than the older generation.

There is Dire Need to reduce Post-Harvest Wastage
Due to the lack of proper food processing and preservation infrastructures, a great number of the produce harvested yearly, go to waste. A walk through the streets of Oyo, Enugu, Osun, Kwara, Benue and some other food producing states and you’ll see the potential that exists in food processing and preservation sector. 

Investment opportunities in the Nigerian Agricultural Sector
There are many opportunities to invest in Nigerian agriculture. Some of these include;Crop Productions: You can invest in cash crops to achieve food security and to provide industrial raw materials. Some of the crops you can invest in include cereals (maize, rice, sorghum, corn, millet, wheat), root crops (cassava, yam, ginger, potato, cocoyam), fruits (mango, banana, oranges, guava, papaw, pineapple), legumes (soya beans, groundnuts, cowpeas), tree crops (oil palm, cocoa, rubber, coconut, kolas, coffee, she nuts, beniseed, cotton, cashew nut, sugar cane), vegetables (cabbage, green pepper, carrots, lettuce, spice, onions, melons) etc. The fertile lands of different places in the country support the growth of these crops.Livestock and Fishery productionAnimal husbandryFood processing and preservation Agricultural inputs supplies and machinery, water resources development etc.The exploitation of timber and wood processing activities.Commodity trading and transportation Development and fabrication of agricultural produce processing machines.

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