What are the 6 most lucrative agro-products to consider in Nigeria?, when starting an agri-business or looking to sell agro-products firstly let’s know that the Agricultural sector contributes just a little over 20% to the overall GDP of the country even though it can be much more.
The agricultural sector is one of the most flourishing sectors of the Nigerian economy. With proper strategic planning, any individual having basic knowledge of farming or even with your good sales skills and manufacturing operation can start a profitable agro-product business.
In today’s post, we have shared a list of the most lucrative agricultural and farming business ideas that anyone in Nigeria can start in 2020, with all these being said let’s dive in.
6 Most lucrative agro-products in Nigeria.
Rice.
It’s almost indisputable by all that the population of Nigeria is around 200 million people. It is also a fact that, at least, 70% of the residents would pick rice first among a list of foods. This translates to around 140 million people eating rice in Nigeria. This is definitely a huge figure, and it’s the reason it remains the costliest amongst all foods in the country.
Meeting the market demand has remained a big challenge. With the closure of Nigerian borders and other measures to discourage influx of foreign products in the country, the case is worse. This means demand remains largely unmet by supply, making its farming very lucrative.
Cassava.
With the increasingly diverse use of cassava products in Nigeria, cassava farming is getting more lucrative with every passing day. This farm product has always been a source of lively hood and food for millions of Nigerians. 90% of Nigerian households consume cassava products every day. Some of the popular meals made out of cassava are: garri, wheat-flour, animal feed, commercial caramel, and a lot more.
Beans.
Beans, which is very rich in protein, iron and vitamins, is eaten in every house in Nigeria, either as bean cake, moin-moin, soup popularly called gbegiri in Yoruba land, or as cooked beans in its original form. Nigeria is said to be the largest producer and consumer of a particular variety of beans, cowpea, in the world.
Palm Oil.
Sales of Palm Oil is one of the lucrative businesses in Nigeria because of its diverse usefulness and the huge profit involved. In Nigeria, palm oil is one of the essential needs for cooking most meals. The interesting part of this business is that every part of the palm tree (fruits, leaves, trunks, and sap) is used for different things.
Plantain.
To say plantain is one of the most sought after foods in Nigeria is to state the obvious. Most Nigerians will not consider a meal of either rice, beans, porridge, pasta and so on, fulfilling until it is accompanied with fried plantain.
It is a healthy source of complex carbohydrates. A cooked unripe plantain is also said to be of high nutritional and medicinal values to man. Research reveals it is a rich source of fiber, vitamins A, C, and B-6, and the minerals magnesium and potassium.
Maize.
Maize is perhaps the most common food crop in Nigeria, and also the most important as it is eaten in various dishes and forms the basis for most of the meals prepared by the average Nigerian family.
Do you know any other lucrative agro-products please share with us in the comments section.