On 26th of June 2013 we highlighted 12 different sectors where business is being done in Nigeria. I promised to explain all those sectors one after the other and turn this blog into a hub where you can consult when looking for a business idea to go into. First on our list is Agriculture. We will be looking at different business opportunities available in this sector and will welcome comments and further advice in this matter.
Large scale farming
To say that we need to do more business in this sector cannot be over emphasized. We have seen a decline in the amount of products we produce in Nigeria. Some say its because a lot of farmers does not get support, others say we the farmers have lost patience and looking for quick cash. It has to be highlighted that this sector is very under used in Nigeria and we have to do more. If we could get people who will use modern equipment and invest in this sector the funds are there to be made.
A good example of this is the farm owned by Nigerian ex president Olusegun Obasanjo, we will agree that this sector has a lot of gains to reap from it. We have firms you can consult to be able to help you achieve your aim in this sector, Nigeria also has a very large and cheap labour who will be happy to get jobs in these farms and ready to be trained on the use of new farming tools. So what's holding you back? Roll your sleeves lets go into the farm.
Farming equipment (sale and hire)
We have actually seen an increase in this sector but more business is still available to be exploited in the sector. We have seen people in the recent past start
Land Preparation
People in Nigeria have never seen this in a modernized light. they still look at this part of business as local and crude. When u mention land preparation they picture a village man or woman with cutlass and hoes getting a piece of land ready to be cultivated. But come to think of it, if u have large scale farming system and they want to sub-contract their land preparation stage? Would it be wise to say that we don't have a business opportunity in that regard or can we simply try and create one? In business people might never tell you they need something until you show them why it is needed. why try do the same business when we can use our initiative and create new ones?
Poultry
This is one part that has done really well in recent years in Nigeria especially when it comes to egg production. What if someone can ditch the nomadic way of rearing cattle, goat and sheep for a more modern way of doing it. Lets keep our options open on this.
Palm Plantations
We still have a lot to do in this and the prospects are very promising, if we can get wealthy Nigerians who will want to invest in this sector or even foreign investors who will want to come in and invest on palm plantations we might just hit a jackpot. A good move by the Abia State Governor T A Orji to procure the palm plantation in Ndioji Abam and Umuhu in ahia eke, so that the government can develop these to earn more money for the state. This move will both employ people in the state and encourage agriculture in that state. Why cant we dig in and do more business in this regard.
Fishery
We have a lot to do in this sector of agribusiness but steady power supply impede the growth of this sector because it makes it harder to preserve this.
Food Processing
This is arguably the fastest growing sector in agribusiness and we have seen a lot of modernization and reforms in this sector. A lot more food types is being introduced in this sector but a little look into what has been accomplished will show you that the sector is still very much untapped just like the already mentions sectors. As blessed as we are, we still treat agriculture like something foreign when we should embrace it more.
Fertilizer
No need to mention how huge this part of agribusiness can be. We also have a lot of people trying to go into production of more organic fertilizer which is very encouraging, a huge money maker right now. I know of one that is being developed in Imo state, cant put my finger on why it is not yet opened. very big project that will employ over 500 job seekers and will generate tons of income for the investor.
Fruits (wholesale and supplies)
Huge business available in this sector when you think about whole sale and supplies to big shops like Shoprite and food processing firms such as those that make fruits and dry nuts. We always import most of these fruits when we can get the technology to grow them at a suitable temperature. Huge business still to be done in this regard.
Farmers consultancy firms
A lot of us has never looked at this as part of agribusiness, but this is very huge in developed countries. This is where you have your vet doctors and the people you make enquiries for weather problems and irrigation solutions and erosion. People who read Agric science in school have upgraded there skills and open firms to work in this sector. We still have uncovered grounds on this.
Forestry
You sure would agree with me if I say wood is being used extensively in almost everything and we are still learning new ways to use them , making them very high in demand. Forestry and dealing on timber has seen so many local men get very rich, but we still have a lot of business to be done on this. Please note that we encourage afforestation as these trees are chopped down.
Cocoa Plantation
We simply have too much money and too much business to be done in this sector. We use to be very good exporters of this product but lacking largely in recent years. Can we do better in this sector and see profits sky rocket.
We have mentioned 12 business opportunities available in Agribusiness, we have looked at areas we can do better (which is in almost all of them)
keep checking my blog for the best investment tips. We will be looking at 12 more sectors where you can invest in Nigeria and as we do feel free to ask me to put you thru if you have the capital.
Mike Jacobs
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