The agricultural sector offers a plethora of opportunities due to its vast categories. Making money from an agricultural business necessitates some prior experience in developing a business concept. Before you decide on an idea, develop a business plan that includes market research on the products you grow as well as how to get them to market for sale.
You’ll also need a solid financing strategy, as most agricultural business investments necessitate access to large plots of land and farm equipment to get started.
TOP 10 BEST AGRICULTURAL BUSINESS IDEAS WITH LOW STARTUP CAPITAL (2023)
The most profitable agriculture business ideas are compiled below to assist you in deciding your preferred business to start and make money from in a very short period of time.
Catfish is a distinct type of fish that is high in polyunsaturated fatty acids, which aids in the management of human cholesterol levels. Because of the numerous health benefits of this species of fish, it is in high demand among health-conscious eaters, particularly those over the age of forty. Restaurants, fast food joints, hotels, food courts (shopping malls such as Shoprite), local pepper soup joints, market women, secondary and tertiary institutions of learning, and offices are all potential markets for any entrepreneur interested in catfish farming in Nigeria.
The profitability of catfish farming is determined by the amount of capital you are willing to invest as an entrepreneur. Aside from catfish farming, you can also specialize in fish feeds. This is yet another profitable aspect of the fish business. There are numerous articles on the internet that explain how to begin catfish farming in Nigeria. Visiting a successful catfish farm and seeing things for yourself is the best training you can get.
FRESH VEGETABLES BUSINESS
Fresh vegetables is a small-scale business that can be started with little or no capital. One advantage of this business is that it does not require any maintenance. There is also a constant demand for fresh leafy vegetables such as Waterleaf, Scent Leaf, Ugu Leaf, and Green.
You will need a small space in your compound or a nearby farm to cultivate the vegetables in order to run this business. You only need to plant the vegetable’s stem for cultivation. The vegetables are ready to harvest in six weeks or less. You harvest the leaves and sell them to customers and marketers.
This is another business that many entrepreneurs overlook. You can obtain small snails from villages or snail farmers; rear the snails for a set period of time and then sell them for a profit. Snail meat is a low-fat meat substitute. People who are on a diet or have a medical condition that prevents them from eating too much cholesterol usually substitute snail meat for meat.
The mushroom business has become viable due to the high demand for mushrooms both within and outside of Nigeria. The good news is that mushrooms mature in a matter of weeks, so you can make money from this business in a matter of weeks. If you have a clean space at home, you can start your own mushroom farming business today and sell mushrooms to hotels, exporters, and pharmaceutical companies within the next 21 days.
Maize is one of the most adaptable emerging crops, able to thrive in a variety of agro-climatic conditions. Maize is known as the “Queen of Cereals” because it has the highest genetic yield potential of any cereal. You have the option of starting a large-scale maize farm. Corn matures for harvest in about 3 to 4 months. You can choose to supply corn to businesses that use it as a raw material.
POULTRY EQUIPMENT MANUFACTURING
Welders, carpenters, electricians, and other skilled artisans typically construct various equipment needed on a poultry farm. You can learn the various specifications required for poultry equipment and you’ll be good to go.
CHICKEN AND EGG BUSINESS
Essentially, this entails bridging the gap between poultry farmers and the consumer market. It is extremely profitable and requires very little capital to get started. You can concentrate solely on chicken, eggs, or both. You meet poultry farmers, buy their stock, and resell it to wholesalers and retailers in the market. It does not require any special skills; all that is required are your marketing abilities and a working vehicle.
This is for people who have a lot of experience with fish farming. Many people who want to start a fish farming business prefer to hire a fish hatching consultant rather than purchasing fingerlings, which is more expensive. You can start a fish hatchery to assist fish farmers in starting and expanding their businesses. The fee you charge for your services will be determined by your location and the number of fingerlings you are required to hatch.
Cassava farming is becoming more profitable in Nigeria as the country’s use of cassava products diversifies. This agricultural product has always provided a source of income and food for millions of Nigerians. Every day, 90% of Nigerian households consume cassava products.
Groundnut is a popular snack that is enjoyed by a large number of people. If you go to a nearby supermarket, you will see bottled groundnuts that have been creatively branded and packaged. It takes very little effort to fry and package those groundnuts for sale and distribution.
You can start your own groundnut processing and packaging business for as little as N50,000. You can, of course, do it from the comfort of your own home. If you can start your own groundnut farm, you can get cheap raw groundnuts, but if you don’t have the space, you can still get cheap raw groundnuts from farm markets.
There you have it, ten unique agricultural business ideas to start in Nigeria today. There are more, so this is not an exhaustive list. I’m happy to point you in the right direction if you need assistance starting any of these businesses. Please let me know if I missed anything.