Since the earliest days, farming has been essential to fulfilling mankind’s primary sustenance needs. As a result, here are five small-scale farming undertakings you can pursue to generate income.
Establishing a farming enterprise in Nigeria is often seen as a daunting and challenging task due to the substantial finances needed to procure agricultural seeds, livestock, and machinery.
Nonetheless, there exist farming ventures on a small scale that do not necessitate an extravagant initial investment or millions of naira to function effectively.
Individuals have been trying to determine the agricultural sectors they can enter despite having limited resources. In light of this, we will suggest six small-scale farming business concepts without any specific sequence.
Maize Farming
In Nigeria, maize has a specific timeframe for growth, but its harvest and sales usually attract a significant number of people. Once boiled or roasted, maize or corn is fit for consumption.
It also produces various commodities for the food and healthcare sectors, such as wheat and corn syrup.
Since maize is a crop that grows in specific seasons, it needs proper storage. Setting up a corn farm in the open space at the back of your house is possible. An agricultural entrepreneur could invest a sum of N100,000 in acquiring seeds alongside essential agricultural tools like a hoe and a cutlass.
Production of Palm Oil
To initiate a palm oil business, you will need capital ranging from N100,000 to N200,000. Most oil palm trees are in southern Nigeria, such as Bayelsa, Delta, Cross River, Rivers, and Imo states. These states can serve as a guide for easy access to the necessary resources for the business.
In 2020, the palm oil industry in Nigeria proved to be highly profitable, as evidenced by research findings that ranked the nation fifth in production quantity and production of associated byproducts.
It is important to bear in mind that the cultivation of palm oil may require a lot of manual labor; however, by utilizing appropriate machinery, sizeable quantities can be produced on a daily basis for commercial purposes.
Vegetable Farming
Vegetables hold significant nutritional value and flavor, so every Nigerian tribe incorporates them in their soups and stews.
An initial investment of between N100,000 to N120,000 is necessary to commence a modest vegetable production and sales venture. You may cultivate various veggies such as cucumbers, cabbage, carrots, fruited pumpkin, and okra.
Mushroom cultivation
One of Nigeria’s most lucrative and underappreciated agricultural companies is cultivating mushrooms, a low-risk, low– investment enterprise. For those who refrain from consuming meat, it provides a nutritious alternative.
A small parcel will cost you approximately N500,000 if you do not possess agricultural land. Nevertheless, the costs required for operation are estimated to be around N100,000, which would be utilized for procuring essential equipment.
Physicians recommend the consumption of mushrooms due to the presence of niacin, a vitamin that aids digestion, and riboflavin and pantothenic acid, which provide protection to the heart.
Agro-blogging Enterprise
In contrast to conventional methods of cultivating crops and trading produce, agro blogging does not require ownership of land or resources as a prerequisite for participation.
An innovative approach to earning money in the agricultural industry is through producing up-to-date and informative blogs. These blogs will offer vital knowledge on farming methods, evolving procedures, and pioneering prospects to farmers, agro-entrepreneurs, and investors.
If you conduct thorough research or exchange your individual agricultural practices, concepts, and suggestions, you can earn considerable revenue from advertising and endorsements.