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Starting An Agric-business In Nigeria? What You Must Know! by Masterielcraig: 10:21am On Mar 02, 2019 |
The rising food prices present an ideal opportunity for people to go into farming-What crops would you recommend specifically for young people on a budget? The safest option is to start out with crops such as plantain, mangoes, bananas or oranges. In the case of plantains, you can cut cost by buying suckers from an established farm owner who may demand a lower price than the market. Plantains are ideal for young people because you will not be required to spend a lot of time on the farm; you harvest 9 months after planting and provided you keep your farm clean, you can gradually build your business. Other crops such as rice, beans and cassava require too much capital for beginners. What about Fish? There are a lot of young people interested in fish farming these days. Fish farming can be profitable but beginners must be careful to not buy fingerlings from the wrong source. These days, hatcheries give tadpoles of all sorts and if there has been inbreeding your fish will not grow. You will need initial start up capital of 15-20k. You can buy each tadpole for about 30 naira, you will spend about 200-300 naira feeding to maturity and you can sell for a price of 500 naira each. To cut costs, you can make the hatcheries yourself. They say that you can grow anything in Nigeria, what states are most conducive for some of our key crops? I would recommend growing plantains in the southwest, especially coastal areas. Benue state is very suitable for oranges and mangoes. With 5000 naira and some land you can plant oranges for an initial planting cost of 120 naira per seed. Mangoes and oranges will also grow well in Northern Oyo and Ondo state because these states typically do not exhibit too much rainfall and the soil is well drained. The disadvantage of these crops is that it takes 4 years for you to realize any returns so is most suitable for those who are willing to make a long term investment. So if you have a bit of money to put aside, instead of putting it in the bank, it is best to invest it in orange, mango or guava farming. read full post below https://medium.com.ng/starting-an-agric-business-in-nigeria-what-you-must-know/ |
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