Farming is the cultivation of of soil for the growing of crops and rearing of animals to provide food, milk, wool and other products, farming contributes to food security which is one of our objectives here at SunTwist, it helps in keeping the ecosystem stable. Also farming is one of the major contributors to the economy as it makes up 20 to 40%of Nigeria's GDP depending on the year and creates employment for tens of millions of people.
It is a major source of income and livelihood in most parts of the world.Everyday more and more people are going into farming. Owning farmland is a great investment idea as there will always be a demand for food and the by-products the farming industry produces. According to statista.com Nigeria has an arable land area of 34 million hectares so so owning farmland in Nigeria is always going to be viable.
A farmland is an asset that one can decide to cultivate , lease out to local or smaller farmers, share crop , and if the farmland also has a large body of water ,water rights can be sold,as a source of supplementary income ,also kept in the long term for resale or flipping , regardless of cost a piece of farmland will pay for itself in the long run.
In Nigeria agricultural production companies have a tax exemption of 5 years five years some of Nigeria's major exports include maize and cassava , Guinea corn, high-end cash crops like Cocoa ,cashew, palm oil and one can also decide to focus on organic farming as people are more conscious of what they eat.
Factors to consider when looking at buying a farmland include :
Your proximity to markets: Consider where you’re going to sell your products, or how you’re going to reach sales channels. If they’re too far away ,theres going to be a lot of struggle getting products to the market.
Access to water: It’s important to make sure you have a steady supply of water, so be sure to ask plenty of questions and consider all of your options. How will you provide water for the plants, animals, and processing day to day needs on the farmland?
If the land you are prospective farmland has a well, it is always good to obtain information about the well, such as type, depth, output, and age. You may also want a water quality report.
Soil quality: As with water, high-quality soil is a must for most farmers, especially if you decide to go into crop production ,try to have for soil tests carried out on the land before purchasing, Soil testing can be an important predictor of production capacity and expenses. Accurate predictions of fertilizer needs for specific crops can be made based on the test results, and even for livestock, different soil types can even impact growth and health, sometimes requiring supplementation.