₦airaland Forum

Hello guys,

Please I want to invest on Cassava plantation this coming year. I have made up my mind to quit my job latest Dec next year.

Farmers in the house, please assist with relevant information. I don't want to make any mistake.

I will also appreciate response to the questions below

1 where can I get 3 to 4 acres of fertile land to lease around Lagos/IFO
Please note :
that my budget is 25k per acre/year
The land must be motorable
Available of machine (tractor) to hire.
There must be other farmers farming around.

2. How much profit can this generate in a year

Olabest911:
Hello guys,

Please I want to invest on Cassava plantation this coming year. I have made up my mind to quit my job latest Dec next year.

Farmers in the house, please assist with relevant information. I don't want to make any mistake.

I will also appreciate response to the questions below

1 where can I get 3 to 4 acres of fertile land to lease around Lagos/IFO
Please note :
that my budget is 25k per acre/year
The land must be motorable
Available of machine (tractor) to hire.
There must be other farmers farming around.

2. How much profit can this generate in a year

You budget 25k to cultivate an acre of cassava? That money cannot transport you to farm in 2 months.

Embarking on a cassava farming venture is a commendable decision, and thorough planning is essential for success. Let's address your queries systematically:

1. Securing 3 to 4 Acres of Fertile Land Around Lagos/IFO

Budget Considerations: Leasing rates in the Lagos and IFO regions vary. In Ifo, Ogun State, land prices range from ₦600,000 to ₦20,000,000 per plot, with an average of ₦1,500,000 per plot.
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Given that 1 acre equals approximately 6 plots, leasing an acre might exceed your ₦25,000 per acre/year budget.

Alternative Locations: Exploring areas like Ikorodu, Badagry, and Ipaja may offer more affordable options. In these developing regions, land for rent can be found within a budget of ₦200,000 per annum.
PROPERTYPRO

Land Suitability: Ensure the land is fertile, motorable, and has access to tractor services. Visiting potential sites and consulting with local farmers can provide insights into soil quality and available farming infrastructure.

2. Profit Potential from Cassava Farming

Yield Expectations: With improved farming practices, cassava yields in Nigeria can reach up to 23.4 tonnes per hectare.
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However, average yields are often lower due to various factors.

Revenue Estimates: Assuming a yield of 20 tonnes per hectare and a market price of ₦20,000 per tonne, gross revenue per hectare would be ₦400,000.

Cost Considerations: Expenses per hectare include land acquisition (₦90,000 – ₦350,000), land preparation (₦45,000), cassava stems (₦20,000), and planting (₦11,000).
VEGGIEGROW

Profit Calculation: Subtracting estimated costs from revenue, the profit per hectare could range between ₦100,000 and ₦200,000, depending on specific expenses and yield outcomes.

Recommendations:

Conduct Detailed Research: Engage with local agricultural offices and experienced farmers to gather region-specific information.

Budget Flexibility: Be prepared to adjust your budget based on actual land prices and operational costs.

Start Modestly: Consider beginning with a smaller plot to gain practical experience before scaling up.

By approaching your cassava farming venture with careful planning and realistic expectations, you can enhance your chances of achieving a profitable and sustainable operation.