Agriculture is a very big market, even the Federal Government of Nigeria are trying to diversify the economy from Oil and more into the agricultural sector. Agricultural businesses are the most lucrative businesses in the world, apart from the low-cost of start-up and running the business, agricultural businesses turn out a huge profit of up to 100%. With the increase in unemployment, young people are now embracing agriculture which was erstwhile considered a dirty business reserved only for the poor.
Agricultural businesses can be started with little or no training. You do not need a special degree to start though you may need to spend some time learning about the intricacies of the business.
Without further ado, here are some lucrative business ideas you can engage in, in towns or villages rather than remaining unemployed.
Did you know that the charcoal production industry is a multi-billion dollar industry and a money spinner? Did you also know that you can make 100% profit if you buy your charcoal from the farm or production site and sell to the retailers; a bag of charcoal (32 to 35kg bag) is being sold for N450 to N550 from the farm, while the retailers sell to the final consumer at N1000 to N1,5000 per bag. All you need to do is to buy the charcoal from the farmers and bring it down to the major cities like Lagos, Abuja and Port Harcourt and resell to the retailers.
Alternatively you can sell to exporters as a large market exists in EU, USA and ASIA with prices ranging from $170 to $300 per ton (FOB Nigerian Port), depending on mode of packaging.
2. Groundnut Processing
Groundnut is a popular snack and is loved by a lot of people. Very little effort goes into frying and packaging groundnuts for sale and distribution.
With as low as N50 000, you can start your own groundnut processing and packaging business. And of course, you can do it from the comfort of your home. If you can start your own groundnut farm, you will get access to groundnuts cheaply but if you don’t have a space for groundnut farming, you can still get cheap raw groundnuts from farm markets.
3. Fruit Juice Production
As a young entrepreneur, you can start making your own fruit juice and supply them to supermarkets and food stores around you. There is huge demand for natural fruit juice now as more people are now learning how to eat healthy and avoid artificial and overly preserved foods and drinks. You can buy fruits in large quantity from local farmers and make your own natural healthy fruit juice at home.
4. Plantain Chips Production
Production of plantain chips is the frying of perfectly sliced ripe or unripe plantain in hot oil until it’s dry, crispy and crunchy. Plantain chips are the most popular plantain products in Nigeria, just make sure you put your label, the more you produce, the more money you make, because majority of Nigerian love plantain chips.
5. Mushroom Farming
Mushrooms are natural phenomenon that can give you much money. The untapped potential of these fungi is so much that if you invest on the venture, your room can no longer be your bank. Mushrooms are rich in vitamins, protein and minerals; they are favored over meat or even fish by some people, considering the nutritional value and superior health implications. There are two main broad categories of mushrooms; the edible and the non-edible (which is poisonous).
Not many people know that this business brings up to 500% profit. If you have a clean space in your home, you can start your own mushroom farming business today and start selling mushrooms to hotels, exporters and pharmaceutical companies in the next 21 days.