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If you intend to venture into farming business in Nigeria, it is advisable to follow the steps highlighted below for a successful business.
Identify a farming problem
The first step is to identify a farming problem that you can solve in your society. You must source for a market that will purchase your crops or livestock before venturing into the business.
Close the knowledge gap
Once you have identified a particular problem that you want to solve with your farming business, the next step to take is to seek knowledge on how to effectively solve this farming-related problem. You can do this via two avenues; by seeking agricultural education or by consulting with experts. Regardless of the type of farming business you want to engage in, you also have to know the following basic things which are; the right input, proper management, site selection, and security.
Raise capital
The primary factor which limits lots of farming businesses is lack of capital. The fact is that there are various means of raising capital and they include; personal finances, loans, and equity funding.
Launch
The final step is to launch your farming business. Start small, nurture the business and ensure that you follow the right procedures.
Benefits of farming in Nigeria
- Food security
- Source of saving
- Source of economic development
- Great employment opportunities
- Foreign Exchange resources
- Source of raw material
- Source of livelihood
- Contribution to National Revenue
- Supply of Food as well as fodder
- Marketable surplus
- Significance to transport
- Significance to International Trade
Factors affecting farming in Nigeria
In Nigeria, several factors influence farming in Nigeria. Some of the factors are highlighted below;
Climatic condition: This includes temperature, growing season, altitude, rainfall, and wind. The fact is that these factors cannot be controlled as it is a natural phenomenon.
Soil: Soil type also influences crop cultivation because different crops usually thrive on different soils. For instance, clay soils have good water retention and are well suited for rice cultivation whereas Sandy soils are good for root vegetables.
Slope: The angle of the slope will affect the depth, type and moisture content of the soil. It also affects the rate of soil erosion.
The human factor: This includes technology, Government policies, Capital, Transport, Market, and Land Tenure