By Daniel Edu
In recent years, farming in Nigeria has witnessed a positive transformation, offering job opportunities and entrepreneurial prospects for those venturing into agriculture. With farmers making significant profits, the future seems promising for wealth creation through farming.
For potential agricultural investors, here are the top five cereal crops that promise quick returns on investment during the rainy season:
1. Maize: Maize thrives abundantly during the rainy season in Nigeria. Apart from its traditional use as a food crop, maize has diverse applications, including livestock feed, ethanol gas, plastics, crayons, whisky, and various medical products. Its global demand has sparked interest in maize as a lucrative investment option. With a short growth period of 90 to 120 days, maize can yield over 500 kernels from a single seed, provided it receives proper care and attention.
2. Wheat: Wheat is a versatile crop extensively used for producing flour, bread, pasta, and other food items. Nigeria holds a significant position in wheat production in West Africa, producing 420,000 metric tonnes in 2020. Efforts are underway to improve the crop’s yield and quality, with research focusing on disease and pest-resistant wheat varieties. It thrives best in areas with a temperature range of 10–25 °C and offers a high yield potential of 5–6 metric tonnes per hectare, making it suitable for various agro-ecological zones.
3. Rice: Rice is a staple food widely consumed in Nigeria, with a per capita consumption of 32kg. Due to insufficient local production, the country spends a substantial amount on rice importation annually. This has encouraged the government to promote local rice production by imposing high duties on imports. Rice farming can yield considerable profits, with potential earnings of close to N800,000 per hectare. If unable to farm, individuals can opt for rice processing, reaping up to 150 percent profit as off-takers, while farmers make 100 percent profit on the same quantity of rice. The rice farm cycle ranges from 95 days to 250 days, or sometimes 12 months.
4. Oats: Oats are among the healthiest grains globally, rich in essential nutrients, fibre, and antioxidants. Although oats were not cultivated in Nigeria in the past, they are now gaining popularity to improve food availability. Encouraging more farmers to grow oats could conserve foreign exchange spent on oat importation. Oats are rust and leaf blight tolerant, boast high panicle yield, and have a high protein content. They take around 130 to 140 days to mature.
5. Millets: Millets are vital crops in Nigeria, valued for their productivity and ability to grow in dry, high-temperature conditions. Consumed by humans for thousands of years, millets played a pivotal role in the rise of multi-crop agriculture and settled farming societies. By utilizing irrigation and soil supplements, millet grain production can increase 2–4 times on a per-hectare basis.
For entrepreneurs seeking profitable ventures in agriculture, these cereal crops hold great promise in the Nigerian rainy season, offering both economic growth and food security for the nation.
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