With the world’s market value of crude oil diminishing, various countries are driving their focus to other largely ignored revenue streams. Nigeria as a nation was greatly hit with this unfortunate turn of events in the energy industry, and as such, has reacted with a new line of action: Agriculture.
Agriculture in Nigeria as a source of income is still highly beneficial for the nation and Africa as a continent, because of the abundance of farmable lands and an increase in the number of yearly entrants. The benefits the industry poses has caused an emergency action by the government to introduce several attractive incentives for new and existing farmers in the sector.
The early players are most likely going to be the greatest beneficiaries, and stand a chance to own the future large industries that’d employ thousands of people on the continent to work in their successful organisations.
Here’re are five solid reasons to invest in agriculture in Nigeria now:
1). The Government Desperately Needs You To:
Right now, the Nigerian government and several other governments in Africa are in desperate need of a lot of individuals and businesses to start agricultural businesses. This would ensure their countries have a steady flow of income even if the price of crude oil stays low or completely goes extinct.
With an economic recession and several other uncontrollable events, the government is making access to agricultural loans a lot easier. People investing in agriculture in Nigeria or across Africa now have easier access to loans for fertilisers, machinery, land, and a lot more.
Taking advantage of the government’s call for people to startup agricultural businesses now, is a smart move before the incentives get drastically reduced, after a reasonable number of agricultural businesses become successful.
2). A Gold Mine For Smart Entrepreneurs:
A comprehensive market research to know what agricultural products are selling fast now or not, will help you make a lot of money before that segment gets populated. Agricultural produce are products that the world needs. Without them, many industries can’t function, some governments can’t grow, and people can’t feed. Identifying a niche agricultural segment to drive high revenues would make a lot of people millionaires before others realise it’s already happening.
3). Source Of Employment:
Agriculture in Nigeria continues to remain a great source of employment. People in rural and less populated communities depend on farmlands for their lively hood. While many work as staffs in large farms, families own small farms they till periodically.
With more and more crops grown and sold in local and international markets, the unemployment rate will continue to drop and the standard of living will only continue to rise in Nigeria and many parts of Africa.
4). Abundance Of Food:
That’s right, you’ll never go hungry!
Owning a large or small diversified farm will always ensure you never worry about what to eat even if you have little cash at hand or in the bank. Apart from satisfying your personal food needs, there’s a population of 0ver 190 million Nigerians who eat everyday.
The mere fact that the market will forever be hungry guarantees this revenue stream will never dry up.
5). Land Appreciation:
When you buy a plot, two plots, or several acres of land for your agricultural business, years later, the value of your farm lands would be several times the original value. In the end, you don’t just make only revenue from your products, but your net worth also rises as the years pass by.
This is a win-win!
To Sum It Up
With these facts are clearly stated, it would be unwise to miss out on the opportunities agriculture in Nigeria and several parts of Africa holds. The first investors are likely to be the largest players in the near future, providing thousands of jobs to the populace.
Start your agricultural business today!