Agriculture in Nigeria presents significant opportunities for profitability and economic development. Choosing the right crops is essential to optimizing returns. Whether you’re an experienced farmer or just starting out, understanding the capital investment and potential profits of different crops is crucial for making well-informed decisions.
With a population of over 200 million and a rising demand for locally produced food, Nigeria’s agricultural sector offers vast potential.
From essential crops like cassava and rice to high-value crops like cocoa and pineapple, these farming ventures provide rewarding returns for those who implement efficient practices and focus on market-oriented strategies.
According to Agriculture Nigeria, below are the 10 major cash crops to grow for profit in Nigeria.
1. Cassava
Cassava is a major staple crop in Nigeria, widely consumed and processed into various products such as garri, fufu, and tapioca. It is one of the easiest crops to cultivate and offers considerable profit potential.
Starting a small-scale cassava farm can be done with an initial investment of ₦50,000 to ₦100,000. A well-managed one-hectare farm can yield profits of up to ₦500,000, depending on market conditions. Its ability to thrive in diverse climatic conditions makes it a reliable choice for farmers throughout Nigeria.
2. Maize
Maize is another key staple crop with strong demand for both human consumption and livestock feed production. To start a maize farm, an investment of ₦100,000 to ₦200,000 is required. With effective soil preparation, planting, and pest management, a one-hectare maize farm can generate profits between ₦200,000 and ₦400,000. Its versatility in various industries guarantees a consistent market, making it a dependable choice for farmers.
3. Rice
Rice is a staple food in Nigeria, and the growing demand for locally produced rice, supported by government initiatives, creates a profitable opportunity. Establishing a rice farm typically requires an investment ranging from ₦500,000 to ₦1,000,000. However, the returns can be substantial—a well-managed one-hectare rice farm can yield profits from ₦800,000 to ₦1,500,000. Adopting mechanized farming practices can further boost both productivity and profitability.
4. Tomatoes
Tomatoes are highly profitable due to their widespread use in Nigerian cuisine and as raw material for food processing industries. To start a tomato farm, an investment between ₦200,000 and ₦500,000 is needed. With effective irrigation, pest control, and access to markets, a one-hectare tomato farm can generate profits ranging from ₦300,000 to ₦800,000. Many regions in Nigeria allow for year-round cultivation, ensuring a consistent income for farmers.
5. Plantain
Plantain is a popular crop in Nigeria, consumed in many households and food establishments. Starting a plantain farm requires an investment of ₦200,000 to ₦500,000. A one-hectare farm can yield profits of ₦500,000 to ₦1,000,000, particularly with modern techniques such as sucker multiplication and proper spacing. Plantain farming is low-maintenance and offers a steady income stream.
6. Pineapple
Pineapple farming offers great profit potential, driven by high local demand and export opportunities. To establish a pineapple farm, an investment between ₦300,000 and ₦600,000 is required. A well-managed one-hectare farm can generate profits between ₦500,000 and ₦1,000,000. With a long shelf life and strong demand for both fresh and processed products, pineapple farming is a smart investment.
7. Watermelon
Watermelon thrives in Nigeria’s warm climate and offers quick returns. Starting a watermelon farm requires an investment of ₦200,000 to ₦400,000 for a one-hectare plot. A well-managed farm can yield profits up to ₦800,000 per harvest cycle. Its refreshing appeal and popularity during Nigeria’s hot seasons ensure steady market demand.
8. Soybeans
Soybeans are versatile, used in food production, livestock feed, and oil extraction. Establishing a soybean farm requires an investment of ₦200,000 to ₦400,000. A one-hectare farm can yield profits ranging from ₦400,000 to ₦800,000. Its adaptability to various climates and soil types makes it an excellent choice for farmers across Nigeria.
9. Cocoa
Cocoa farming is a long-term investment with significant profit potential. To establish a one-hectare cocoa plantation, an initial capital investment of ₦1,000,000 to ₦2,000,000 is needed. Once mature, cocoa trees can generate annual profits ranging from ₦1,500,000 to ₦3,000,000 per hectare. As one of the world’s leading cocoa exporters, Nigeria offers a steady and lucrative market for cocoa farmers.
10. Palm tree
Palm oil farming is one of the most lucrative agribusiness opportunities in Nigeria. To establish a palm oil plantation, an investment of ₦1,000,000 to ₦3,000,000 is required, depending on the scale. With proper management, a one-hectare plantation can yield profits ranging from ₦2,000,000 to ₦5,000,000. Beyond red oil, palm trees offer additional income from by-products like kernel oil, wine, and wood, creating multiple revenue streams for farmers.
