This write-up is a continuation of part 1 on how to start a new farming/agric business in Nigeria. In part one of this article, we discussed some of the factors that a friend of my failed to consider before venturing into watermelon cultivation business that led to his total loss of investment capital. This piece as a follow up to part one will continue with the factors that many elites who jumped into farming failed to consider that made them to lose their investments. It will also equip the intending farmer with the right kind of knowledge needed before they start their farming business. For part 1 Click HOW TO START A NEW FARMING BUSINESS IN NIGERIA PART 1
Before we proceed, we want to summarize the factors which we explained in part one of this article. They are as follows
We have discussed the effect of Lack/ Inadequate knowledge about farming on farmers and under it we explained the kind of knowledge that is expected of an intending farmers. Under this heading we discussed the following.
- KNOW ABOUT THE CROP:
- KNOW ABOUT THE WEATHER
- KNOW ABOUT THE MARKET/DEMAND.
Having acquired the desired and requisite knowledge, the next crucial thing is to have a concrete financial plan for the cultivation of the crop you intend to plant ranging from acquisition of land, preparation of farmland, labourers, seeds and seedlings, chemical, planting, harvesting, marketing and sales. These factors must be clearly taught out and the financial implication of each must be considered. Many people have put themselves in a precarious situation by cultivating a large expanse of land which they have no capacity to finance from cultivation to harvesting. Experience has shown that because of cheap cost of farmland in the village, many people bought a large hectares of land, started farming only for the budgeted capital to get exhausted mid-way and that will be the beginning of the end of the investment.
Selection of Farmland
The soil that is on a particular farmland goes a long way to determine the kind of crop that is suitable for that particular area. Therefore, it is very essential for you to get a fertile land that is good for the kind of crop you intend to cultivate. We normally ask our clients who are interested in purchasing farmland from us about the kind of crops they are interested in cultivating and we counsel them as to what they can grow on a particular piece of land. Sometimes it requires the farmer to do a soil test analysis before he chooses what/where to farm. Most of the time you can determine what grow well on a land by considering what are being grown in the neighbouring land. It is also important to locate your business in a place close to your produce market and consider cost of logistics and accessibility.
Security from pest attack and theft of produce is an important aspect of any farming business, especially when you have a large farm. Therefore you must make provision for how to secure your farm from thieves.
In conclusion, we have tried to explained briefly some factors that must be considered before you start a new farming business in Nigeria. If you need any clarification or help regarding farming generally or farmland investment feel free to contact us
Farmland for Sale: N200,000 per acre at Odeda, Ogun State