Business Advisory
Nigeria is one of the countries of the world with the highest percentage of arable land for farming, According to www.theglobaleconony.com Nigeria ranks number 12 [twelve] in the world among countries with highest percentage of arable land with 40.5% of its land termed arable, ahead of South Africa which ranks 100 in the world with only 9.9% of its land termed arable. Rwanda is the number one in Africa with 51.4% of its land termed as arable.
According to www.finance.yahoo.com, “Arable land can be defined as land that is either currently used or potentially capable of being used to grow seasonal crops”. “According to Research and Markets, the global agriculture industry was valued around $12.25 trillion in 2022. This is expected to grow at a compound annual growth rate of 9.1% during 2022-2027 propelling the market to reach above $19 trillion by the end of the forecasted period”.
Nigeria’s 35 million hectares arable land makes her the seventh country with the largest arable land size in the world, just behind Canada. This fact makes Nigeria a world ranked country in terms of potential for agricultural output. The future of Nigeria lies in agriculture as it’s the land that is available for cultivation is so massive beating every other African country in terms of size of arable land.
To convert this potential to actual agricultural output that will help fast track the country’s economic development, we have come up with this report that includes ten selected crops with maturity profiles of between 1-18 months and that do very well within our tropical environment. These crops also have huge market attraction in terms of their usefulness for immediate consumption, as intermediate products for processing and as products in high demand for the export market. The short maturity profile of some of these crops makes it possible for some of them to be planted up to 2-3 times in the course of a single year. Each of these crops gives a minimum of 50% return on investment in one planting circle. This translates to far higher return on investment by the time the crops are planted up to twice or thrice in a year.
1. CASSAVA. Nigeria is regarded as the world’s largest producer of cassava. Cassava is cultivated mostly within the southern and middle belt regions of the country. It is cultivated year round and has a maturity profile of between one and one and half years. It is well suited for the tropical soil and can be stored underground for some time without harvesting it. Nigeria has potential of more than double the current output due to availability of more arable land. Nigerians depend mostly on Cassava for food consumption as it is processed to several types of local staple food items, garri, fufu, etc. Its value as food is so high that people make more money selling it for people to consume it than export it. This makes it a great crop for the local economy and also explains its high economic value. It is also used by manufacturing companies to make starch and a base for several pharmaceutical products. It is also processed into other byproducts used as animal food, which is in high demand as an export product.
2. CORN. This crop matures within the period of three months and is highly profitable, with a yield of over 50% return in every planting circle. It is grown virtually in all parts of Nigeria making it the most staple crop available for cultivation in the country. It is used mostly as livestock feed with the poultry industry consuming a very large chunk of the output in Nigeria. Other uses apart from consumption as food (processed into several staple food items) are, in food production (custard, cornflakes, and popcorn), pharmaceutical companies and other confectioneries. Corn farming needs to be planned very well to ensure one gets maximum value from its cultivation. Due to its seasonal nature, huge quantities of corn become available and cheap at the same time. This demands careful planning of its marketing. One should decide before cultivation where one’s output is going so that it is taken directly for that purpose rather than wait until harvest time and one will be running helter-skelter looking for buyers.
3 .YAM. Just like cassava, Nigeria is the world’s largest producer of yam. It is an annual crop that grows within a year. Yam can be cooked and sold in the food restaurant to make money, it can also be made into powder form as yam flour, which is a staple food item. It is native to Africa, particularly West Africa. Yam derives its attraction because it serves as a staple food as a form of carbohydrate. It is easily planted and harvesting is done sometime after 200 days of planting. The return on investment is high and its relatively long shelf life (one – three months) ensures some measure of price stability.
4. TOMATOES. Nigeria is the second largest producer of tomatoes in Africa and about 14th in the world. The major problem of its cultivation in Nigeria is the high incidence of post-harvest losses which runs to over 40% of total production. To mitigate this high incidence, every prospective tomato farmer is expected to come up with vibrant business plan for cultivation. The plan must incorporate what the farmer intends to do with the harvested product. The plan is expected to indicate whether the end product will be sold to processing companies (paste or puree) or supplied to bulk consumers like hotels, eateries, restaurants, etc. With its maturity put between 60 – 90 days, tomatoes can be cultivated up to four times in a year with irrigation farming. There is huge money to be made from tomato farming if the issue of storage is well taken of. The yield is automatically multiplied by two if post-harvest losses are eliminated by producing for a secured end user or buyer.
5. Potatoes. Potatoes are a source of food that is very rich in vitamins. The Irish variant is the most popular type in Nigeria. It has a high return on investment due to its export potential and attraction with high local year round demand. Its cultivation takes place over 60 – 90 days meaning that it can be grown about 2-3 times in a year. It is a major food item and can be used to make potatoes chips and it can be sold to food processing companies. The major problem of its cultivation is also the high incidence of post-harvest losses which is about 30% of output due to poor storage facilities. To solve this problem it is advised that the potato farmer should prepare a business plan that will highlight how and where the end product will be sold to after harvesting.
6. Cucumber. Cucumber is a fruit that grows a lot in Nigeria. It is planted during the raining season and harvested within forty to fifty days. It can be planted at any time of the year if one puts an irrigation system in place for sufficient water supply. Cucumber can be grown in almost all parts of Nigeria. It is used as a vegetable that can be eaten fresh or pickled (preserved in vinegar). It is also a fruit high in vitamins and minerals. After harvesting cucumber it can be sold in the retail market. Just like other perishable items its market must be well planned ahead. The planned supply must be places like hotels, restaurants and supermarkets. It can be sold in local wholesale markets to make quick margins.
7. Onions. Onion is a fruit planted mostly in the northern part of Nigeria. Onions are used in cooking food and they can be grown all year round with the use of irrigation system. It matures for harvesting within ninety days. Onions are a staple ingredient in popular dishes like Jollof Rice, Pepper Soup, Vegetable Soup, etc. It is also used in food processing and packaged with other products as pepper/tomato paste. Post-harvest losses due to low storage is a big problem in onions cultivation since the fruit is highly perishable. In this respect its marketing must be properly planned to know where the output will be supplied to immediately after harvesting.
8 CARROT. Carrot farming is highly profitable due to its attractive health benefit. It is widely consumed across the country as a root crop due to its edible content. It is the second most popular vegetable in the world after potatoes. It is also used as vegetable for soup and grated fruit for salad meal dressing and garnishing. Carrot can be eaten raw for its high supply of vitamins and minerals. It takes about seventy days to mature and is mostly grown during dry season in Northern Nigeria but can be grown year round with a good irrigation system.
9. Water Melon. It is a fruit that is consumed for its rich health benefit. Water melon fruit is 93% of water by weight with about 6% of small amounts of protein, fat, minerals and vitamins. It is used for production of juices, nectars and fruit cocktail. Water melon can be grown almost through the year with adequate irrigation system and effective pest and diseases control method. Like other perishable fruits its marketing must be properly planned to ensure that end products go to buyers who have already prepaid for them. Examples are supermarkets, restaurants, hotels and eateries.
10 PEPPER. Nigeria is the largest producer of pepper in Africa. Pepper is used mostly in Nigeria as soups, stews, and for preparing food like jollof rice. There are different types of pepper such as Red pepper, Chili Pepper, Bell pepper, Yellow pepper. It can be grown year round by using irrigation system. Pepper takes three to four months to mature. Thereafter it can continue fruiting for two years.
David Solomon Business Opportunities Report – May 2025. Prepared by Sunday Ikotun assisted by Kola Owolabi. Sunday Ikotun is on the consulting staff of David Solomon Consulting Limited. Kola Owolabi is the CEO of David Solomon Consulting – He is a Fellow of the Nigerian Institute of Management Consultants (FIMC.CMC)
David Solomon Consulting Limited is based in Igbesa,, in the vicinity of Crawford University. The organization has had the opportunity to execute landmark business development (business plan preparation and conduct of feasibility studies – while it operated as David Richard Associates) and market research briefs for organizations both within and outside Nigeria. They can be reached by phone or WhatsApp through 08023203198
