HOW BIG CAN I FARM WITH #150,000
I managed to save up #150,000 so i can do something lucrative with my life precisely in Agriculture, Although this capital isn’t what i initially planned to start up with but it’s all i have…PLEASE FAMILY what are my chances…? Also what sort of farming do you think it’s ideal considering the start up capital? Putting the cost of labor and weeding along the line into consideration.
I would appreciate your sincere opinions
From : Ilorin, Kwara State
I think cassava, as you’re being advised, would be a great one. If you already have a land, great! With 20 – 30 thousand naira (depending on your source of labour), you should be able to clear the land and make ridges. With 10,000 naira, you should get quality cassava stems from IITA or whichever agric company does that near you. Finally, with 8-10 thousand naira, you should be able to get farmers to plant them for you.
If you don’t have a land, I’ll advice that you speak to farmers around you. The state government sometimes offers lands for rent. Last time I was told, it costs about 30,000 naira for 25 acres per year which is quite cheap. Don’t forget that if you’re able to rent the land, you can do anything and many things with it.
My advice is – PLEASE AND PLEASE, make sure you use quality cassava stems, ferterlizers and good processes. Let’s build a Nigeria that focuses on quality production rather than making quick money.
God bless you and your farming sir.
It is important to think ahead, trying to start something lucrative for yourself no matter how small the money is. Before we advice you meaningfully on this, you need to tell us more about your background in farming. What knowledge and experience do you have and in what aspect of Agriculture?
- You can start vegetable farming on a small scale, like in one or two plots of land. The vegetable may be Tomatoes, Pepper, Okro, Ugu vegetable, etc. When you harvest and sell, you may combine the capital and profit realize to increase your capacity.
- Small poultry farm with 100 birds (Layers) may be good too. You produce eggs and sell on daily basis. As you know, egg is very important in out daily diets in this country.
- Mushroom farming is very important too if you know how to go about it. I think N150,000 may just be enough to start reasonably.
There are many more agribusiness you can invest your N150,000 on but that depends on what you know. So tell us the type of agribusiness you are familiar with and we may try to give idea of what your capital can carry.
I am been talked into Cassava, Soybeans/Maize farming as i have experienced farmers around me as support in those areas and they think my capital would start that up, though personally i have little experience in livestock farming (Layers, Broilers) and fishery but i am not sure the capital at hand will see me through.
AGAIN, WHAT DO YOU THINK???