FEASIBILITY STUDY ON RICE FARMING IN NIGERIA

FEASIBILITY STUDY ON RICE FARMING IN NIGERIA

FEASIBILITY STUDY ON RICE FARMING IN NIGERIA

FEASIBILITY STUDY ON RICE FARMING IN NIGERIA

When you consider all of the diverse foods consumed on the earth, it’s easy to conclude that rice is arguably the most popular. Rice is the most consumed food crop in most Asian countries such as China, Indonesia, North Korea, Thailand, Japan, and African countries such as Nigeria, Ghana, Senegal, and South Africa, according to statistics. Rice has been used to make a variety of delicacies, and more are being made on a daily basis, indicating that there is a great need for rice around the world.

Nigerians alone use roughly 5.5 million tons of rice each year, with more than half of that imported. In fact, Nigeria spends over #365 billion on rice importation each year, including subsidies, and as a result, the government has deemed it economically prudent to increase domestic rice production. Since the current government took office, efforts have been put in place to ensure that rice output skyrockets and the industry has seen a significant boost. Even while smuggling still occurs, the government has been able to achieve this by prohibiting rice importation through land borders, which has allowed local rice producers to grow better than previously. Rice farms have sprung up all throughout the country, and the government has devised a number of strategies to work with rice farmers to ensure optimal productivity.

Even with all of these in place, there is still a significant gap between the amount of rice produced and consumed within the country, which is a huge source of concern, but also an opportunity. Nigeria is currently the world’s largest importer of rice; this data may appear alarming given our enormous agricultural grounds and trained farmers to handle farming. However, this simply demonstrates how much potential there is in the area; because there is true high demand, there is also a genuine big opportunity for entrepreneurs who choose to invest intelligently in it. There are a variety of methods to invest in rice production in Nigeria; the market is simply too large; you can own a farm, invest in processing, or pool your risk in completed product sales. Whatever style you choose, the possibilities are endless; the only limits to your success in this business are the ones you set for yourself. Even if you have no interest in tilling the ground to grow rice, it is beneficial to have a basic understanding of the various stages of the farming process because it will help you decide what type of product to invest in. This page will provide information on the various stages of rice cultivation, as well as the profitability and obstacles that come with it.

 

  IN NIGERIA, THE REQUIRED FACILITIES FOR RICE FARMING ARE:

  1. Swampy land: Rice can grow on practically any type of terrain, but studies and experience have proven that rice should be grown on swampy land for the best yield. This is one of the main reasons why rice farmers take care to properly till the soil and irrigate their area before beginning cultivation. Although swampy land is not found in every section of Nigeria, this should not be a deterrent because there are a number of steps that can be performed to get the needed land moisture. These procedures will undoubtedly cost the farmer more money, but they will be proven to be well worth the investment in the long term. The most popular method entails acquiring a plot of land, tilling it thoroughly using a tractor, and guaranteeing enough irrigation. Rice grows best on irrigated lowlands, despite the fact that achieving this status might be costly.
  2. Irrigation channel: Rice will grow scarce in dry grounds, so if you wish to go into rice farming, you should have swampy land. Irrigating the soil is the greatest way to accomplish this since it allows you to produce and harvest rice all year. All you have to do now is build an irrigation channel that will supply water to your entire farm, including the planting area. To accomplish this, you may need the help of an expert; there are irrigation specialists in every state.
  3. Rice seeds: Aside from the soil, one of the most essential aspects of rice cultivation is the type of seeds utilized in propagation. The reality remains that the healthier the seeds utilized, the better the harvest; this, in my opinion, applies to all types of farming, not only rice farming. The parent stock has a significant impact on the farmer’s yield at the conclusion of the season. Choosing seeds should primarily be dependent on the cultivation environment. Make sure you look for a better type that will thrive in your environment and is a disease and insect-resistant. It is recommended that you buy seeds from a company that is completely registered and recognized by the National Agricultural Seeds Council (NASC), Nigeria’s seed industry’s regulating organization. Selecting the proper seed variety will provide you with the following benefits:
  • Increase crop production by 5% to 20%.
  • Improve crop germination by more than 80%.
  • Ensure a higher level of pest and disease resistance.
  • Reduce weed-related issues.
  • Plant size consistency.

 

 

READ ALSO: SAMPLE OF A CONTRACT PROPOSAL IN NIGERIA

 

FEASIBILITY STUDY ON RICE FARMING IN NIGERIA

  1. Rice seedling nursery:

A nursery is a facility where seedlings are raised for transplanting. It is primarily utilized in commercial farming and helps to increase productivity because the seedlings are usually raised in a controlled environment. Rice requires only the preparation of seedbeds in the nursery, the planting of seeds, and the covering of the soil with transparent polythene sheets. The polythene covers will help to keep the soil warm and moist while also preventing soil-borne diseases. You can transplant the rice seedlings to the main farmland once they have germinated. Nematode and other soil pathogen assaults can have a significant impact on rice productivity (disease-carrying organisms).

  1. Hauling mill: Rice is normally ready to harvest four months after planting, which is a significant benefit of rice production. When it’s harvested, it doesn’t look like conventional rice; it still needs to go through a number of steps, which is why you’ll need a mill. Separating the haul from the grain is a technique that entails separating and blowing off the haul from the grain.
  2. Knowledge: Having a passion for rice farming isn’t enough to succeed in the profession; there are many additional elements to consider. It is critical that you gain as much knowledge as possible about both farming techniques and the business sides of the industry. You may be required to visit numerous rice farms and processing facilities, to stay with some of them for a period of time, or to take a few rice production courses. All of them will fully prepare you for any unforeseen circumstances that may arise on the farm or during the processing step.

 

THE COST OF STARTING A RICE BUSINESS IN NIGERIA

To start or maintain a business, it is necessary to have capital. Capital is more than just money. In a nutshell, capital refers to the assets that are available for use or that are employed in the production of more assets (which could be in form of goods or services). As previously said, there are numerous ways to get into the rice business, each with its own set of financing requirements. Rice cultivation obviously necessitates a large farm to begin with, as well as tractors (which can be purchased or rented), labor, and other costs. There is no set amount that you will require, but it will mostly rely on the element of your business that you wish to focus on and the size of your company. Before diving headlong into the business, make sure you have enough information about the expenses of numerous key components, such as transportation, storage, procurement, packaging, delivery, basic equipment, and running expenditures, to name a few. Putting all of this together can help you arrive at a reasonable estimate of how much money you’ll need to start and run your firm. It is recommended that you do a thorough feasibility study and develop a realistic and practical business plan. This will assist you in creating a road map for your company.

 

If you need a service of a Professional Business plan writer, then Dayo Adetiloye Business Hub is the place to go Call or WhatsApp us now on 081 0563 6015, 080 7635 9735 or send an email to dayohub@gmail.com  and we will solve any of your business plan problems.

 

Hope you enjoy this article?

Share your thoughts in the comment session.

Contact us today for your business consultancy and business advisory services. We can help you fine-tune your idea, structure your business, market your business, train your staff, consult on your retirement plan, coach you for financial success. We also write a business plan and help with fundraising strategies and Grant applications. We can help you start, grow, and expand your business.

Call or WhatsApp us now on 081 0563 6015, 080 7635 9735 or send an email to dayohub@gmail.com  and we will solve any of your business problems.

Enter your name and email and get the weekly newsletter.. Joining is FREE!

Dayo Adetiloye Logo

Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).

Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.

Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.

We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Mission Statement:
– Provide bespoke management and business planning consultancy
– To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
– To inspire, empower and champion entrepreneurship in the global online community.

Business Goals and Objective

– Engender national prosperity by contributing to the creation of at least 100 new businesses every year
– Become a go-to brand for outstanding business development services for MSMEs
– Strategic partnership with local and international organization to empower start-ups
– Continuous innovation to serve our clients better

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness

Share this:

GI Vital Soft Gel

Grant Winning Blueprint

How to Turn Yourself into a Live Breathing Cash Machine

Ecommerce Business

Follow me on Facebook

Follow me on Twitter

Share this:

LinkedIn
Facebook
Twitter
Email

No Responses

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

About Us

Dayoadetiloye.com is a property of Dayo Adetiloye Business Hub committed to connecting entrepreneurs with resources.

We are one stop Business Resource Center where we help you discover, Develop and Fulfil your business potentials.

On this platform, we help you develop business plans and strategies, connect you with funding opportunities and share with your business opportunities.

Facebook Community: https://www.facebook.com/groups/156197005130352/

Twitter: www.twitter.com/dayoadetiloye

Email: Dayohub@gmail.com

Copyright 2023 All rights reserved