In Nigeria, rice consumption is almost more popular than rice farming. It is the second most-consumed food in Nigeria, after cassava!
Nigerians consume rice in all its glory; the popular Naija Jollof, white rice and stew, fried rice, coconut rice, ‘wanke’ and other variables.
We know you enjoy at least one of these variables so you will find these facts about rice farming in Nigeria interesting, just as we do-or even more.
- Rice Farming in Nigeria is Promising
Rice farming in Nigeria offers a promising business opportunity.
Rice is a staple food to the average Nigerian; there has been an increase in the demand, standing at an annual growth rate of about five percent.
Coupled with being an essential food security crop, rice is also an essential cash crop; it generates more income for Nigerian farmers than any other cash crop in the country. Hence, rice farming is a profitable and sustainable business venture.
- We Need to Make More Hay
Nigeria is the largest producer of rice in West Africa and the third in Africa, producing an average of 3 million metric tons annually.
However, Nigeria currently does not fulfill the demand within the country itself which is put at about 7 million tons per year.
Actually, Nigeria is the highest consumer of rice in the West African sub-region but she is the second-largest importer in the world, importing at least 2 million tons annually from countries like China, Republic of Benin, Thailand, India, etc.
Although the recent closure of our land borders by the Federal government has been attested to be an effort towards curbing this, you will agree with us that we need more efforts towards increasing our production to meet local demand and even surplus produce to export.
- Start-Up Capital for Rice Farming
Generally, rice farming is not overly capital intensive, but it requires the application of correct knowledge and practices. You also need capital for the adequate workforce, machinery, and equipment for general rice milling after harvest.
Rice farming thrives well when the right land meets with the right hands.
We know this at Winich Farms and that is why we choose to invest in rice farming and most importantly, help you to do the same.
This November, our Rice Farm will be opened for subscription. If the facts you just read about rice farming in Nigeria or any other fact interests you, then you should learn more about how you can own a rice farm unit yourself, with ease.
Feel free to ask your questions or share a fact with us by commenting below.