Rice Production and Investment Opportunities in Nigeria

You will agree with me that rice is one of the major staple foods in Nigeria, consumed across all geopolitical zones and socioeconomic classes in the country. Given the importance, boosting its production has been accorded high priority because rice production in Nigeria is among the lowest within neighboring countries, with average yields of 1.51 tonne/ha. Although Nigeria is the largest rice-producing country in West Africa, She is also the second-largest importer of rice in the World.

According to statistics; Nigeria currently consumes about 7.9million metric tons of Rice annually while production is currently at 5.8million metric tons. Before the boarder closure, Nigeria spends over N356 million annually on the importation of rice to make up for the shortfall in production. Rice is cultivated on about 3.7 million hectares of land, representing approximately 10.6% of the 35 million hectares of land under cultivation, out of a total arable land area of 70 million hectares in Nigeria.

Although the local production of rice has increased, there remains a huge gap between the demand and supply of the commodity. Investors are therefore urged to join in the cultivation and production of rice, considering the opportunities in the business. More investments in rice production will help the country achieve self-sufficiency.

Looking at the Nigerian economy today, and the continuous increase in the demand for rice daily, this is the perfect opportunity for investors and farmers to dive into rice production because increased production of the commodity will largely improve the economy in many areas.

When Nigeria begins to produce is large volumes, the exportation of the commodity will be inevitable therefore, creating foreign markets and exchange for the economy which will promote sustainable growth.

Another importance of rice production is that it will help promote food security in the country since it is one of the most consumed foods in Nigeria. More job opportunities will be available especially for the youths and women, there will also be readily available raw materials to processors and food manufacturing companies.

With the current increase in demand to promote and ensure food security in Nigeria, this is an opportunity to empower rural farmers to boost the production of rice which will aid the distribution and expansion of the supply chain in Nigeria. Rice farming can serve as a source of income to farmers and a host of other groups.

Investment Opportunity:

farmcenta agric-tech rice investment
Invest in Farmcenta Rice Farm

Farmcenta Rice Farm Investment is currently open for sponsorship! 🌾

A unit cost of the farm is #75,000 (Seventy-Five Thousand Naira) which means you can Invest as little as #75,000 and get 20% ROI (Return on Investment) after 6 months. Moreover, you get 22% returns on your investment when you sponsor 10 units and above. The Rice Farm is located at Agwatashi in Nasarawa State.

Click here to sponsor a rice farm

Partner with Farmcenta and empower rural farmers while you grow your investment.

Click here to read previous rice farm cycles cultivated by rural farmers empowered by Farmcenta.

#StaySafe and Make Returns from Home 🏠 

Farmcenta is an Agri-tech startup that seeks to improve rural farming by addressing farmer’s critical farming needs such as mechanized tools, high yield seeds, training on climate-smart agriculture techniques and off-take harvest to increase food production in Nigeria and Africa. Our mission is to provide an opportunity for everyone to support SDG 2: Zero Hunger. Learn more by visiting our website at www.farmcenta.com or contact us via InstagramFacebookTwitter, or LinkedIn, or via email at info@farmcenta.com.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button