If you live in areas that are full of swamps, the season is good for bargains. Rice farming is one of the viable investments that a serious investor should not despise. This is due to the potential for productivity and profit.
One of the advantages of rice cultivation is that it takes less than four months between planting and harvesting. Therefore, whatever amount you have invested now, you are sure of your return within the next four months, which guarantees the possibility of a quick repayment of your loan if you take out a loan to invest in rice farming.
Rice farming is simple and requires little expertise, everyone can grow and harvest rice, regardless of their experience and experience in the rice sector. Rice is a very high yielding crop. An acre of rice is able to produce more than 100 bags of rice. Below are some of the things you need to get there.
- A very good marshy ground, less acid
- High yield of rice species
- The right fertilizer and a good application
- Good weed control at the right time
- And plant early …
Put them in place and you are caught in the rice business!
Some Varieties Of Rice Cultivated In Nigeria
Native species with red grain (Oryza glaberrina)
- Fadama rice
- Mountain rice
- Lowland rice
How to start a rice field in Nigeria.
1. Choose Healthy Rice Seeds
The healthier your seeds are, the more likely you are to get the highest yield possible. You must choose an improved variety and select the right seeds according to the growing environment. Do not plant seeds blindly and choose only the best varieties of seeds. You have to choose the seeds manually for good rice production.
I would advise you to buy your seed from an approved company registered with the National Farm Seed Council (NASC), which regulates the seed sector in Nigeria. This will ensure that your seeds have been produced and distributed with high quality, thus increasing your chances of getting high yield.
The selection of good quality seeds will help to:
- Improve the yield by 5 – 20%
- Improve germination by more than 80%
- Increase resistance to diseases and pest attacks
- Produce a uniform plant size
- Reduce weed problems
2. Produce Rice Seeds In A Nursery
Prepare your seedbed and plant seeds for growing in a nursery. Cover the floor with a clear polyethene sheet so that the environment maintains its temperature while avoiding soil-borne diseases. Your yield can be greatly reduced if the transplanted rice is attacked by nematodes and soil pathogens.
3. Land Choice
Land itself is the most important capital asset for rice cultivation in Nigeria, and its value tends to vary according to drainage facilities, soil type and location. Rice is usually the crop of a small farmer and the average farm size is about 4.8 hectares. You need a lot of space to prepare your project and dry paddy rice before harvest.
- Select a site in ecological zones where rice is traditionally grown
- Choose fertile land with good water holding capacity (containing clay and/or organic matter, eg silty soil).
- If you have to grow rice for one or more consecutive years on the same land, seek advice from a reputable soil analysis agency.
- Grow legumes after rice and bury the rice residues in the soil as organic matter and fertilizer.
4. Swampy Land
In rice farming, you have the opportunity to plant rice in the lowlands and highlands, as well as in irrigated or swampy conditions. You can significantly reduce the capital and hassle of irrigation by choosing swamp lands for rice cultivation. The most common technique is to get wetlands and clean them thoroughly. Use tractors to work the soil appropriately until the soil is prepared for transplanting your rice plants.
However, it has been found that rice production is most productive on irrigated soils of swampy lowlands. But this type of environment has a higher cost.
5. Managing Soil Nutrient And Weeds
A few months after transplanting the rice plants, you will need to remove the weeds from the paddy field and then implement a herbicide application regime to destroy all emerging weeds. Some people tend to apply a herbicide twice before harvest.
To stimulate the growth of rice plants, fertilizer is often applied. You must perform thorough soil tests with specialists before applying any fertilizer. Always use organic fertilizer and spray it in the exact quantities specified. This varies depending on the soil, the environment and the type of rice you harvest.
Each stage of rice growth has different nutritional requirements. With this in mind, farmers must ensure that the rice plant receives the right nutrients at the right time.
6. Harvest Culture
A few months after planting, your crop will be prepared for harvest. When the rice is ripe, its colour changes from green to light brown. You will know that your harvest is ready for harvest.
The capital required for a rice-growing business tends to vary according to its nature. You obviously need enough land for rice growing. The rice mill generally requires adequate manpower, equipment and machinery. Retail sales and rice sales require the smallest capital investment. For a rice company, initial expenses include supplies, basic equipment, delivery, packaging, transportation, operating costs and various other expenses.
It is also important to consider storage costs to keep products in good condition. You can raise money for the rice trade in different ways. Because of the land requirements, rice production will require significant capital for its launch. But costs can be reduced if you own land or if you can partner with someone who owns the land.
Due to the technical knowledge required to start and maintain a rice farm, detailed activity planning and research must be done before starting.
8. Potential Profits
In rice production, projected revenues also depend on the capital invested. The larger the capital investment, the bigger the profits. If you start with huge capital, the return on investment will be larger and faster with more efficient, efficient machines, storage, and processes that can help you take advantage of opportunities and high demand.
Despite this, because of Nigeria’s agricultural transformation agenda, small factories show rapid growth and competitive advantage. This may be related to the increase in the amount of rice paddy produced. Nigerian entrepreneurs and rice farmers no longer doubt that rice farming is a profitable activity.
The large rice market in Nigeria, as well as the high costs and fees associated with importing rice, make local production very attractive. The Nigerian government has also introduced favourable incentives to promote local production. This has benefited local regions, for example, in Ekiti State, small mills startup with improved small-scale equipment, with an estimated growth rate of about 10 to 15 per year and targeting mainly the market. niche of Ofada and Igbemo. local rice.
9. Investment In Rice Agriculture In Nigeria
You know that this region has huge potential when the richest of African countries, Alike Dangote, said he was planning to invest billions of dollars in integrated modern rice mills and in commercial rice farming in Nigeria. It has already acquired about 1 ha of farmland in five of the states of Nigeria.
On a large scale, if you invest in Nigeria today about 1 million 14 in an integrated rice mill, you will get an internal rate of return on your investment of 42 – 50%. It will take you exactly a few years to recover this amount.
But on a smaller scale, if you only spend a few tens of thousands in your rice growing business in Nigeria, you can get a 25-30% return on investment within ½ year from the moment you start your business. Rice growing is undoubtedly one of the most profitable and lucrative business ideas in Nigeria.
As a wholesaler or distributor, you can get a bag of rice for ₦ 8,000 – ₦ 8,100 or possibly at a lower rate from your suppliers. A 110-pound (50 kg) bag of rice is currently sold between ₦ 10,000 and ₦ 12,000 in Nigeria. If you provide 50 bags of rice in one day at this rate, you will make a profit of 4000 X 50 = ₦ 200,000. Due to the instability of market prices, the price may be higher or lower at any time.
Benefits and challenges of rice farming in Nigeria.
- The strong demand for rice. All Nigerian households consume rice and the demand for this product will only grow!
- Makes early. Many crops need six months to a year to be ready for harvest. At the same time, rice only needs four to five months to be ready.
- High yield. You can expect at least 100 bags of rice from an acre of land.
- You do not have to be an expert rice farmer in Nigeria to start this business.
- High return on investment and market stability.
- Get the right variety. If you are new to the rice-growing sector in Nigeria, you must draw your attention to the right variety of rice or you can lose your project.
- Sickness. Rice growing in Nigeria can include potential diseases for your rice. Consult experts to shed light on the disease base.
- Birds. The biggest threat to all the cultures of Nigeria!
- Import of rice. Foreign rice is cheaper than local, so you will need to work harder for people to buy your rice.