Editor's note: Saheed Akinola Esq, the NAIJ.com partner blogger, in this latest article, explains how people could make millions from farming without going to farm.
Saheed is a legal practitioner and consultant on farming/agricultural investments.
His expertise covers a wide area such as corporate practice, asset acquisition, property acquisition, sales and management, farm management and consultancy.
He consults for individuals and corporate organization across Nigeria and abroad.
He could be contacted via: firstname.lastname@example.org +2348032493960, +2348050221164, or propertylinelawyers.wordpress.com.
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This write-up is to sensitise Nigerians especially the civil servants, investors and employees on what type of farming they could engage in and how to engage in such farming businesses notwithstanding the tight schedule of their work which may not allow them to personally be in farm all the time.
We are going to present to you, based on our experience, types of farming businesses people with tight schedule could venture into, which will require little of their attention and which will not affect their work as office persons or very busy persons.
The fact that a person does not have much time should not be a barrier to making money from farming business.
1. Investing in farmland
Farmland investment is a lucrative business with a very high turnover. We eat food everyday and it is an important aspect of our lives. Since farming could not be done without an arable land, it is therefore investment wise and sensible that investors should key into agricultural /farmland investments.
Some of the ways by which investors makes money from farmland investment without going to farm are:
a. By buying and reselling
The value of land keeps increasing with time and as soon as the value of land goes up then the investor can sell it for a profit. The rate at which prices of food skyrocket in Nigeria has lured many people to farming and the more people that are going into farming the higher will be the value of farmland because of law of demand and supply.
Income from farmland could be generated on lease by the lessor in the following ways viz:
I. Cash rent
This is the agreed amount of money paid by the lessee to a lessor on a rented piece of land annually. Cash rent is calculated by naira per cultivated acre. This is a situation where an investor purchases a vast expanse of land and then leases it out to farmers who in turn will pay agreed rent on the land every year. At the same time the land will be appreciating.
II. Crop share
This is an alternative to cash rent. Crop share is an arrangement between lessor and lessee of farmland where after the crops are harvested and sold, the farmland investor/owner gets a share of the total sales, usually about 30% to 40% depending on the agreement between the parties.
III. Custom farming
If the farmland investors have a background in agriculture they may consider doing something else called custom farming. This is when the landowner or investor hires a farmer as a contractor to operate the farm.
Depending on the agreement, the contractor could perform only certain tasks like swathing and transportation, or operate the entire farming process from seeding to harvesting. The input costs like seeds and machinery is paid by the owner. The contractor just acts as an employee.
C. Training ground for farmers
Farmland investors could organize seminars and training for prospective farmers and use the acquired farmland for practical training field for his students. Certain parcel of land could be lease to each student for practical during the course of training.
Farmland investors need not know anything on farming before he ventures into this area once he could organize the professionals that could anchor the programme.
2. Bee keeping
Bee farming is a lucrative business with high return of investment which requires little or no attention. It does not require that you own land as you can do the business on a leased land.
You do not need to feed bees as they feed on nectar and pollen. Some of the farm crops they pollinate also provide nectar for the bees. Moreover, you do not need to look after the bees, as all they need is a place they can get nectar, pollen and water and a hive to live in.
A good and durable hive costs about N 10,000 and it could be used up to 10 years without any extra cost. Assuming one colony gives you 10 liters of honey after the first harvest and the current cost of selling a liter of honey is between N 2,500 - N 3,000, then you would have got more than 50% profit in the first year.
3. Snail farming
Snail farming in Nigeria is one of the most lucrative, cost effective, easy to run business that requires very little capital to run compared to other forms of agricultural practices. Snail farming does not require big parcel of land.
In fact, one can start a commercial snail farming business in one’s backyard. Therefore, it does not require you going to farm or leaving your job.
A Point of Lay breeder of Achatina Maginata (AM) snail costs about N 400 per one and it can produce about 35 snails in a year. Assuming that 20 pieces out of them grow to maturity and you sell them at 8 months old as Point of Lay breeders, you are going to get N 400 x 20 = N 8,000.
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After deducting all other miscellaneous expenses, one will still have a good profit margin.
In conclusion, we believe that farming businesses are not only meant for those who have time to visit farm all the time, there are some aspects of farming which people with tight schedule, who have no time going to farm, could engage in without their presence in the farm all the time.
For the above and some other farming businesses, you need not worry yourself about weeding, pesticide, insecticide, labourers and yet you will still make a good return of investment from the business.
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