Buhari News Agriculture

September 7, 2018, 7:00 am

 

It has been three years of the President Buhari government in Nigeria and while things haven’t gone as expected, as many of the Buhari news outlets will inform you, there have been great developments in agriculture.

 

We will look at two great leaps that have taken place in the Nigerian agricultural sector and how you can position yourself to take advantage of this economic wave that many of the Buhari news outlets fail to show you.

 

Buhari News

Rice Farming

In the past, Nigeria used to import over 6 million metric tonnes of rice annually, spending over $2 billion. This money was used to develop the agriculture sectors of countries like India, Vietnam, Thailand etc.

 

This is no longer the case as Nigeria has cut her rice import bill by more than 50% and has ramped up local production of rice and other produce (wheat, maize etc.)

Buhari News

The President Buhari government, through the CBN, banned 41 items from accessing Forex from the official window. This move was mercilessly attacked by the Buhari news critics and the economic experts but the President Buhari administration is having the last laugh. There is now increased local production and capacity utilization by manufacturers who now source raw materials locally.

 

The rice farming success in Ebonyi, Kebbi and other states in the north has opened the borehole of private sector capital to flow into the processing sector of the agriculture value chain. Several companies have now setup factories in Nigeria. For example, Wacot Rice Ltd opened a N10 billion rice mill, Dangote has opened a Tomato Paste Factory in Kano and Olam commissioned a N20 billion Livestock Feed and Chicken Hatchery plant in Kaduna.

 

Rice Farming Opportunities

This is Buhari news that you can greatly benefit from in the following possible ways:

  1. Although the Central Bank of Nigeria, CBN, and Bankers’ Committee recently signed off on an agreement to offer single-digit interest rate loans to operators in the agricultural and manufacturing sectors of the economy, you can provide capital to existing farmers at a better interest rate and repayment terms.
    the Central Bank of Nigeria, CBN, and Bankers’ Committee on the agreement to offer single-digit interest rate loans to operators in the agricultural and manufacturing sectors of the economy

    Read more at: https://www.vanguardngr.com/2018/08/cbns-single-digit-interest-on-agric-lending-remarkable-fg/
     
    the Central Bank of Nigeria, CBN, and Bankers’ Committee on the agreement to offer single-digit interest rate loans to operators in the agricultural and manufacturing sectors of the economy

    Read more at: https://www.vanguardngr.com/2018/08/cbns-single-digit-interest-on-agric-lending-remarkable-fg/
    the Central Bank of Nigeria, CBN, and Bankers’ Committee on the agreement to offer single-digit interest rate loans to operators in the agricultural and manufacturing sectors of the economy.

    Read more at: https://www.vanguardngr.com/2018/08/cbns-single-digit-interest-on-agric-lending-remarkable-fg/
    the Central Bank of Nigeria, CBN, and Bankers’ Committee on the agreement to offer single-digit interest rate loans to operators in the agricultural and manufacturing sectors of the economy.

    Read more at: https://www.vanguardngr.com/2018/08/cbns-single-digit-interest-on-agric-lending-remarkable-fg/

    the Central Bank of Nigeria, CBN, and Bankers’ Committee on the agreement to offer single-digit interest rate loans to operators in the agricultural and manufacturing sectors of the economy

    Read more at: https://www.vanguardngr.com/2018/08/cbns-single-digit-interest-on-agric-lending-remarkable-fgProvide capital at a better interest rate and terms to the rice farmers than what the banks are currently giving them. You can do this on your own or by forming a group of agribusiness backers or investors

 

  1. Setup a rice farm to supply the processing plants that are springing up all over Nigeria. Some of these plants have their own rice farms or have supply contracts with local rice farmers. Regardless of their raw material arrangements, they will be open to receiving quality rice from whomever

 

  1. Buy raw rice from rice farmers and process in your micro rice processing plants setup in the major cities of Nigeria. You can do this to supply consumers within your vicinity (see our list of 7 agriculture tools for profitable farming here)

 

  1. Become a supplier of high-quality rice seed hybrids. All the players in the rice farming value chain will desperately need good rice seeds in order to get good final product

 

Fertilizer Production

The Nigerian agriculture revolution that is widely reported in all Buhari news outlets will not be established if there’s no local fertilizer production capability. Crop production is the main thrust of this revolution and without proper soil nutrients, crops can’t thrive.

 

In 2016, President Buhari went to Morocco and signed a deal on phosphate and gas pipelines between the Nigeria and Morocco. Phosphate is a major nutrient that plants require and it is a major component for fertilizer production.

 

On the basis of the Moroccan deal, the President Buhari government working with the Sovereign Wealth Fund has resurrected 11 dead fertilizer blending plants in Nigeria. In the last one year, 50,000 jobs have been created and 1.3 million metric tonnes of fertilizers have been produced.

Buhari News

It is well reported in the Buhari news outlets that the N50billion annual FG fertilizer subsidy is gone and a bag of fertilizer that used to sell for N11, 000 now sells for N5, 500. The President Buhari government no longer pays the N6, 000 subsidies per bag for farmers.

 

Six more dead fertilizer blending plants will come back to life before the end of 2017 and Nigeria will be in a position to start exporting fertilizer.

 

Fertilizer Production Opportunities

This is yet another Buhari news that you can benefit from in the following ways:

  1. Start making contacts in neighboring African countries like Kenya, Tanzania, Uganda etc. to start exporting fertilizers to. There’s a severe drought spreading across much of sub Saharan Africa meaning that the available arable lands need to be well-managed with fertilizers in order to boost food production

 

  1. As fertilizer production booms in Nigeria, there will be many fake and adulterated fertilizers in the market. Product tags and test kits to identify authentic fertilizer products will be needed. You can engage in the business of providing them

 

  1. You can become a major distributor of fertilizers where you buy in bulk from the manufacturers and you do retail sales to local farmers

 

  1. If you have a degree in chemistry (Industrial chemistry, chemical engineering etc.) or you know someone who does, you can use this specialized knowledge to provide inputs and consultations services to the fertilizer industry in Nigeria. You can even research and recommend nutrient blends that will suit Nigerian soils that the fertilizers can be made into.

 

It’s not all doom and gloom in the Buhari news outlets. There are many opportunities available to you in agriculture if you choose to key into the President Buhari Nigerian agriculture revolution.

 

Do you need more ways to profit from President Buhari agriculture revolution? Then check out the top 150 agribusiness ideas for 2018

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