But on a smaller scale, if you only spend $10 thousand on your rice farming business in Nigeria, you can get a 25-30% ROI within 1 ½ years from the time you float your venture. Rice farming is undoubtedly one of the most profitable, and lucrative business ideas in Nigeria.
How much does it cost to start a rice farm in Nigeria?
Starting a small scale or a mini rice farm in Nigeria will cost between Two Hundred Thousand Naira (N200,000) to Five Hundred Thousand Naira (N500,000) depending on the land leasing cost at that particular location.
How much do rice farmers make per acre?
This statistic shows the U.S. states with the highest rice yield per harvested acre from 2014 to 2020. California reported a rice yield of 8,920 pounds per harvested acre in 2020.
Who is the richest rice farmer in Nigeria?
Rotimi Williams: 39-year-old Nigerian who owns 2nd largest rice farm in the country
- – Rotimi Williams is making the country proud as his success in the agricultural sector has always been a reference point.
- – The young man owns the second largest rice farm in Nigeria which is situated in Nasarawa.
How much do you make per acre of rice?
According to the report, the rice yield per harvested acre amounted to approximately to 7,619 pounds in 2020, increasing from 7,507 pounds per acre in 2017.
How do I start a rice farm?
Things we will be looking at are;
- Choose the right land for your rice farming.
- Prepare the land for rice production.
- Choose right varieties of rice to plant.
- Plant your rice at the right time.
- Use appropriate method of planting.
- Apply fertilizer appropriately.
- Control weed in your rice farm.
- Control the pest in your farm.
How profitable is rice farming?
All rice areas achieved positive net returns in 2018, averaging $131 per acre. Consistent positive returns from rice suggest that rice farming is likely to remain viable in the future despite rising costs and only slight expected-price increases.
How much do rice farmers make a year?
The average pay for a Rice Farmer is $28,047 a year and $13 an hour in the United States. The average salary range for a Rice Farmer is between $22,056 and $32,813.
How many pounds of rice can you grow per acre?
On average, each acre will yield over 8,000 pounds of rice!
Who owns the most land in Nigeria?
Many people in the Delta blame their poverty on two federal laws, the 1969 Petroleum Act, which gave the state sole ownership and control of the country’s oil and gas reserves; and the Land Use Act of 1978 which makes the government the owner of all land in Nigeria.