10 Lucrative Livestock Business To Start in 2024

The year 2024 presents a plethora of business opportunities that no one should overlook. The agricultural industry, in particular, provides a lot of potential for enterprises. What is the purpose of agriculture? Humans are born with a basic urge to eat. Crops or cattle, both of which are agricultural products, provide us with our food. To top it off, Nigeria is endowed with vast swaths of fertile territory suitable for livestock and crop growing.

People have a negative perception of agriculture since it was once thought to be a low-wage vocation reserved for the poor. However recent evidence has shown a growing interest in the ultra-rich in agriculture, and this is not likely to change in the years 2024 and beyond.

If you’ve decided to start living stock farming for the 2024 business year, here’s a list of the most profitable ones to look into.

1. Fish

Nigeria’s seafood market is currently at an all-time high. This is a fantastic way to make money. Fish farming (whether saltwater or freshwater fish) requires little capital and, like poultry farming, yields profits quickly due to strong growth and reproduction rates.

2. Poultry

Despite the numerous scares that poultry farming has faced, including chicken flu, poultry products are still one of the most popular livestock products. Even better, because many Weight-Watchers have moved to high-protein diets, the sudden necessity for people to cut calories has resulted in increased consumption of poultry products.

3. Snail

Snail farming is another industry that has grown in popularity as a result of the unexpected weight-loss obsession that has swept the country. People increasingly prefer white meat to red meat, which has created a tremendous market for snail farming. It also has the advantage of requiring little room and a low cost to get started.

4. Cattle

Cattle farming, despite its high capital and labour costs, is a tremendously profitable business. Cattle breeding, dairy farming, fertiliser production, leather manufacture, and, of course, meat production are all possibilities. There are no limits to what you can do. Land and resources remain the most significant challenges for this line of business.

5. Goat

You could also consider goat farming as a viable livestock option. It would be even more profitable if you lived in the south or east, as these regions still rely heavily on northerners for goat meat and other products.

6. Piggery

Aside from the financial and labor-hard nature of running a piggery, many people would prefer not to for religious reasons or plain hatred for the animal, a pig. If you look past all of that, you might be able to make a fortune on a pig farm due to the lack of competition.

7. Rabbit

In Nigeria, rabbit farming is a lucrative business. Rabbit farming is less expensive than other animal products, including poultry production, at the breeding stage. As a result, there is usually more profit once it has been sold.

8. Grasscutter

Grasscutter farming is claimed to be a highly profitable animal farming enterprise because it is simple to establish and manage. It’s also one of Nigeria’s most lucrative animal production businesses.

Related Post: Start your own lucrative Grasscutter farming with a standard Grasscutter business plan

Grasscutter meat is eaten in almost every section of the country; therefore, your product will find a ready market.

9 Sheep Farming

In Nigeria, sheep farming is a lucrative business, and if you follow the best procedure, you will likely start making it in up to 6 months. An adequate knowledge of the industry is very important, as it will help to cut losses and when it comes to sheep farming, there are male and female breeds.

In Nigeria, the male sheep breed is always in high demand especially during festive periods like the Salah because this is when people buy them for celebration.

10. Crab Farming

Crabs are becoming popular in Nigeria and they can be used in preparing many delicacies in terms of commercial production, it is easy to start and requires little capital and labor cost.

It requires between 5 to 6 months for it to be ready for harvest.

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