Are you planning to begin a commercial maize farm in Nigeria? If your answer to this question is yes then you need a business plan for commercial maize farming in Nigeria. There are so many reasons why you need a business plan.
Maize farming is very easy and is one of the most lucrative agribusinesses you can engage in today in Nigeria. The only challenge that may arise is the lack of experience and technical know-how.
In this post, we will show you what a maize production business plan pdf should contain. You will also see why you need a business plan for commercial maize farming in Nigeria. Finally, we will tell you how much getting a done for your business plan costs.
An Overview of Commercial Maize Farming in Nigeria
Without an iota of doubt, maize farming is one of the high-paying forms of agriculture in Nigeria. Nigerians have engaged in maize farming for decades and it has been sold in the local market as well as the international market.
Maize is also known as corn and it is one of the staple foods in Africa. It can be cooked and eaten in several ways, either as a main dish or as an accompaniment. Currently, Nigeria sits on top of the list of maize producers in Africa producing over 8 million tons yearly.
The great thing with maize is that it can be grown almost anywhere. As a matter of fact, maize can grow anywhere in Nigeria and with the right irrigation techniques, can be grown all year round.
As much as there is so much good talk about maize, there are also pitfalls. This is why you need a feasibility report on maize production and a maize production business plan pdf. With these, you will be able to run your business without the stress and avoid unnecessary hassles.
Here is the simple truth about maize in Nigeria, even though we are producing so much, there is still a huge demand. In case you are asking if this business is lucrative, that’s your answer.
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Is the Maize Farming Business Profitable in Nigeria?
We begin this question by asking, how many people live on Nigerian soil? As it stands, we are about 200 million, and there is a possibility it is higher than that. Population statistics reveal that we should be clocking 250 million Nigerians by the year 2050.
What does this imply? There is a need for more food production. Almost every tribe in Nigeria has at least one food that is produced from maize. How can they eat these foods if we do not have sufficient maize to go round?
When you consider the population and the existing need for maize in Nigeria, you can guess that it is a highly profitable business. There is so much opportunity in the sector especially with current government policies that are favorable to agriculture and agricultural practices.
Advantages of Maize Farming in Nigeria
There are so many advantages to maize farming. Did you know that maize has several uses asides being consumed as food? Yes, you can use maize as a raw material in the production of several other consumables.
Another thing maize can be used for is biofuel. This post will not focus much on this since we want to help with your business plan for commercial maize farming in Nigeria.
The advantages of maize farming in Nigeria are summarized below:
- It provides a way of escape against food insecurity.
- Produces lots of profit.
- It can be used to produce animal feed.
- The major raw material for most food production industries.
- A source of biofuel.
- It is easy to cultivate and it has a short turnover period.
Things to Consider When Starting a Maize Farm in Nigeria
Just like every other business, there are certain factors you should consider before you start your maize farm in Nigeria. You need to sort these out before you write your maize production business plan pdf.
Let us take a look at some of the important factors you should consider.
- Soil and climatic requirements – This is about the most important factor you have to consider. If the soil and climate do not meet that required for maize farming, you will have very poor yield. Generally, you need sandy loam with a pH of between 6 and 7. You also need between 75 cm and 150 cm of annual rainfall and 26oC and 30oC of temperature.
- Farmland – Luckily, Nigeria has a lot of lands that can be used for farming. You need to get one that meets the requirements above and is easily accessible. It shouldn’t be too far from the market as well.
- Maize varieties – There are different varieties of corn and it is wise to find out the one that fits your location best. You can visit an agricultural institute closest to you for advice regarding the maize cultivar to use on your farm.
- Farm practices – You need to decide whether you will be handling the farm practices which include soil preparation, planting, weeding, harvesting, etc. by yourself. It is always best to employ laborers to do the job if you are going into large scale farming.
- Market – When you cultivate the maize, you wouldn’t be consuming it yourself, you need buyers. You must find out how to sell before you begin to produce. Your best bet is getting industries that make use of maize for their production.
- Capital – We cannot discuss factors without talking about the capital. Without the capital, maize farming will remain an idea. There are several ways of raising capital. Your business plan for commercial maize farming in Nigeria will be instrumental in getting the needed capital.
Contents of the Maize Farming Business Plan
You already know a lot about commercial maize farming in Nigeria. What you need right now is a maize production business plan pdf. In this section, we will take a brief look at the contents of our business plan for commercial maize farming in Nigeria.
- Table of contents – This section shows the reader where every other aspect of the business plan can be found. It is a map that guides the reader through the rest of the business plan. When you have this, it shows that you are organized.
- Executive summary – Though this part of the business plan is written last, it comes in after the table of contents. It is a summary of the business plan and gives the reader a foretaste of how juicy your business plan is.
- Company overview – You need to provide important information about your company to the reader. This is very important if you are seeking investors or a loan from the bank. If they don’t have an idea about who you are, they will find it difficult to invest. Some of the pieces of information in this section include:
- Mission statement
- Vision statement
- Current status
- Success strategies.
- Product overview – Here you discuss what your product is like. Be careful not to provide extensive information about the product. The idea is to keep the juicy details about your product to yourself while selling the general idea.
- Market and Industry analysis – This is a show-off section where you display to the reader how much you know about the industry and existing market. It contains the following:
- Market analysis
- Industry analysis
- SWOT analysis
- Competitor analysis, etc.
- Marketing strategy – This section of your business plan discusses how you hope to penetrate the market with your new product. To this end, you will discuss:
- Target market
- Advertising strategy
- Value proposition
- Channels of distribution and communication, etc.
- Operation strategy – When you mention operations, what comes to mind is how the business is run on a daily basis. Some of the key items of discussion include operations strategy, the scope of operations, and the cost of operation.
- Management – Who leads your company determines how well your company will thrive. Leadership is the basis on which success is found. Here you describe the different leadership positions in your company and the required qualifications.
- Financials – Here you put forward all your financial predictions and estimates. Some of the items to present include income and expenditure statement, profit analysis, breakeven point, existing balance sheets, etc.
- Appendices – In this section, you place all the different tables, graphs, and calculations that you should have placed in the body of the plan.
How Much Does the Plan Cost?
Generally, a business plan for commercial maize farming in Nigeria should cost a fortune. However, we understand the situation of the economy and have decided to present you with a sample at an affordable price. If you would like a custom-written plan, then it will cost a little more so you can reach us for further discussions.
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In this post, you have learned about commercial maize farming in Nigeria. You have also seen an overview of the contents of a business plan for commercial maize farming in Nigeria. What are your thoughts?Kindly Like my Page