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MSME
Top 10 lucrative livestock businesses in Nigeria
The year 2018 is opening up with a lot of business opportunities no one should miss. The agricultural sector especially holds great promises for businesses. Why agriculture? We are humans born with the basic need to feed. Our food happens to be crops or livestock; components of agriculture. To top it off Nigeria is blessed with spacious and fertile land for all kinds of farming; livestock farming or crop farming.
People tend to turn their back on agriculture because at one point it was seen as a menial job meant for the poor. That is apparently no more the case as we can see in the lives of former Nigerian president, Olusegun Obasanjo and business magnate, Alhaji Atiku Dangote.
If you’ve decided to venture into life stock farming for the 2018 business year, below is a list of the most lucrative ones you should consider.
Poultry
Despite the many scares that poultry farming has received (chicken flu), poultry products still happen to remain one of the most demanded livestock product. even better, the sudden need for people to cut down on calories have given rise to more consumption on poultry products since a lot of weight watchers have switched to high protein diets (ketogenic lifestyle).
Poultry farming extends to rearing of chicken, turkey, quail, guinea fowl, and the production of eggs, feeds and such. The business does not require much in terms of capital (depending on what scale you choose to run) and the returns are huge. Additionally, it doesn’t take long to start getting returns since reproduction and growth rate is rapid.
Cattle
Cattle farming although capital and labor intensive, is very profitable. You could go into cattle breeding, dairy farming, fertilizer production, leather production and of course, beef production. The possibilities are limitless. The major challenge for this line of business remains land and resources.
Fish
The market for fish in Nigeria right now is incredibly high. This is an ample opportunity to make money. Fish farming (whether salt water fish or fresh water fish) is not capital intensive and like poultry farming does not take long to yield profit as growth and reproduction rate is also high.
Goat
Goat farming is yet another livestock business you could explore. It would be even more lucrative if you’re in the south or east as these areas still depend hugely on northerners for goat meat and other products.
Snail
Snail farming is yet another business that has become even more lucrative due to the sudden weight loss craze that seems to have overtaken the country. People now opt for white meat instead of red hence the huge market opening for snail farming. An added advantage is that it requires little space as well as little capital for startup.
Sheep
If patience isn’t one of your strong points, I’d advice against going into sheep farming as it requires a lot of patience and solid knowledge about sheep and its cycles to succeed. It however, is a lucrative and profitable business.
Piggery
Aside the capital and labour intensive nature of running a piggery, a lot of people would prefer not to based on their religion or simply disgust for the creature; pig. If you look beyond all that, you could make it big in piggery since there’s very little competition.
Rabbit
Rearing rabbits requires little space and can be set up everywhere. It also requires little in the way of capital but garners much profit.
Shrimp and 10) Crab
This is one area of livestock farming that has fewer people in production than the market demand. Venturing into these businesses could prove to be successful and lucrative,
Livestock farming is producing millionaires everyday even while you’re considering which area to venture into. Make up your mind real quick and reap the benefits.
Business
The FG in partnership with the private sector will continue to support MSMEs – Osinbajo
Osinbajo has stated that the FG in partnership with the private sector would continue to provide interventions to boost the growth of small businesses.
Nigeria’s Vice-president Prof. Yemi Osinbajo during an MSME stakeholders’ meeting, disclosed that the Federal Government in partnership with the private sector would continue to provide interventions to boost the growth of small businesses across the country.
According to a press statement issued by Laolu Akande, the VP made this statement on Monday at the first meeting of MSMEs stakeholders for the year 2021.
Prof. Osinbajo said the Government would continue to support innovation and interventions to deepen the involvement of new and existing MSMEs in the nation, this he said would help to improve the economy and create more employment opportunities for Nigerians.
He stressed further that the implementation of the Economic Sustainability Plan Survival Funds has sent positive economic signals. In a bid to complement the gains in this space, the Government needs to scale up interventions in the MSMEs sector.
In this vein, Osinbajo urged stakeholders in the public and private sectors at the virtual meeting to be innovative in the interventions planned for small businesses across the country, so as to consolidate on the gains recorded in the MSMEs space in the past few years.
What they are saying
Prof. Yemi Osinbajo, during the MSME stakeholders’ meeting, said:
“We must continue to be innovative in the interventions that we plan for MSMEs because small businesses are the engines of growth of any economy, in the areas of wealth creation and employment opportunities, MSMEs are very important.”
Continuing, Prof. Osinbajo said:
“We really have to think out of the box in our engagements going forward. We need to change the way we do many things, we need to look for ways of multiplying our efforts because the challenges in this space are greater than what we have been able to achieve so far. Of course, we have done a lot, but looking at the numbers in need, you will find out that there is a lot more to be done.”
What you should know
- The Federal Government’s MSMEs Survival Fund grant scheme, which includes Payroll Support, Artisans and Transport support tracks, is a component under the Nigerian Economic Sustainability Plan, NESP.
- The Survival Fund scheme was designed to cushion the economic effects of the COVID-19 pandemic especially on the most vulnerable small businesses, is a conditional grant to support vulnerable MSMEs in meeting their payroll obligations and safeguard jobs in the MSMEs sector.
- The scheme is estimated to save not less than 1.3 million jobs across the country. However, 283,023 Nigerians employed by MSMEs across the country have benefited from the Payroll Support Scheme. This leaves millions of Nigerians out of the consideration of the scheme.
MSME
283,023 Nigerians employed by MSMEs have benefited from FG Payroll Support Scheme
The FG has revealed that over 200,000 persons have so far benefited from its Payroll Support Program.
MSME
FG warns applicants of N75 billion MSME Fund against fraudulent websites
FG warned unsuspecting members of the public to beware of fraudulent websites demanding account details.
The Federal Government has warned unsuspecting members of the public, who wish to apply for the MSME Survival Fund, to beware of fraudulent websites demanding account details, before giving applicants N50,000.
According to Punch, the disclosure is contained in a press statement that was issued in Calabar by the Project Delivery Office (the Coordinating office of the scheme) under the Federal Ministry of Industry, Trade and Investment, and titled ‘Portal requesting for beneficiaries account details to get N50, 000 not known to us.’
READ: CBN reacts to videos, pictures of new N2,000 and N5,000 in circulation
The PDO is coordinated by the SA to the President on MSMEs, Office of the Vice President, Tola Johnson.
What the Trade, Industry and Investment Ministry is saying
The Ministry, in its statement said, “Our attention has been drawn to the activities of fraudsters parading themselves as operators of the Federal Government’s Survival Fund Scheme.
“The syndicate operating a fraudulent portal with the link https://survivalfund-gov-ng.freefunds.xyz/#1609249530133(https://bit.ly/FG-survival-fund) are asking unsuspecting members of the public to check their eligibility for the scheme by providing their account details on the portal in order to be paid N50, 000 grant under the Survival Fund Scheme.
READ: How to access FG’s new grant for Bus, Uber, Bolt drivers, cart pushers
“It is pertinent to note that the Project Delivery Office (the coordinating office of the scheme) does not operate any such portal and beneficiaries do not require to go to the website to verify their eligibility for the federal government’s Survival Fund as indicated on the fraudulent portal.
“The website requesting beneficiaries account details is, therefore, a scam. The PDO does not operate any such portal and wishes to advise all Nigerians and beneficiaries of the different tracks of the survival fund to be wary and desist from having dealings with the operators of the site.”
READ: CBN raises alarm over fake tweet posts on N50 billion COVID-19 fund
The Ministry pointed out that the authentic survival fund portal remained www.survivalfund.gov.ng and the PDO would always inform members of the public on updates about the scheme whenever it was necessary.
What you should know
The MSME Survival Fund, which is part of the N2.3tn stimulus package of the Nigeria Economic Sustainability Plan, was introduced by the Federal Government as part of efforts to help businesses overcome challenges posed by the Covid-19 pandemic.
READ: SEC to refund victims of ponzi scheme, Dantata Success and Profitable Company
The MSMEs Survival Fund scheme is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard jobs in the MSMEs sector. The scheme is expected to save at least 1.3 million jobs across the country and specifically impact on over 35,000 individuals per state.
READ: Germany’s 18th Century old bank begins a Bitcoin, Stellar, Ethereum Fund
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January 13, 2021 at 2:55 pm
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