Profitability of poultry farming in Nigeria
How profitable is poultry farming in Nigeria?You have probably heard a lot of things about poultry farming and its profitability in Nigeria. However, not everyone knows where to start, and how to profit from poultry farming. Potentially, it can make you earn a huge amount of money, and make you wealthy, if you put enough effort into it and know how to execute this business in the right way. Poultry farming is considered to be one of the most common farming businesses, and it has a lot of potential for earning the profit. People say that young children and teenagers that are growing need to eat at least one egg per day to stay healthy. And as for adults, they need at least ten eggs per weak. Another thing that is provided by poultry business is chicken meat, which is loved and consumed by many people. That is why the products made at the poultry farms are very popular and in demand. First of all, we will find out what does a person need to start their own farm. We will also analyze the cost of starting a poultry farm in Nigeria, along with all the expenses that can go on different aspects of farming. Finally, you will get to know about the poultry farming profit and make your decision about starting the farm. Are you ready? Well, we should not wait anymore.
Poultry farming in Nigeria and its profitability: all that you need to knowTo start with your farming, you should know that usually in the poultry business there are three breeds of birds, which are Layers, Cockerels, and Broilers. There are some differences between them. Broilers grow very fast – in about twelve weeks after the hatch, they are ready for selling. The advantage of Layers is that they are very lucrative – they lay eggs and can be sold for the meat at a very good price. Cockerels, however, are more reliable, when it comes to survival and enduring the bad weather. This breed is more resilient to the shocking situations, in comparison to the Broilers and Layers. You probably already know that poultry farming is capital intensive and requires plenty of effort, but the money that you will earn will make up for it in the end. It is especially expensive if you want to start your business on a higher scale. Before you start your business ventures in poultry farming, the first thing you need to do is to properly calculate all the costs. There is a very high chance that if you invest in farming, you will gain profit soon. Mostly this is because Nigeria still has to import poultry from abroad countries since there are not enough local farms to produce enough chicken for more than 190 million Nigerians. But if you plan everything in a smart and thoughtful way, there is a possibility of gaining from it. Here is what you need to do first:
Acquire the land in a comfortable location.
Building a chicken house for the birds.
Purchase the healthy chicks that are one day old.
Get the water troughs, feeds, and feeders.
Vaccinate your chickens.
Remember about the light.
These are probably the most important things you need to remember about poultry farming. Speaking of profitability, you should know that it usually increases during the peak seasons, by which we mean the period of festivities. These are major holidays like Christmas, New Year’s Day, Easter, and other festive days. During these, the demand for poultry naturally increases. The broilers are usually demanded for meat, and the demand on eggs also enhances because many people use them for making snacks. You will have to remember that during these festivities, there is the highest chance to earn some profit, so you should pay special attention to the health and well-being of your birds.
How much will it cost to start a poultry farm in Nigeria?Now, how much will it cost to start a poultry farm in Nigeria? We have consulted the website profitableventure.com, and found out some prices on the most essential parts of your farm. Of course, these prices are estimated, but we will list some of them for you now, for you to have some understanding of how much it will cost you.
- Land – as we have already mentioned, the land price varies depending on the state and proximity to the big cities. But it is quite possible to get a nice piece of farmland in Nigeria, which costs approximately $3,500-$5,000 and even cheaper. All you need is to search and negotiate.
- Construction – by this we mean building the cage for the birds. It usually depends on the size of your poultry farm, but in Nigeria, the average price for a good poultry house would probably be $2,000. Also, you should consider some additional building, like the storage where you will keep all the equipment and the farmhouse for those who work at your farm.
- Chicks – we already talked about how to choose the chicks that would potentially bring you financial profit. Usually, the chicks that are one day old are very cheap, and it is possible to get 24 chicks for about $1,5-$2. Basically, if you need 200 birds, you can get them for approximately $16. However, you will need to be very careful with taking care of these chicks, because they are still very small and could die.
- Poultry equipment – this also depends on which size you want your poultry farm to be, and what would be the nature of your business. Hatchery equipment would be good if you want to hatch chicks and sell them. And in case you want to process meat and sell it, you will need special equipment. Either way, you need to have at least $2,000 in your budget for this aspect.
- Vaccination – since we have already mentioned earlier how essential is to vaccinate your birds to watch them grow healthy and give you profit, you will also need to have some money in your budget for this procedure. The cost will include the price of medical supplies and the assistant that will give the attention to your birds. The estimated price for vaccinating 200 birds would be around $500.
- Feeding – this is probably the most significant expense because the amount and the quality of feeds that you give to your birds will later influence their health and productivity. The poultry feeds will vary depending on the stage in bird’s life. For little chicks, there are growing feeds to stimulate their strength, and then there are the finishers to maintain their health when they are closer to the stage of selling. For 200 chicks, the optimal budget would probably be $700. Remember about giving them high-quality feeds, because saving too much is not acceptable here. If you want to cut down on the expenses of feeds, you can try producing poultry feeds of your own. It might not seem so at first, but in the long run, it will save you quite a lot of finances.
- Labor cost – if your poultry farm is commercial, sooner or later you will find out that it is difficult for you to perform all the tasks on your own. You might consider employing more people who would assist you. Their salary will depend on the labor rates in Nigeria, so you should research them and then make a budget for paying your employees.
- Other expenses – there will always be some other expenses, for instance, advertising, insurance, electricity, security, and transportation, as well as distribution and selling. So make sure to cover those things in your budget.