How To Make A Fortune In Rice Farming

By Kayode Oyero

Agric Consultant Yusuff Gbenga Adewale.
Agric Consultant Yusuff Gbenga Adewale.

At a time when recession is biting hard and Nigerians are looking for every possible way to make more money,Nigerians tap wealth from rice farming and get a return on investment (RoI) of up to 120%, in just three to four months upon investment.

As it is called botanically, Oryza Sativa is a daily diet in Nigeria. It is not an understatement that Nigerians arguably have two food staple: rice and others- an average Nigerian eats rice at least once in a day, hence, the demand.

According to Agro Nigeria Online, an agro-based website:

“Nigeria produces3 million tons of rice annually, yet, it is not enough to feed the teeming population that is just few millions shy of two hundred million. Thus, she spends 1 billion Naira on rice importation daily from countries like Thailand, India, China.”

Social economic problems are raw materials for wealth. The signals are clear that rice is an indispensable commodity in Nigeria, and this makes for a feasibly huge market for investors. The mere fact that rice-smuggling is a perpetual occurrence  at the country’s road borders gives a hint that there is a steady market for the commodity.

The government is aware of this. Just this year alone, the Federal Government invested billions of Naira in rice production. In the same development, the Lagos state government in collaboration with the Kebbi state government also followed suit to ensure efficient rice availability for Nigerians. Needless to say, these are pointers to the fact that rice is an indispensable commodity that is in rare supply, unfortunately.


Rice farming is not as capital-intensive as you think. According to an Agric Consultant, Yusuff Gbenga Adewale you can start with as little as N250,000 on an hectare of land and get a 120% return on investment (RoI) in just four months away. That’s a whopping N300,000profit in addition with realizing the initial capital of N250,000.

Adewale, the Chief Executive Officer of Wale Agro Services Limited in Ogbomosho, Oyo state, Nigeria says his company also set-up and manage farms for investors who do not have the knowledge of agriculture but are willing to invest their money – from start to finish at no cost.

“We only collect 20% after-sales profit. That is 20% of the ROI, after farm produce has been sold and the money invested deducted leaving the farm owners with the 80% of the profit and the capital untouched. We also help sell the farm produce and lease hectares of land for people who do not have access to farmlands. Presently, we have 10,000 hectares and every five hectares goes for N50,000for a duration of one full year. You can purchase or lease as much as you can afford to plant on.”

The planting season for rice is between May and June. Rice grows well in swampy areas, lands with moderately high water-holding capacity and thrives in rainy season. This does not mean you cannot do rice farming in dry seasons. There are irrigation set-ups to make the process continuous and around the clock, even in dry season.

Rice is planted and harvested within three to four months but after-harvest process is the main work. These after-harvest processes entail parboiling, milling and drying, all that can be done in just a week, depending on the labour force and work speed.

Unfortunately, in time past,it is through the drying or spreading that white stones habitually known with the Nigerian rice (Ofada) mixes up with the grain. But with painstaking care and with technology, this is now overcome. The proliferation of the destoner, a filterer that takes care of stones, chaffs, weevils,dirt and other unwanted particles in grain produces has made the ‘stone’ challenge a thing of the past.Also is the building of neat, designated threshing and drying floors.

As the economic recession hits hard  day by day –  with  many people losing their jobs consequently – Nigerians can look inward for opportunities in the soil. 120% after a turn-overof three to four months in rice farming is a huge RoI that no financial institution or money-doubling scheme offers anywhere in the world, not even Ponzi schemes or sport-betting.

Billionaires make their wealth in moments of economic distress. Social economic problems are raw materials for wealth. Rice farming is no doubt, a money-spinning venture – for such a time as this.That the demand for rice overwhelms its current supply is a window of opportunity for potential investors– you and I.We can make wealth from the business of feeding the nation from the nation’s soil. Act fast!


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  1. No phone number. Are there ready off takers for the paddy? Is the return on investment of 120 percent calculated based on sales as paddy or after processing?

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