Making extra revenue through investment in agribusiness in the midst of hardship, hike in food and general food insecurity, could be a rewarding experience.
Although, farming season came in earlier in 2024, which made some aspiring farmers returned to farm, thinking the raining season has commenced in full gear, the drought that followed the earlier rain led to destruction of the already planted crops as farmers lost several billions of Naira to this disaster.
In recent weeks, however, there has been series of torrential rainfalls, and according to weather forecasters, the rain could stay till December. Even at that, stakeholders have cautioned farmers.
Raining season, which some people often call wet season, used to be from April to September, marked by heavy rainfall, but such wet season has changed, especially, in the current year, owing to climate change, raising the probability of raining till December, this year.
Speaking with LEADERSHIP, a renowned farmer who is also a lecturer, Dr Innocent Ihenacho Ogbonna warned farmers against planting in heavy rain.
Moreover, Ogbonna explained that, too much raining when it ought to have been harvest time could post harvest destruction.
Investment Capital/ Profitability
According to him, “an investor main spending would be in hiring of plots of land for farming and for acquisition of seeds like cassava sticks for planting.
“Getting and acquisition of arable land is first step. Because of high cost of things nowadays, one may get plots or acres of land with N500,000 depending on the location. Then bring in the seeds for planting, these may also cost much. Then, hiring extra hands for planting and for taking good care of the farm will all depends on the readiness of the investor. But at the end of the day, he/she may realise close to N5million from the yields of the farm.”
He added that, there is likely three more months of heavy rainfall from now on, calling on Nigerians to take advantage of this late rain to farm.
Similarly, the chairman of All Farmers Association of Nigeria, South West, Dr Babafemi Oke advised farmers to take the extra efforts by embracing insurance for their farm which is the best way to secure the products against eventual loss.
Otunba Oke cautioned new farmers that have not gotten the experience from falling prey to the early rain, that, “Farmers should not rush to plant because of early raining fall. Experienced farmers should rather use this period to embark on field preparations but should avoid sowing all seedlings based on the first and second rain fall. An experienced farmers would not use the first or second rain to plant.
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