Livestock is a term used to describe any domesticated animal raised in an agricultural setting to produce commodities such as food, fiber, and labor. Livestock is generally raised for profit. Raising animals (animal husbandry) is a component of modern agriculture. It has been practiced in many cultures since the transition to farming from hunter-gather lifestyles.

Livestock production in Nigeria was dominated by nomadic pastoralism long before the advent of the British Colonial Administration. It accounts for one-third of Nigeria’s agricultural GDP, providing income, employment, food, farm energy, manure, fuel, and transport.[i] They are also a major source of government revenue.

It has been argued that livestock, especially ruminants, are the most efficient user of uncultivated land and contribute evidently to crop production. Efficient crop-livestock integration systems have the tendency of allowing nutrients to be recycled more effectively on the farm thereby enhancing crops’ yield. In such a system, livestock can be fed on crop residues, like straw, fruits, and grains, as well as other products that would have otherwise been disposed of.[ii]

Traditional livestock production is varied and complex in nature. It has evolved over centuries of adaptation under prevailing conditions of harsh climate and severe disease challenges.

(To read about livestock farming from a farmer’s perspective click here

The Economic Importance of Livestock Production

The economic importance of livestock includes, but is not limited to;

• Meat
• Dairy products
• Fiber
• Fertilizer
• Labour
• Land management

Classification of Livestock

The various animals that fall under the category of livestock are listed below. By clicking on each animal you are directed to detailed information on the production process for each animal;

  Cattle

  Sheep

  Goat

  Pig

  Rabbit

 Snail

 Grasscutter

 Turkey and Poultry

 

Top 5 most profitable livestock farming businesses 2022

The following list of the 10 most profitable livestock farming business ideas which can be of guide to you before starting your own business,

Poultry Farming

Despite the numerous crises that poultry farming has experienced (such as the outbreak of chicken flu), poultry products continue to be one of the most in-demand livestock products. Even better, the sudden necessity for people to reduce their calorie intake has resulted in an increase in the consumption of poultry products, as many weight watchers have moved to high protein diets as a result of the abrupt calorie reduction (ketogenic lifestyle).

Poultry farming includes the raising of chickens, turkeys, quail, guinea fowl, and other poultry, as well as the production of eggs, feed, and other products. The business does not necessitate a significant investment of capital (depending on the scale at which it is operated), and the profits are enormous. Furthermore, due to the rapidity with which reproduction and growth occur, it does not take long before profits are realized.

Fish Farming

When it comes to fish farming in Nigeria, the current market conditions are extremely favorable. This presents a significant potential to profit. Unlike poultry farming, fish farming (whether of salt water or fresh water fish) does not require a large amount of money and produces profits quickly because the growth and reproduction rates of fish are both quite high.

Fish farming is a profitable business for people who live in areas with a large number of bodies of water in their immediate vicinity. On the other hand, you can also raise fish in the tanks. Fish such as carp (of many varieties), catfish (of various varieties), prawns, salmon, and shrimp are extremely popular around the world. When launching a fish farming business, it is critical to do a market assessment in order to evaluate the level of demand in the area. Additionally, the practice of ornamental fish rearing is becoming increasingly popular these days. Click here to read about some fish farmers and also check out our farmer profiles for more inspiration  

Goat Farming

Goat farming is another livestock enterprise that you could consider starting. It would be even more profitable if you were located in the southern or eastern regions of the country, as these regions still rely heavily on northerners for goat meat and other products.

Grooming goats under the intensive and semi-intensive systems for commercial production has gained popularity in recent years, owing to the favorable economic prospects it provides. The business generates a healthy profit. Additionally, the emergence of favorable market conditions, as well as the ease with which better goat technology may be obtained, are attracting the attention of entrepreneurs.

Cattle Farming

Cattle farming, despite the fact that it is a capital and labor-intensive business, is extremely profitable. Cattle breeding, dairy production, fertilizer manufacturing, leather manufacture, and, of course, beef production are all possible career paths for you. Imagination is the only limit to the possibilities.

Cattle farming for milk and cattle farming for meat, on the other hand, are two wholly distinct things. It is necessary to select the most appropriate hybrid variety for a certain purpose. Furthermore, you must continue to use the proper farming techniques. The most significant barrier for this line of business continues to be land and resources.

Snail farming

Snail farming is another business that has grown in popularity as a result of the unexpected weight-loss trend that has swept the country. People increasingly prefer white meat to red meat, which has created a tremendous market for snail farming. It also has the advantage of requiring little room and cost to get started.

It’s also a low-cost livestock company that you may start from your own house. Snails prefer a moist environment. During the dry season, they go dormant. You’ll also need to start your snail farm with the appropriate species. In general, the larger giant snails bring in more money than the smaller ones.

REFERENCE

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