Wednesday, January 4, 2012

AGRICULTURAL EQUIPMENT LEASING OPPORTUNITY IN NIGERIA

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AGRICULTURAL EQUIPMENT LEASING OPPORTUNITY IN NIGERIA.

Agriculture remains the bedrock of Nigerian economy generating about 70% of employment and constituting over 40% of the Gross Domestic Product {GDP} of the country.

The country has a land area of 98.3m hectares. At present about 34m hectares or 48% are under cultivation leaving a good portion uncultivated. There is no doubt that considering the vast area of uncultivated land coupled with the natural fertility of its soil, Nigeria has great agricultural potentials.

To say then, that Nigeria’s economy is agrarian does not mean that Nigeria is agriculturally advanced. Peasant farming characterizes agricultural practice in Nigeria. Farming families engage in subsistence farming in which family needs determine the scale of production and wherein small plots of land are cultivated by individual owners or sub-owners following age-old methods without much control on the yields. Family farming uses mainly family labor which could be augmented with minor hiring of labor and labor exchanges with other farmers at peak seasons.

The essential factors of production – land, labor, and capital are provided within the family. This system does not make adequate use of modern farming techniques, capital input, advisory services and market information.

The technology of production is not modern and involves a lot of drudgery. Also there is the problem of lack of or inadequate infrastructural facilities. This type of peasant agriculture involves 95% of Nigerian farmers, while farmers employed on corporate and government supported large-scale farms account for only 5 percent.

This situation therefore presents a viable opportunity for savvy investors to take advantage of the opportunity presented by providing agricultural equipment for leasing in Nigeria.

Some of the equipment that can be leased includes

· Tractors
· Processing Equipments
· Storage Facilities

Some of the incentives the government has put in place to encourage investment in the agricultural sector in Nigeria includes

o Finance Credit
o Tax Holdings
o Reduced Customs Charges on Imported Inputs
o Technical Support through Research Institutions
o Export Financing and Guarantee
o Agricultural Insurance Scheme
o Extension Services

To continue reading this article and other investment opportunities in Nigeria, please do click on the link below

AGRICULTURAL EQUIPMENT LEASING OPPORTUNITY IN NIGERIA.

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Our human development training programmes are designed to assist our client set-up their respective business on a sound footing.

The training cuts across different segment of the economy to include Agriculture, Export and Import, Food and Beverage, Manufacturing, Mining and Quarry, Oil and Gas, Retail Industry, Telecommunication, Tourism and Transportation and are facilitated by seasoned professionals in their respective fields.

Please do visit the link below to access available training programmes

Foraminifera Market Research is a dynamic market intelligence company providing comprehensive market research solutions and strategic intelligence services to start-ups and existing businesses in Nigeria.

We prepare business plan, feasibility study and market report for the small and medium scale industries and develop the entrepreneurial capacity of our client with the aim of providing the much needed business data in Nigeria.

In keeping with our vision of providing services that adds value to our clients business and resources to develop their business into a strong and visible global brand, we would like to introduce to you to our sister websites

www.nigeriaoilandgasportal.com {The one stop for the oil and gas industry in Nigeria}
www.marketreportportal.com {Marketing and Sales of Market Intelligence Report}
www.nigeriabusinessplace.com {Online Business Forum}