Groundnut Farming Business Plan in Nigeria 2020. How to Start

How to Start Groundnut farm Business in Nigeria.

Groundnut Farming Business Plan in Nigeria – Our sample Fruit Juice Business Plan in Nigeria can be used to access bank loans, proposal writing and grant applications. The business plan was complied after a thorough feasibility study on Fruit Juice Business in Nigeria was done.

Groundnut Farming Business Plan in Nigeria

There are several ways of making money in Nigeria. Everyone don’t have to be a filling station owner before he or she cam be termed rich. Not everyone too have to establish a poultry farm too. Some persons have to diversify into other sectors too. Trust me, you haven’t seen anything like venturing into other sectors and making millions.

You can also Read >>> Plantain Farming Business Plan In Nigeria 2020

Some of the richest entrepreneurs we have today are into some silent Business unknown to you. And we will be discussing some of them right away. And that one particularly centers around groundnut business in Nigeria. You can take your time to go through our Groundnut oil Business plan in Nigeria and i tell you, this will blow your mind.

Now let’s move on to our subject matter for this article. We have different nuts in Nigeria and many of them are business driven but do you know what I think? Groundnuts falls among the top business-driven products if not even the number among them. Many research have been carried out and trust me, this product and commodity does not have a better season of better sales than other seasons. It is never affected by market Dynamics. It’s high level of demand are always there even during summer or winter.

Groundnut Business is one of the under estimated Business in Nigeria that can generate you lots of money. So if you are interested in going into this business then you are in for something big. There are so many Businesses you can do with groundnuts and that includes the likes of groundnut oil Business.

We will be discussing the groundnut farming business plan in Nigeria. There are some few questions we need to answer as we move on in this topic. Some of these questions are

What is groundnut farming business?

How can you make money from this aspect of groundnut business? Is there a market for this niche of groundnut farming business in Nigeria?

If you enter groundnut business in Nigeria, would you make profit?

These questions and more will be answered as we proceed. But this business in time past was what crude oil is to us now. What I will be discussing here is a bit of indepth analysis on Groundnut farm Business plan in Nigeria. But this won’t be enough to get you started even though it’s gonna be a very lengthy piece of genus work. So I will advise that you proceed to buy our Groundnut farm Business plan that was recently updated and have the full financial analysis, full financial projection, executive summary etc.

To place an order for our Groundnut farming Business Plan in Nigeria & Feasibility Study, pay N10,000 to

GTBANK (Guaranty Trust Bank)
Account Name – Ogumka Innocent
Account No – 0153723721

After you have made payment for your Groundnut farming Business Plan in Nigeria & Feasibility Study, send your email and payment details to 09066078526. Once your payment has been verified the Groundnut farming Business Plan will be sent to your email.

A Background Information on Groundnut Business in Nigeria: let’s discuss the Potentials For Investors in this line of business.

You can get a 100kg of groundnut as at today in Nigeria for about N110,000. This price is the latest price figure. And if this is true, then you probably are seeing what am talking about regarding it’s profitability in Nigeria.

The impact of groundnut to human cannot be over emphasize. They are in rich in protein and other consumable oil. Before now, this farm Business was only meant for those in the village but today the Tide have changed and we have seen young and vibrant youth have engaged themselves in this business which for me is a novel idea. We have seen many people who engaged themselves in this farm Business become financially rich. And we will be discussing how you can make that a possibility. Just read on.

Is groundnut farming profitable?

Groundnut farming in Nigeria is a very lucrative business which have turned many from the shackles of poverty into riches. Groundnut as a crop is a commodity that has an economic value in our society. As a business man, groundnut farming business can be a source of employment for many. Groundnut also can be eating either as browned, cooked or boiled. From groundnut you get groundnut oil, groundnut cake, it also serves as feed for animals, and it can be sold and money made from it are quite huge.

How long do groundnuts take to grow?

Groundnut usually take about three to four months to develop. Let me explain.

Unlike some other plants, the groundnut plant flowers are usually above the ground while the fruits grows below the ground. Then From it’s time of planting to the harvesting period, it takes about 4 to 5 months, depending on the type and variety. Some do take just three to four months to grow.

One of the advantage of groundnut farmers is that groundnut can grow two times in a cultivation season. This is unlike most other nuts and other plants. We will be discussing the very well-ordered procedure of groundnut production in Nigeria.

The most effective method to Make Money Farming Groundnut

Though the process for groundnut production is quite a simple one and yet equally as gainful too. What should make the difference in groundnut farm Business is the knowledge. Just knowing when to plant and how to plant groundnut and how to plant it can be the game changer.

You want to grow Groundnut perfectly well, then do it in a well-drained sandy loam or sandy clay loam soil. Let it be deep well drained soil that has a pH of 6.5-7.0 and a very high fertility. This is the kind of soil that is ideal for groundnut planting. To get a good germination of groundnut an optimum soil temperature 30°C will be needed. Before you decide to plant groundnut into any soil, then there must be a proper test that must be done before.

1. Bush/farm Clearing: Before you begin to plant groundnut, you have to clear the site first, as you would have done for any other crops as well.

2. Acquire Groundnut Seeds depending on the size of farm:

For those who don’t have their own seedings, they can buy from people who sells them. It can be bought from anywhere. It can be bought from Dealers, markets etc. There is no fix amount of seeds you are to buy. You buy based on the size of your farmland. While planting, give around 30cm space for each seed from each other. This is the ideal spacing for groundnut spacing.

How many bags of groundnuts make an acre?

An acre produces between 3-8 bag sand of groundnut and it should take about three months to harvest it. Majority of experts most times prefer the Manipinta specie because of it’s large size. It is preferred because of the high yields you can get from it during harvest. With this analysis, an acre of groundnut can produce up to 12 bags of groundnut during Harvest. This means more income and profits.

For those who bought more than they needed can can in any case boil/broil/sear and eat or better make some oil for your kitchen require. There is no need using a huge groundnut oil expeller that can make you huge groundnut oil. You can make use some home techniques to make your own groundnut oil.

3. Work on the Soil:

In some crop planting, you mold then while Planting them. E.g potato plant. But in planting groundnut, you have to till the ground. Ensure you clear every grass that will hinder the growth of your groundnut crop. Tidy the environment of your farm for super harvesting.

Which fertilizer is best for groundnut?

Experts have suggested that groundnut been a P source, single superphosphate likely be the most suitable fertilizer meant for groundnuts in the Nigeria. Especially in Nigeria’s Savannah. But also note that it presently contains S and partly because of its solubility. Be very careful that nitrogen fertilizer application will tend to depress pod and kernel yield although it enhances haulm production.

4. Planting the Seeds:

During March, it is most advisable to plant groundnut during this season. There should be around 3 to 4 precipitation or abundant rainfall on the land you have worked on to get a better planting session.

It will be very advisable to give a space of no less than 25cm for each planted seed. This will help in making for a great yield. During the groundnut planting season, you can also plant other crops like guinea corn.
For those who wants to include guinea corn in their groundnut farmland, continue reading through to step 5 of this article. But if you won’t be including crops like guinea corn, then navigate to step 6.

5. Including Guinea Corn:

If you have decided to add guinea corn with your groundnut farm, then you should first of all, you are expected to spread the guinea corn on the part you need to plant groundnut. The reason for this is because when you start opening of the soil to plant your groundnut, the sands soil will be dugged out and it will be used to cover the guinea corn seeds.

6. Weeding and Manure:

The very same method of weeding and adding manure to your groundnut farm is same as what you do with your potato farm. You are gonna weed your groundnut farm twice before harvesting is done.

7. Gathering:

If you do planting of your groundnut during March, them expect your harvesting during June/July. It takes just around three to four months for groundnut to develop and get ready for harvest.

8. Capacity and Sales:

When you are done harvesting your farm produce, then you have some alternatives to sell. You either dry them and store for future purpose and then sell much later. You can decide to turn it into groundnut oil and sell as such. While producing groundnut oil, there is a groundnut cake that comes out which is so good to for animal feeds or sell to farmers who rear animals.

9. Planting for the Second Time:

We have discussed earlier on that you can plant groundnut twice in a cultivating season. This time, the planting of groundnut should commence in the month of August and harvest will take place by December. Planting twice will work far better and really better in a swampy environment. I am talking about a place where water grows comes out of the soil.
If you live in an environment where it’s so dry, then going for a second planting season will be very difficult and you may not be able to have a smooth harvest.

10. Analysis of farm Expenditure and Profit Estimates.

Let’s just draw an example of the very cost of cultivating a groundnut plot of land in Nigeria.

Hypothetical Farm Expenditure Overview

Land Clearing: ₦20,000

Seed Acquisition: ₦15,000 (this relies on upon where you are, it can be less expensive however it costs higher amid planting season)

Manual labor: ₦20,000 (you can even do it without anyone’s help)

Total: 55,000

Estimates of Profits in Groundnut Business in Nigeria

Let’s assume that all works out perfectly well. What you will be getting from this plot of land in terms of return will be about 3 big sacks of the groundnut. This I called 27 by farmers in Nigeria. You are expected to check out for the current price of one bag of groundnut and you see how much the three bags will cost. Now, you are to minus ₦4,500 from it and other expenses too should be minus and see what’s left over. That’s your benefit.Groundnut Farming Business Plan in Nigeria

Now that’s the simple arithmetic involve. No cheating whatever. Remember that you can still add other crops to it as we earlier discussed and this will enhance your business profits as you do your Harvest. Just imagine in less than three months your are making huge profits like these?

You can also read our >>> Cucumber Farming Business Plan In Nigeria/ Feasibility Study Proposal

You Need a Business Plan.

This can’t be over emphasized.

The need for business plan can’t be said enough. You have to get a business plan for your groundnut farm Business. We have a very well documented business plan for your groundnut farm. The reason for a business plan is to guide you through on how you intend to go about your business. This will involve the cost that will be required to start the groundnut farming Business. This is how you should break it: how much do you have? Where do you intend to source the fund from? Private or public individuals? How much do you need to start The business? Etc. Your business plan will also include feasibility studies on the market and financial projection.
There are some factors that you need to put into consideration before setting out which are: What skills do you have regarding this business? Well If you don’t have any at all then the wisest thing to do is to seek for skills or employ those who do have it. The fact that you don’t have the knowledge but are interested in the business, you will get the services of those who has the knowledge employed. So get a well detailed business plan for your groundnut farm.

To place an order for our Groundnut farming Business Plan in Nigeria & Feasibility Study, pay N10,000 to

GTBANK (Guaranty Trust Bank)
Account Name – Ogumka Innocent
Account No – 0153723721

After you have made payment for your Groundnut farming Business Plan in Nigeria & Feasibility Study, send your email and payment details to 09066078526. Once your payment has been verified the Groundnut farming Business Plan will be sent to your email.

There are certain challenges that comes along with having a Groundnut farming Business in Nigeria. And that’s the reason why you have to make your objectives very clear. It will be very nice and advantageous if you have a business plan with you. This will be your guide.
You have to ask yourself where you are to sell your groundnut for sale. You have to be prepared with enough resources that will be enough to start up your Groundnut farming business.

How to Market Your Groundnut Business in Nigeria

Contact Nearby Dealers

If you want to market your groundnut product, you have the options to Ones offer your groundnut to nearby dealers. Eateries, coffeehouses and free food merchants. All these are conceivable dealers that could be a very good market for your product.

Get a Location Around a Busy Business Centre

Having a good place where you can showcase your product is key. All you need do is to locate a place that is very close to your market audience. Don’t go too far away from your market targets.

Register Your Business

This is a very important part of your business. There is always a need to register your business with the Corporate Affairs Commission of Nigeria, (CAC) as this will give you a legal stand to operate your business in Nigeria. Also, there other bodies that must Grant you the permission to start the farming of Groundnut in your said location. You have to walk up to them. If you can’t locate them, then visit the local govt headquarters and find out about them.

We have a well documented article that shows how you can register your business without any stress. Just click here.

To place an order for our Groundnut farming Business Plan in Nigeria & Feasibility Study, pay N10,000 to

GTBANK (Guaranty Trust Bank)
Account Name – Ogumka Innocent
Account No – 0153723721

After you have made payment for your Groundnut farming Business Plan in Nigeria & Feasibility Study, send your email and payment details to 09066078526. Once your payment has been verified the Groundnut farming Business Plan will be sent to your email.

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