Cost of Maize Farming in Nigeria
The cost of maize farming in Nigeria depends on a lot of factors. The type of maize seeds you use for your maize farm can impact the total cost of cultivating the crop. The fertility of the soil can also impact the cost of cultivating the crop.
There are several factors that can impact the cost of maize farming in Nigeria. The cost of maize farming and the factors impacting the cost will be discussed in this article.
Maize Farming Business Plan in Nigeria
Financial Plan (in Naira ₦)
| Fertilisers: | |
| NPK (10 bags) | 100,000.00 |
| Urea Fertilizer (4 bags) | 48,000.00 |
| Potassium Humate | 9,000.00 |
| 157,000.00 | |
| Pesticides: | |
| Insecticides (15 bottles) | 60,000.00 |
| Nematicides | 5,000.00 |
| 65,000.00 | |
| Herbicides | 40,000.00 |
PROFIT ANALYSIS FOR ONE HECTARE OF MAIZE FARMING VENTURE- SCENARIO 1
| Revenue: | ||
| 7 tons @ N280,000 per ton | 1,960,000.00 | |
| Cost: | ||
| Rent of one hectare of farmland | 30,000.00 | |
| Fertiliser | 157,000.00 | |
| Manure | 50,000.00 | |
| Pesticides | 65,000.00 | |
| Herbicides | 40,000.00 | |
| Hybrid Seeds | 40,000.00 | |
| Labour for 4 months | 240,000.00 | |
| Knapsack Sprayer | 15,000.00 | |
| Farm Tools | 15,000.00 | |
| 652,000.00 | ||
| Profit | 1,308,000.00 |
PROFIT ANALYSIS FOR ONE HECTARE OF MAIZE FARMING VENTURE- SCENARIO 2
| Revenue: | ||
| 7 tons @ N250,000 per ton | 1,750,000.00 | |
| Cost: | ||
| Rent of one hectare of farmland | 30,000.00 | |
| Fertiliser | 157,000.00 | |
| Manure | 50,000.00 | |
| Pesticides | 65,000.00 | |
| Herbicides | 40,000.00 | |
| Hybrid Seeds | 40,000.00 | |
| Labour for 4 months | 240,000.00 | |
| Knapsack Sprayer | 15,000.00 | |
| Farm Tools | 15,000.00 | |
| 652,000.00 | ||
| Profit | 1,098,000.00 |
PROFIT ANALYSIS FOR ONE HECTARE OF MAIZE FARMING VENTURE- SCENARIO 3
| Revenue: | ||
| 7 tons @ N190,000 per ton | 1,330,000.00 | |
| Cost: | ||
| Rent of one hectare of farmland | 30,000.00 | |
| Fertiliser | 157,000.00 | |
| Manure | 50,000.00 | |
| Pesticides | 65,000.00 | |
| Herbicides | 40,000.00 | |
| Hybrid Seeds | 40,000.00 | |
| Labour for 4 months | 240,000.00 | |
| Knapsack Sprayer | 15,000.00 | |
| Farm Tools | 15,000.00 | |
| 652,000.00 | ||
| Profit | 678,000.00 |
Notes/Assumptions
The profit analyses were done based on three scenarios (best case, mid case and worst case).
Fertilizers
Ten bags of 50kg NPK 15:15:15 fertilizers, four bags of 50kg urea fertilizers and a sachet of potassium humate are expected to be used for a one hectare farm of maize. This is expected to cost N157,000.
It should be noted that a soil analysis is recommended to be done before you apply any type of fertilizer on your maize farm.
Pesticides
Your maize farm can be attacked by a lot of pests; hence, you need to apply pesticides for preventative and curative action. N65,000 is expected to be spent on insecticides and nematicides.
Please note that you may spend more if your farm is attacked by army worms.
Sales Revenue
I have estimated that a one hectare farm of maize can yield 7 tons of dry maize per hectare. Please note that the average yield in Nigeria is about 2 tons per hectare. I have seen maize farms that recorded 11 tons per hectare in Nigeria.
N1,960,000 is expected to be earned as sales revenue if the 7 tons of dry maize is sold at the rate of N280,000 per hectare.
We used three scenarios, the best case, mid case and the worst case.
Please note that you can earn a much higher sales revenue if you sell your harvested maize as fresh cobs in big cities like Lagos and Abuja.
Hybrid Seeds
For you to get a good yield from your maize farm, you need to plant hybrid maize seeds. I assumed that you will use hybrid pioneer maize seeds in this cost analysis.
N40,000 is expected to be spent on the purchase of hybrid seeds for your one hectare maize farm.
Manure
Manure can significantly increase the yield in maize farming. N50,000 is expected to be spent on manure for a one hectare maize farm. It is possible to get manure free of charge.
Herbicides
N40,000 is expected to be spent on herbicides. Herbicides are important for the prevention and control of weeds.
Weeds can reduce the yield of your maize crop by 30 – 90%.
Cost of Labour
The cost of labour for 4 months for a one hectare maize farm is expected to be N240,000. Labour cost varies from one location to the other. For large maize farms, the use of mechanization can significantly reduce the cost of labour.
Knapsack Sprayer
N15,000 is expected to be used for the purchase of a knapsack sprayer. This will be used to apply pesticides and herbicides.
It is advisable to buy a separate sprayer for the application of herbicides.
Farm Tools
The cost of farm tools for a one hectare maize farm is assumed to be N15,000 in this cost computation.
Please read a more detailed report on maize farming in Nigeria here.
