4 predictions on future trends in farming business
I may not be the biblical prophet, but having been in the farming industry for more than 30 years and interacted with thousands of farmers I can make some telling predictions on the future trends of farming in Nigeria.
Below are four of the many predictions that I have.
1. Small scale farmers will largely fade out.
Because most farmers are not willing to do what it takes to make it in farming either due to ignorance or know it all attitudes, many of them will continue to pack up. Also, some of them that came in to farming principally to make tons and tons of money without the relevant passion for it will fade out. It will also be increasingly difficult for small time farmers with bare bones capital to marketing their farming products. However some highly diligent ones will continue to flourish.
2. Sophisticated farming will be on the rise and will dominate.
Some real passionate young people with vibrant ideas and execution energies are emerging on the farming scene. They are ready to give farming whatever it takes to succeed. Moreover these individuals or groups have access to large capital to seize relevant opportunities for a highly successful venture.
3. Massive losses by highly capitalize farmers with unsound management practices.
Farming in the true sense is 5 percent work and 95 percent science. No matter how much you pump into farming, if you are not willing to play by the rules the venture will collapse like a pack of cards. Many big farms will continue to pack up because of their lackadaisical approach to basic management practices.
4. Super rich farmers will emerge.
Because farming can be very lucrative if done will, super rich farmers will continue to emerge in Nigeria. Nigeria is a big country will food needs her and there. The farmers that are willing to pay the price of success will continue to smile to the bank no matter what.
READ ALSO: 6 reasons Why some farmers fail