Last Updated on November 23, 2021 by Ope Quadri
Poultry farming business is one of the capital-intensive businesses. It requires proper planning and management
Poor management could lead to a loss running into millions or billions of naira. No wonder, a new poultry farming entrant learn from existing farmers for avoidable mistakes.
Poultry farming includes the rearing of domesticated birds like ducks, chickens, geese, and turkeys purposely raised for meat demand or eggs for food.
Poultry business mostly chicken farming has been in existence for decades, usually using the free-range which allows chickens to roam freely during the day and kept in an enclosed place at night in order to protect from predators.
We’ve extensively covered this topic in one of our guides, but in an interview with Daily Trust, a Niger State-based poultry farmer and the founder of GoldenYolk Plantations Limited Nasir Mansur Mahmoud reveals how he overcame some of the challenges that came his way in the early stage of his farming.
While we know that the income that could be generated from poultry business is huge, problems associated with the business could wipe off the profit within a week or lesser.
Here are the poultry management ideas you need to learn from GoldenYolk Plantations Limited:
- Avoid double-digit loan
- Having a plan ahead
- Know What You Want
- Nigeria’s Poultry Market Is Large
- Prepare For Challenges Ahead
Avoid double-digit loan
Don’t take double-digit loan to start a business that is full of uncertainties. As we had said severally, the best credit facility for a startup is an interest-free loan or non-interest financing.
That’s exactly what Alhaji Nasir Mahmoud revealed about his business, he looked for a Nigerian bank that offers no-interest financing and approached Jaiz Bank.
Note: Jaiz Bank is the pioneer of non-interest banking in Nigeria. Others include LOTUS bank, Sterling Alternative Finance, and Taj Bank.
Have a Plan Ahead
The retired civil servants disclosed that he already plans to start poultry farming immediately after retirement. And immediately he retired, he joined a group of farmers.
Don’t nurse your fears when it comes to starting afresh, if you allow fears to overwhelm you, you won’t be able to a step. You may remain stagnant if you think more about the possibility of failure than the possibility of success.
Know What You Want
There are more than 40 banks in Nigeria that are ready to grant loan applications provided you’re able to meet their eligibility requirements and if they would help in meeting your business goals.
As a startup, do a quick check on the list of credit facilities offered by Nigerian banks.
According to Mr. Mahmoud, “When I started, I had some challenges but the biggest of them was funding because poultry farming is capital-intensive. When I realised these challenges, I approached Jaiz Bank for financing, which they granted.”
Do the same, don’t rely on what people say outside. Don’t rely on the notion that banks only grant credit facilities to family members.
Nigeria’s Poultry Market Is Large
A report revealed that Nigeria has the largest annual egg production in Africa and the second-largest chicken population on the continent.
A report by CSIRO says:
at least poultry production in Nigeria amounts up to 300 Mt of meat and 650 Mt eggs per year while there are about 85 million poultry farmers in Nigeria.
With the large number, poultry products are in high demand, meaning demands from other African countries are huge.
According to the founder of GoldenYolk Plantations Limited, “People from neighbouring countries are coming to get poultry products in Nigeria. I hope to go into exportation of the products soon.”
Would you like to go into farming business? The market is waiting for you.
Prepare For Challenges Ahead
You must be able to apply the economic realities in poultry management. For instance, the price of feed has doubled by 100%, from N2,500 before the pandemic to N5,000 or N5,500
The farm is located in Zuidna Town, along Sabon Bwari Road, Sabon Wuse, Tafa Local Government Area of Niger State.
- Poultry production in Nigeria: https://research.csiro.au/livegaps/findings/livestock-production/poultry-production-in-nigeria
Ope is the Head of Content at InfomediaNG. He’s a researcher whose interests cut across real estate investment, stocks, financial technology, and youth empowerment. He’s awesome in Content Marketing and SEO. Favourite Tools: Google Analytics, Canva, UberSuggest