Technology is helping middle-class Nigerians turn to farming without getting their hands dirty
Thursday, September 28, 2017
For decades, various Nigerian administrations have championed the idea of diversifying an oil-dependent economy with agriculture often been cited as the top alternative. But rather than match bluster with action, Africa’s largest oil producer has perennially remained reliant on it’s biggest export.
More than 80% of farmers in Nigeria are small holder farmers who cultivate a few acres of land to feed their family and also sell produce to earn a living. Yet, while the government has failed—getting middle-class Nigerians to take up farming—thanks to technology, a crop of new agro-tech startups are finding success.
Rather than purchase farmlands and get involved the daily routine of the industry, startups like FarmCrowdy and ThriveAgric enable interested middle-class Nigerians to fund existing farms for between $200 and $750 for a harvest cycle (which can last between five and six months depending on the crop) and earn up a share of profits.
Photo courtesy of Neil Palmer.