Today, we will be focusing on the cost of starting a goat farm in Nigeria in 2021. Furthermore, the estimated profit from that one can make from goat farming will not be left behind.
Note: this analysis is base on personal view from a goat farmer. As such, it is to be used for set up plans only but not as an actual amount.
At a glance, there are no much expenses in goat farming. In fact, goat farming in Nigeria can be said to be one of the most easiest type of animal farming in Nigeria.
Plans for Setting up a Goat Farm
The best point and steps to start planning for the start up of goat farm in Nigeria are as follows:
- Plan for where to rear the goats: this is a very important point to start with. If you have a vacant land, then you can use that for a start.
- Determine what specie of goat to rear: apparently, some breed of goats grow faster and bigger than others. To start a profitable farm, it is advisable to go for quality and healthy breed of goat.
- Check for the price of kids: Raising goats start from buying the kids. So check out the latest prices of kids base on their species.
- Plan for how to feed the goats: Feeding goat is not very expensive as feeding other animals. Goat can feed grasses and poultry feed. But it is advisable to get a unique goat feed for your goats.
How much will it Cost to Start a Goat Farm?
Without saying much more words, let’s kindly check out the amount that will be needed to start a goat farm in Nigeria in 2021.
Although there is no fix amount for starting a goat farm, the breakdown cost of starting a goat farm in Nigeria falls between Fifty Thousand Naira (N50,000) to Five Hundred Thousand Naira (N500,000).
Also check out:
- Analysed cost of starting a bread bakery in Nigeria
- The cost of starting snail farming business
- Cost of starting a fish farm in Nigeria
- Total cost of starting a pig farm in Nigeria
Some of the determinants of the actual amount that you will spend in starting a goat farm includes:
- The size of the farm
- Number of goats the farmer wish to rear.
- Acquiring a site/farmland for your goat pen
- Construction of goat pen
How to Start a Goat Farm in Nigeria 2021
Now that you have known the estimated amount needed to start a goat farm, let’s consider the easy steps to start up a goat farm in 2021.
First Step: The first step is to plan and construct a goat pen. It may cost up to twenty thousand naira (N20,000) to construct a well ventilated and secure pen house.
If you don’t have a farm land already, then you will need to buy or hire a farmland which may cost up to fifty thousand naira (N50,000).
Second Step: the next step is to launch your farm by bringing in the required number of kids that you wish to breed.
Third Step: The most important step is the feeding aspect. Feeding goat is very easy, simple and less expensive compared to feeding other farm animals.
Generally, goats feed on grasses. Meanwhile, goats can also consume poultry feed and other petty feeds. But it is advisable to feed your goat with recommended goat feed.
Profit in Goat Farming
Goat farming is one of the most easiest and profitable type of livestock farming in Nigeria. It requires low capital to start yet, it is very profitable.
A typical goat farmer in Nigeria can make as much as Fifty Thousand Naira ₦200,000 monthly profit from goat farming by selling his or her goats.
Meanwhile, goat meat is one of the most consumed type of meat in Nigeria by Nigerian households.
The increasing demand and consumption of more goat meats within the country has also increased the chances of making more profit from goat farming.
With the above information, we believe that you can estimatedly arrived at the cost of starting a goat farm in Nigeria base on your own financial plans.
If you are interested in goat farming, then go ahead and start it today using the cost analysis above as your estimated cost reference.