10 Richest Farmers in Nigeria (2023)
A farmer is typically thought of as someone who spends their entire day working on a farm. It is a common misconception that farming in Nigeria is a poor-paying occupation because the majority of farmers there struggle with debt, debts, drought, low yields, etc., leaving them with little to no revenue. However, there are still those people who have overcome numerous challenges and are now shining brightly in the agricultural sector.
The introduction of new tools and technologies has altered the situation for farmers. Farmers began branching out into agribusiness, and some are today listed among Nigeria’s wealthiest farmers. They are the ones that prioritized intelligence over hard effort and offered farming a fresh perspective.
TOP 10 RICHEST FARMERS IN NIGERIA (2023)
The farmers who are rich in Nigeria are thought to be among politicians, and other entrepreneurs, thus the other farmers must take their lead from them.
Former President Olusegun Obasanjo is presumably the richest farmer in Nigeria. He owns a farm called Obasanjo Farms, which is situated in Ota, Ogun State. This multi-billion dollar business, which has been in operation since 1979, has a national reach. Oyo State is home to additional Obasanjo Farms sites. The main goods that the Obasanjo Farms sell to the general public are grasscutter, pig, and poultry products. Moreover, the farm offers assistance with agro-industrialization.
Rotimi Williams’ Kereksuk Rice Farm seems to be the second-largest commercial rice farm in Nigeria in terms of land area. It has just been ten years since the industrial rice farmer first entered the industry. More than 8,000 metric tons of high-quality paddy rice are currently produced on his property each year for various Nigerian milling businesses. Nearly 1,000 people are employed by the farm, the majority of them are residents of the state of Nasarawa where the farm is located.
Kolawole Adeniji is a qualified and experienced mechanical engineer who established the NIJI Group. This corporation has affiliates with a stake in offering comprehensive agriculture solutions in Nigeria. Their offerings span farming, food processing, agricultural machinery and equipment production, agribusiness education, and farm mechanization. NIJI Group has developed into one of the largest integrated farms at this time. Kolawole is now among the wealthiest farmers in Nigeria.
PRINCE ARINZE ONEBUNNE
The list of the wealthiest farmers in Nigeria in 2023 also includes Prince Arinze Onebunne. He serves as the company’s managing consultant and CEO. Jovana Farms is based in Mushin and specializes in raising a variety of animals, including fish, guinea pigs, quails, antelopes, and rabbits. Aside from his income from raising animals, he also earns a sizable sum of money by instructing workers on other farms, doing surveys and feasibility studies, building farms, and giving seminars around Nigeria.
Although Abdullahi Adamu is well known as a renowned politician, he is also a highly successful farmer who enjoys widespread recognition. He is the owner of one of Africa’s largest dairy farms, Nagari Integrated Dairy Farms. There are around 7,000 Holstein cattle in the farm’s single integrated herd. The country receives a sizable volume of high-quality farm and dairy products from the Nagari Integrated Dairy Farm. In turn, this provides income that ranks Abdullahi Adamu among the highest-earning farmers.
Abdulsalami Abubakar has a distinguished political background, mostly as the head of state. His profession as a farmer is still flourishing, though, therefore he qualified for our list. He is the owner of Maizube Farms Limited in the Niger State. The Maizube Farm is a 500-hectare multi-product farm with a focus on crop and animal production. The country’s other agricultural businesses are owned by Abdulsalami Abubakar.
MURTALA HAMMAN-YERO NYAKO
Murtala Nyako is a major political figure and retired Vice Admiral. He is yet another wealthy farmer who started with the cows his mother gave him when he was a baby. Murtala Nyako started breeding his local cattle with superior foreign sires in 1990 after raising cattle locally with good success. Later, he started working with horticulture crops.
He also owns Nigeria’s largest mango plantation and the nation’s largest dairy farm, both of which are located on his farm Sebore Farms. In addition, he raises goats and grows fruit, fish, and other crops.
USMAN DANTATA JR.
The Dantata dynasty is home to a large number of high net worth individuals who have built up their riches through business ventures in a variety of economic areas. One of them is Usman Dantata Jr. He serves as the company’s president and chief executive officer. Usman Dantata Jr. Joined the farm even though his late father had established it in the 1960s, revitalizing the poultry industry and making it one of the biggest in the nation. 3,000 broilers or more are produced everyday by the poultry. Anadariya Farms also offers hatching, feed manufacturing, and the processing and sale of poultry goods.
LADY OLUFUNMILAYO AGBATO
Lady Olufunmilayo Agbato has almost 40 years of experience in a variety of fields including farming. Animal Care Services Konsult is engaged in the manufacturing, sourcing, and distribution of animal health products, as well as the commercial production of poultry, aquaculture, and cattle feed. Veterinary services and consulting are additional offerings. The Agbato family is also connected to Funtana Farms, another agricultural business.
Tunde Folawiyo currently sits at the top of hierarchy of the Yinka Folawiyo Group of Companies, in which the Folawiyo Farms Limited is a part of. Since November 1985, the Yinka Folawiyo Avenue-based Folawiyo Farms Limited has been operating in Apapa, Lagos. It is involved in the manufacturing and distribution of agrochemicals, as well as livestock and fish farming, flour milling, and integrated agricultural production. The Yinka Folawiyo Group of Companies is a multi-billion dollar multinational corporation in the country.
Agriculture had been mainstay of Nigeria’s economy even before discovery of crude oil. The economy of the nation then prospered, and food was accessible and reasonably priced. Therefore, people did not go hungry, even in dire circumstances brought on by a serious issue. In an effort to salvage their country, some affluent Nigerians got involved in agriculture. A few of them also made the conscious decision to pursue their passions rather than strive to become the richest farmers in the country.