Looking for a business plan on pig farming? Well, I have done a complete feasibility study on pig farming in Nigeria and in this write-up, you will get a detailed business plan for pig production business in Nigeria or any other part of the world. However, note that the price given here varies from one location to another.
Pig farming is a very lucrative business idea in Nigeria. Many pig farmers make good cash from raising foreign or local pig breeds in Nigeria.
How profitable is a pig farming business
If you are wondering how lucrative is pig farming in Nigeria then let me give you detailed information on that.
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- Pig is one of the best farm animals with a high production rate. A single dow can give birth to 16 piglets and can give birth twice in a year.
- Pigs grow fast if you get good breeds and can reach market weight within 6 – 8month.
- The demand for pork meat is high all over the world and you can make good money from owning a pig farm; You can target your immediate country or even export pigs to other country depending on your scale of production.
- Even with a small capital of ₦200,000 or less, you can start your pig production business and make a good profit.
- Pigs sell well in the market and a well-fed pig can even sell for as much as ₦70,000 in Nigeria. While piglets can sell for ₦6000 depending on the breeds.
- Pigs have a low mortality rate compared to other farm animals.
- It is relatively cheap to raise pig as they eat most of the food man eats. Therefore you may not need to buy them special feed.
- The special feed for feeding pigs is not as expensive as poultry farming feeds.
What do you need to start a pig farm
Well, to start a pig farming business in Nigeria or any other part of the world here are things you should put in place:
- A good location for breeding the pigs
- A pig house (pigpen); well built, well ventilated and with a conducive atmospheric condition for the pigs.
- Good pig breeds
- Water facilities for providing water for the pigs
- Fence and gate to prevent the pigs from wandering too far from the pig farm.
Related: Pig Farm: How to Start a Pig Farming Business in Nigeria
Pig farming business plan
The cost of building a pig house varies from one location to another so I will not be giving you any fixed price. So you need to visit a pig farmer and know the standard spacing in the pig house and the modern structure or facilities needed.
Furthermore, purchasing land in the city is very expensive so I will recommend you visit a rural area and acquire land for your pig farming business.
It is important to figure out how the business will operate in terms of funding, production, marketing, and targeted customers before you start your pig production. Furthermore, you also need to know your competitors and have a market strategy like the pricing strategies this will make you get more sales.
Piglets need special feed (pallet) and should always be fed to the piglets. This will make them develop fast. But for growing pig, you can mix some grains along with pellet feeds. However, for the mature pigs, you can feed them with a variety of wholesome grains such as rice, barley, corn, and wheat. These are the common grains most pig farmers use in feeding their pigs. But note that these grains are high in carbohydrates and excessive carbohydrates can cause your pigs to put on fat. So, giving the pigs regular grains and foods rich in protein is a good idea.
Major money for feeding will be spent when raising the piglet while the growing and mature pigs will save you feeding expenses as they can eat grains and protein supplements.
Related: How to Start and Finance Business Ideas
Having seen what is required to set up your pig farm here is a free piggery business proposal for 25 piglets and the financial analysis.
But if you want to go very large you can increase the number of piglets. However, know that pigs multiply fast so you don’t go breeding pigs that will be poorly fed as this can affect the pricing. It is better to grow the business gradually than to rush and start having financial issues. So, produce what your funds can handle.
Note that this financial analysis does not include building the pig house, acquiring a good location or installing any modern facility on the pig farm.
A good breed of Piglets sells for ₦5,000 – ₦6,000 in some pig farm. So picking from the high we have ₦6,000.
Price of 25 piglets: ₦6,000 × 25 = ₦150,000
Feeding cost = ₦300,000 (Estimated price for 6 months)
Vaccine and labor cost ₦100,000 (Might be less if you don’t have employed staffs)
And at this stage, the pigs should be weighing 280 pounds (127kg).
A mature pig sells for about ₦70,000 depending on the size. Assuming there was a casualty on 2 pigs, we would be left with 23 pigs. So, selling at an average price of ₦60000 per pig we have.
₦60000 × 23 = ₦1,380,000
Profit = income – expenses
₦1380000 – ₦550000 = ₦830000
Note that to keep the pig farm still running you have to breed the pigs to produce piglets before selling. Therefore you should take note of the pig’s age and sell the sows when you are no longer satisfied with there production.