Goat Farming Business Cost and Profit for the New Year

bymarywil June 23, 2020 livestock farming 0 Comments
Goat farming business cost
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In this article, we are going to show you a few things you need to know about the goat farming business in terms of starting costs and the profit involved.

Types of goats in Nigeria, and goat farming business benefits are also part of what we intend to reveal. This, however, is preliminary information not specific so grab a cup of coffee as we progress.

Goat as we know is referred to as a poor man’s cow in this part of the world. It fits perfectly to achieve different objectives such as poverty alleviation, food security, employment, and rural empowerment.

Rearing goats as a business provides supplementary income to millions of farmers residing in remote villages. For example, the Goat sector contributes 8.4% of India’s livestock GDP thereby making the country one of the largest goat-owning countries in the world.

According to Interchopen, Nigeria has a population of 34.5million goats, 22.1million sheep, and 13.9million cattle. On the other hand, a rough estimate of 6.6million of the goats is found in southern Nigeria and 20million in the Northern region of the country.

The goat farming business is a very ancient occupation that requires a little cost to set up. The business is very profitable and sustainable. They frequently give birth to twins and triplets depending on the breed. The pregnancy period is around 150 days and the season is mostly seen between September to match.

Research has it that goat meat is widely eaten by many Nigerian families due to its unique taste, aroma and nutritional values.

Types of Goats in Nigeria

The question of what breed to start with always pops up while setting up this kind of business. Understand that your choice is influenced by geographical area, market, and the capital at your disposal. In Nigeria, the species are largely indigenous. They are;

  • West African Dwarf (WAD)
  • West African Long-legged, known as desert goat and
  • Sokoto red popularly called Maradi.

The Dwarf breeds are common in Southern Nigeria while the Sokoto red and Long-legged are commonly seen in the Northern part. These species have a 40% fertility rate as they give birth to twins and triplets, and low mortality rates of 22% for kids and 14% for adults.

Goat Farming Business Cost

The cost of starting commercial goat farming in Nigeria is on the high side since it requires business registration, fencing, housing, feed, labour, good source of water, etc.

You should consider purchasing from 100 goats and above if you intend to start the business on a large scale. Prices of goats in Nigeria vary; small ones are sold between N5,000 and N10,000, medium size between N10,000 and N18,000 while the big ones are between N20,000 and N35,000.

Where do I buy goats in Nigeria? I sense you would ask this question. For profit maximization, is best you purchase goats in bulk at village markets in Kastina, Sokoto, Kanu, or Zamfara state.

Now, let’s see the rough estimate of what 100goats will take.

Average cost per goat      N8, 000 X 100 = N800, 000

Loading and offloading    N10, 000

Transportation                  N40, 000

Agent fee per goat          N100 X 100 = N10, 000

Terminal fee and road settlements   N5, 000

Total estimated cost                       N865, 000

Note: figures above are estimates intended to give you an idea of what it might cost if you are starting large-scale goat farming with 100goats. You can start small while thinking big.

Goat Farming Business Benefits

There are different objectives people have in mind for venturing into commercial goat farming; either for meat production, milk extraction, or just for breeding. Either way, goat farming as a business has proven to have both economic and social benefits. Below are some of the benefits;

  • The goat business in Nigeria is growing at a very higher rate as compared to other agriculture-related enterprises. The business gives a handsome return on investment.
  • Goat milk is increasingly on demand as cosmetics industries now produce soaps and lotions with it.
  • The meat is widely eaten in every home since is low in cholesterol and rich in fatty acids.
  • The animal requires low maintenance as compared to others.
  • Generates income for direct owners, government, meat sellers, and butchers.
  • Goat farming as a business is low investment and high profit.
  • Rearing goats for business create direct and indirect employment for the youths.
  • Is a multi-purpose animal producing quality meat, milk, manure, fibre.
  • Goat produces natural manure used in organic farming.
  • They eliminate by eating up unwanted weeds in gardens at homes.
  • Wool from goats is used to produce carpets, knitwear, and fabrics.
  • Butchered goat bones could be used in the production of bone meals for animal feed.
  • There is no religious taboo against slaughtering and eating goats all over the world.

Goat Farming Business Profit

Is goat farming a profitable business in Nigeria?  The answer is YES.

The business gives huge returns on investment provided you know what you are doing. Now, assuming you spent N865, 000 on 100goats and after a while sold them for N25, 000 each, what will be the profit? Let’s do the mathematics.

Number of goats sold 100 X 25, 000 = N2, 500, 000

Deduct amount spent N2, 500, 000 – N865, 000 = N1, 635, 000                    

This means that 100goats according to our calculation will give you a profit of N1, 635, 000.

There are other expenses during breeding such as feeding, vaccinations, vitamins, labour. when you deduct the expenses from the above figure what is left is your income.

Incredible! Right

Wrap Up

Goat farming business profit is huge when you venture into it. Goats are rugged and resistant to diseases. Some diseases are particularly fatal like E. coli, Endotoxemia and PPR.

Endotoxemia, Diarrhea, and Pneumonia are major killers of goats. Therefore, prevention of these diseases is a must if you will have success in the business.

Goats feed mostly on green grasses, green branches of trees, shrubs, and grains. Vitamins, minerals, and salt are also good for building up the immune system and enhancing their performance.

Going commercial, employing honest and hardworking staff is of importance since you can’t handle the job singlehandedly.

The service of a veterinary doctor is a must if you want your animals to be healthy.

There is no successful business on its own. What makes any business successful is the amount of knowledge, time, and energy you invest in it. Kindly see our article on pig rearing business

Is goat farming a profitable business? You can answer the question now

See you at the top

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