Nigerian farmers are eyeing a slice of the $10.8bn global market for Moringa, a tree prized for its nutritional, cosmetic, and medicinal value.
The fast-growing, drought-resistant Moringa, scientifically called ‘Moringa oleifera, is indigenous to South Asia and widely cultivated in tropical and subtropical countries like Nigeria.
The global market size of Moringa products was put at $10.8 billion in 2023, according to data from Zion Market Research. It is projected to hit $18.2 billion by 2030, with a growth rate of 8.5 percent annually, thanks to the growing global health awareness.
This demand surge is fueling a new breed of farmers in Africa’s most populous country and creating export opportunities for exporters.
“Moringa farming promises a huge source of revenue and a good investment scheme for anyone looking to go into it,” Adamu Shuiabu, a Moringa farmer, told BusinessDay from his Abuja farm.
“The tree yields all year round and one can start making returns within four months of planting,” he said, noting that the demand for the leaves and fruits is increasing daily.
Shuiabu, who is also a member of the Moringa Production, Marketers and Farmers Welfare and Empowerment Association, explained that an average of N200,000 can be made from a plot of Moringa farm.
He added that about N2 million can be derived from one hectare, reflecting the huge revenue potential in Moringa farming.
“A kilo of the leaf costs about N2,500,” he said. “With this, millions can be made from Moringa farming,” he explained.
According to him, “Maintaining the tree is not very capital intensive and all its parts are useful – from the leaves, stem, and seeds.”
According to sourced data, the global Moringa market has been experiencing steady growth since 2022.
In 2023, it rose 14 percent to $10.8 billion, from $9.5 billion in 2022. It is projected to reach $23.11 billion by 2030, establishing its huge market potential and why investors should tap into the value chain now.
The extracts from Moringa leaves have many uses and benefits, either medically or industrially.
Due to its versatility, Moringa can be processed into edible vegetable oil. Its seeds can be ground into flour and processed for nursing mothers suffering from a lack of sufficient milk production.
It has been proven to prevent scurvy, tumors, high blood pressure and asthma.
However, Nigerian investors and farmers have not completely optimised the full potential of the Moringa market due to the education gap and inadequate support from the federal government, experts say.
Read also: Nigeria can earn N1trn monthly from moringa farming — Association
“The whole world needs what we have in our country, but the government needs to support its citizens. It is simple. We don’t need more than their support,” Michael Ashimaghiga, chairman of Moringa Production, Marketers and Farmers Welfare and Empowerment Association, said.
“God gave this country the best weather, the best land and everything but we have somehow become political with our resources,” he added.
Nigeria produces about 30,000 metric tons of Moringa annually, according to experts in the value chain.
“Almost all the food processing industries globally need what we have here. We have one of the best Moringa species globally, even more than what India has,” Ashimaghiga said.
India – the highest global producer of moringa – produces about N2.2 million metric tons annually, accounting for 80 percent of the world’s moringa production, followed by the Philippines. This puts Nigeria behind in production by over 2 million metric tons.
He revealed that a small portion of Nigeria’s Moringa is exported to the United States and other African countries. However, he stressed that the country has the potential to earn higher foreign exchange if more farmers and investors engage in Moringa farming.
“If more people come into the Moringa value chain, both the farmers, investors and the government will all gain because we will all be making money,” he stated.
Ashimaghiga explained that Moringa farming is not capital intensive and promises high yield when cultivated on land as small as one plot, noting that Nigeria could become one of the highest exporters and producers of Moringa plants globally with government support for farmers.
Idris Uba, a farmer and businessman in Jigawa state, told BusinessDay that the numerous uses of Moringa trees make it a viable business venture for investors.
“Moringa is used for the manufacture of drugs and supplements, Moringa fertiliser and also animal feed. Therefore, it is a good business venture for farmers and investors,” he shared.
The Moringa tree is best cultivated between April and August at the peak of the rainy season as a lack of sufficient water supply stunts its growth.
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