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How to Start a Cocoa Business in Nigeria and Make Money From It

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People born between the ’60s and ’80s would definitely know the value of cocoa production in Nigeria. Cocoa is a crop Nigeria once banked on as its major exported cash crops before the oil boom. Nigeria was the biggest exporter of cocoa in Africa and one of the biggest in the world. Then Crude Oil came and poor agricultural management set in, costing the Nigerian economy badly and allowing Nigerian to lose the prestigious spot to a fellow African country, Cote d’Ivoire, who is now the largest cocoa producer in the world, followed by Indonesia.

When cocoa production and export are concerned, Nigeria only lives in past glory and if care is not taken, Nigeria might end up losing all it has gained from the export of what is touted as some farmers as the ‘Wealth Seed.’ The demand for Cocoa now is significantly higher than what the demand was, back then. When the agricultural spotlight is focused on Nigeria, foreign countries can vividly see the potentials in Nigeria and would quickly act fast in taking advantage of it, while Nigerians sit on a goldmine and yet they can’t see it but only look forward to foreign aid and investments.

Anyone looking to delve into Cocoa production business in Nigeria is in for a bit of a fortune if he really knows his onions. For a long time, Cocoa has been and would for a really long time still be one of the fastest-selling agricultural products in both the international market and the local market. As stated earlier, there is a high prospect for cocoa business to thrive in the country. This is because it is in high demand all over the world as it is used in the manufacture of different things such as candy bars, chocolate, cocoa powder as well as drinks and several others. Cocoa farming and beans extraction are labour intensive and the beans are fragile. This pushes many people from the business, especially in a country like Nigeria where there are deficiencies of preservative facilities.

Although Cocoa is not the easiest of crops to manage, once a potential merchant can sacrifice the time and the effort to have it planted, groomed and nurtured to its full maturity, he can keep getting attractive returns on it for a time as long as decades. Truth be told, cocoa production in Nigeria is one very under-exploited and under-utilised sector and Nigeria still needs as many farmers in the cocoa production section as possible, since demand continues to outweigh supply. There are still thousands of acres of fertile lands that can still be used for the planting and cultivation of cocoa. Just like any other business, a potential Cocoa merchant must have a well-designed business plan that will guide the cocoa business. This means that he must first sit down and work out things involved in the cocoa business and have a road map on how to go about it.

Delving into Cocoa Farming and Production

Starting the cocoa farming and production business in Nigeria isn’t as hard as it seems, especially if one can endeavour to gather the right information and knowledge about the business. Armed with the right knowledge on cocoa farming, botany, industrial value and demand chain, a potential cocoa merchant can be able to utilise and exploit the huge profits associated with the business, and with time he might soon become a big player in the cocoa production business.

It is also worthy to note that the returns on cocoa business start small but grows on bigger and bigger with time and the right amount of effort.

 

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The first major step in delving into Cocoa Farming and production is Financial Planning

Anyone who has an interests in cocoa cultivation must first work out the different costs. Different costs are involved and fundraising for the business is also important.  Furthermore, research has shown that cocoa can grow together with other cash crops like Coconut and Cashew so combining the production strategies is a good way to maximise profits.

Capital also plays a large role in the kick-off of this business. A potential merchant has to decide if he would be going into Cocoa cultivation large scale or small scale. This decision would influence the amount of capital he would be investing in the business. This is why a good Business plan goes a long way in determining the success rate of the cocoa cultivation business.

Other things needed are:

  • Piece of Land: If the merchant wants to see through his business from start to finish, he would unavoidably need an area of land to start his cocoa business, but it all depends on what he can afford. For a small scale business, he doesn’t necessarily have to get farmland, as he can simply buy fresh cocoa seeds from farmers who’ll sell it at a much lesser price.
  • Storage and Drying Space: The merchant would inevitably need to have a store or warehouse, secure enough to give his business (the cocoa seeds) the required safekeeping it needs. His business is his cocoa seeds, as he has no business with the pods. Also, the store needs to have enough space outdoors for him to spread his seeds. Cocoa seeds need to be dried in the sun for it to be usable. The drying period normally takes a period of two weeks.
  • Relevant Equipment: The merchant would need equipment like the scale for weighing the bags, normal sacks and heavy-duty sacks, for conveying the seeds from one place to another, and a wide water-proof material that can be used in drying the seeds in open air.
  • Cocoa Seeds: There goes the tiny but most integral part of the business. The cocoa seeds can either be bought from cocoa farmers or harvested if the merchant already has access to a cocoa farm, an option which is advisable later in his business when you have the money.

 

Land Preparation

Cocoa is a crop that cannot do well in all kinds of soil. This means that before a potential merchant commences the business, he must test the soil to determine the type of yield he would be able to attain during harvest season.

Crop protection and nutrient management are also important in this kind of business. Cocoa is known to grow well in some parts of Nigeria, especially the western part of Nigeria. One can consider acquiring land in any of these places to grow cocoa.

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The Type of Cocoa Variety to Invest in

Another aspect a prospective merchant will pay attention to is the best variety to plant. This is that the reason soil test will help him discover the types of cocoa species that are compatible with a particular soil or environment.

There are at least three varieties on the market and they include the Trinitario, Forastero, as well as the Criollo. Apart from that, there are also some improved varieties, which can be gotten from other parts of the world, and these can do well in Nigeria.

 

Planting Process

Method of Propagation

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When it comes to Cocoa cultivation, there are two options available to the merchant, which include the Vegetative and Seed propagation. A lot of people prefer Seed propagation because it seems to grow faster than the Vegetative propagation. Germinations starts within a week of propagation and moreover, a greater percentage of it can germinate (at least ninety per cent or more of the seed). The survival rate is higher in seed than in vegetative propagation.

Also, this stage is where the main business starts. A Cocoa merchant can also engage in mass production of cocoa after the seeds have germinated, he can transplant them using a perforated polythene bag. He can also sell some of the seedlings. Other merchants who deal in Cocoa seedlings will like to buy it.

On the other hand, many large-scale producers prefer the Vegetative option than the seedling option. Vegetation is grown through such methods like grafting, root cuttings, as well as stem budding and so on. In Nigeria, many cocoa farmers prefer the budding option.

Planting
When it comes to planting, the merchant has to be careful the way he plants it to ensure that it survives. If after testing the soil and he discovers that it is not that fertile, there are still other alternatives.  He would have to dig a pit of about 50 by 50 by 50 centimetres. This advice is very important if he resides in the lateritic zones where the soil is known to be low fertile.

After digging the holes, he must make a soil combination of organic manure and topsoil and fill the pit with it. This is to enhance the survival rate. Those in fertile areas have nothing to worry about.

It is always recommended to plant it on a soil surface. The cocoa root grows well in surfaces irrespective of the depth.

After-cultivation Care
There are a few must-dos that attract a bumper cocoa harvest, time and resources are of the essence when taking care of the cocoa. Once the planting is finished, the next thing to do is to mulch the basins using organic manure.

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Shoots emerging from the lower portions must be removed.  This is to ensure healthy development and growth of the shoot. The planting can last three to four years, but the process always has to be weed-free.

Fertilisation and Manure
The essence of the soil test is to determine soil fertility. This can equally assist in determining the right type of manure to apply. In Nigeria, NPK fertilizers are popular and this can be applied in two equal splits.

The dose to apply depends on the yield wanted. For species that yield up to sixty pods yearly, the dose must be doubled.

In addition to that, the merchant can administer dolomite to each plant yearly. This can start from the third year of the cocoa plantation. The best method to administer fertilizer to the cocoa crops is to mix fertilizer with soil in a basin and administer it to the plant.

Pruning
The cocoa plant requires pruning and it grows in tiers. If properly managed, the plant can produce five fan branches. It is better if the growth is restricted just to one-tier. Because of that, there is the need for constant pruning.

Irrigation
Irrigation is necessary if there is no adequate rainfall distribution. Naturally, it grows well under well water. Supplemental irrigation is a necessity if the merchant stay in areas where there is no adequate water supply. Water is necessary because it helps cocoa plants to grow very well and makes the yield better.

Protection
Cocoa like other cash crops needs to be protected from diseases, pests, and vagaries of nature. The most important thing is to protect them from those harmful insects and pests around. There must be an adequate arrangement for chemical spraying and other ways of protecting it.

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Harvesting
This is the time to yield the benefits of labour. It takes about one hundred and seventy days for the cocoa to be ready for harvesting. After harvesting the pods, the merchant can store it for four days. This facilitates fermentation. Furthermore, it makes superior quality cocoa beans possible.  The pods should not be overripe before harvesting.

There are two harvesting seasons in a year; light and heavy harvest.

After harvesting, it is time for fermentation. With a good cocoa processing unit, the merchant is sure of producing different varieties of cocoa beans.

 

Marketing and Export

The target markets are food and beverage companies, soap making industries, chocolate producing companies etc. A ton of cocoa seeds is sold between $2195 – $3130 in the International market. Locally cocoa has a standard price of 50kg selling for ₦55,000.

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There are a variety of ways that cocoa is exported from Nigeria. In some cases, one or even two middlemen are involved between the Nigerian farmers and cocoa exporters. The Nigerian trade begins with farmers working to harvest cocoa beans from the local crop. The following are ways in which cocoa beans are exported from Nigeria:

  • Farmers to Small Buyers – Small buyers visit individual clients (farms) to purchase a share of the cocoa crop. In this method, small buyers may sell the crop directly to exporters, but more commonly the small buyers sell the cocoa to wholesale buyers who make the final sell to exporters.
  • Farmers to Co-operatives – Farmer co-ops combine cocoa from several farms to sell to different agencies. The co-op purchases cocoa directly from farmers, and in some cases, sells it to exporters directly. In other cases, the co-op may also export the product directly.

Nearly half of all Cocoa in Nigeria is exported to the Netherlands (45%). Germany and Malaysia are ranked second and third in cocoa imports from Nigeria, importing 22% and 6.2% of Nigeria’s cocoa output, respectively. Other top importers of Nigerian cocoa include Spain, Italy, Belgium-Luxembourg, and China.

Nigerian cocoa and cocoa beans are usually exported in the raw or unprocessed form to chocolate processing plants in these countries. The cocoa is typically exported to confectionary companies to make chocolate bars and other chocolate products, such as candy, cakes, and chocolate beverages.

 

List of Cocoa Exporters in Nigeria

The International Cocoa Organization (ICCO) based in Ivory Coast maintains a directory of farmers, exporters, and other professionals related to the cocoa industry. Although Nigeria was a member in 2010, the country is not listed among the organisation’s members in 2018.

Cocoa Exporters in Nigeria

The list of cocoa exporters in Nigeria include:

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  • FTN Cocoa Processors Plc
  • Ideal Risku Global Limited
  • Saro Agro-Allied
  • Tosmega Cocoa Nigeria Limited
  • Akeen and Kamoru Nigeria Ltd
  • Berveek Limited
  • Cocoa Products (Ile Oluji) Ltd
  • Remedy Crown Investment
  • Shinwillcrown Cocoa Producing Company

The list of cocoa bean exporters of bulk and wholesale cocoa beans from Nigeria include:

  • Agro traders Ltd
  • Crystal Green Ltd
  • Gbemtan Investment Ltd
  • Olatunde International Ltd
  • Agebelere Cocoa Farm
  • Okon & Sons Integrated Services Ltd
  • Ose Global Bizness Links Nig. Ltd.
  • Terry Cocoa Merchant
  • Yinka Akintilo Enterprises Ltd

 

Cocoa Production in Nigeria: Feasibility Study
The feasibility study included in this guide is for a medium cocoa production business, from the start to the sale of 500 bags of cocoa. The Capital covers from store set-up, land acquisition, seed purchase, production, and marketing.
The selling price of cocoa is the same almost everywhere. Each bag (A standard of 50 Kg) is being sold for about ₦55,000.

For a start, all the materials needed (Renting a store depends on location, purchase of needed equipment, planting and tendering, and so on, is approximately ₦3,500,000)

If the merchant starts harvesting after 18 months, (he can start harvesting as soon as that if he had planted the early-maturing, high-yielding and disease-resistant cocoa beans seed to boost his farm’s production in a short period of time).
₦55,000 X 500 = ₦27,500,000

(Return on Investment) ROI = ₦27,500,000 – ₦3,500,000 After 18 months of cultivation, the gain is a staggering ₦24,000,000; which isn’t bad at all especially since selling cocoa beans seed doesn’t take much marketing.

 

Issues Affecting Cocoa Export in Nigeria

Before you engage in the cocoa trade in Nigeria, it’s important to consider how to overcome common challenges affecting the cocoa trade and cocoa exporters in Africa. These concerns include everything from adequate production to transportation. Educating yourself on these issues may not eliminate the concern, but can help you determine a plan of action before engaging in trade.

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  • Roads and Transport – More than 30,000 tons of cocoa were found delayed in transit in the capital city of Lagos while en route to ports for export.  Specifically, traffic, craters, and floods are to blame for the delay. This delay put strain on local businesses and some even sought loans to cover expenses while waiting for exports to be shipped and paid by buyers.
  • Delays in cocoa production – For many years, Nigeria ranked fourth behind Ivory Coast, Ghana, and Indonesia in cocoa production, but a recent drop in production has lowered Nigeria’s position in the cocoa production chain to fifth, tied with Cameroon. Lack of support for farmers, including access to cocoa seedlings, price risk management, and pest control training are just a few factors that have led to a decrease in cocoa production. Many small farms harvest most cocoa in Nigeria throughout the southern region.
  • Lack of farmers – Several news reports outline both the lack of younger farmers and the lack of interest of younger farmers in cocoa farming. This lack of interest has led to a decrease in the number of cocoa farmers. While there have been calls to stimulate the cocoa economy, the Nigerian cocoa production efforts faces significant challenges to its growth if enough young farmers don’t participate in the cocoa trade.

 

COCOA PRODUCTION: RISKS INVOLVED

  • Managing a cocoa farm takes time, effort, patience and energy.
  • Constant guard and protective measure against rodents and infectious parasites.
  • Setting up a cocoa production plant is very capital intensive.

COCOA PRODUCTION: ADVANTAGES

  • Cocoa sells faster than almost every other agricultural produce.
  • The merchant would inadvertently be contributing to the nations GDP.
  • A lot of beverage companies rely on cocoa for production, making it very profitable.
  • As a young person, you can leave the circle of the unemployed.
  • The ROI from cocoa and production is very attractive and is enough compensation for the merchant’s time, energy and money.
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AFRICA

Ethiopia, Sudan, Nigeria Are ‘Hunger Hotspots’ – UN

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The Hunger Hotspots Report which was released by the World Food Programme (WFP) and Food and Agriculture Organization (FAO), says Ethiopia, Nigeria, South Sudan, and Yemen remain the countries of highest concern.

The report issued an early warning for urgent humanitarian action in what they described as 20 “hunger hotspots” where part of the population was likely to face a significant deterioration of acute food insecurity in the coming months, that will put their lives and livelihoods at risk.

To identify hunger hotspots, FAO and WFP assessed how key drivers of food insecurity are likely to evolve and have combined effects across countries in the coming months, and the related risks of deterioration.

In South Sudan, one of the four countries of highest concern, conflict and constrained humanitarian access, the effects of the Covid-19 pandemic, economic challenges, and elevated food prices, are worsening the situation. Communities have also had to grapple with severe flooding that has caused widespread displacement, damage to agricultural production, the destruction of livelihoods, and compounded existing issues in many regions.

In Nigeria, insecurity and high inflation rates are aggravating acute food insecurity. The situation is of highest concern in conflict-affected Borno State, where around 13,500 people are projected to slide into catastrophic acute food insecurity if humanitarian and livelihood-building interventions are not sustained.

There has been no update for Ethiopia since the July-September 2021 projection when experts concluded that 401,000 people in the Tigray region would likely be facing famine-like conditions. For the agencies, this lack of data is of serious concern. Acute food insecurity levels are likely to have increased and could further rise beyond the Emergency and Catastrophic levels already identified in the last report.

The Horn of Africa, a region already prone to food insecurity, is now facing a third season of drought, driven by La Niña. In Ethiopia, Kenya, and Somalia, the worst affected countries, projections indicate that food insecurity will rise beyond the region’s already high levels by mid of the year. In the Sahel, a weak rainy season has severely affected crop and pasture development.

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Hope for Zimbabwe Small Pineapple Farmers After Cyclone Idai’s Rampage

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A group of 45 farmers in Rusitu Valley in Chipinge, a district in Zimbabwean eastern province of Manicaland have from December 2021 started exporting nearly 50 tonnes of their pineapples to the Netherlands.

These farmers were victims of Cyclone Idai, a tropical cyclone which hit their home area of Chipinge and Chimanimani in 2019, killing over 180 people, destroying 7,000 households and infrastructure and leaving 4,000 people food insecure. During this time, their pineapple crops were not destroyed.

Most of Zimbabwe’s prime farming areas incur heavy post-harvest losses because their produce often rots by the roadside as they struggle to secure markets and transport for their produce.

These challenges saw the the 1,300 Chipinge farmers establish the Rusitu Fruit Growers and Marketing Trust, that engaged with the country’s export promotion body, Zimtrade. Here, the farmers were offered training and technical expertise on how to grow pineapples organically and export to overseas markets.

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AFRICA

Most lucrative businesses to start in Nigeria (2022)

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In this article will look into the most lucrative businesses to start in Nigeria. That you can start with little or big capital. These lucrative businesses are very well profitable and you can start seeing profits in no time and most of all, some are not well established in Nigeria.

Starting a business in Nigeria is profitable, in 2010 Nigeria has a population of 158.5 million and that figure have risen even More in 2022 so getting enough people to purchase your product or service is not an issue.

  • Starting a business in Nigeria today gives you the opportunity to generate your own income, and also employ others, with the rate of unemployment in Nigeria, starting a business is one of the right things to do, if you know what you are doing in your business you would be generating money from your business, and also have freedom as an Entrepreneur.
  • The business ideas, we list on Antvt.com can be done both with little or big capital to start with and it all depends on how you want to start.

Most lucrative businesses to start in Nigeria (2022)

What are the Advantages of starting a lucrative business in Nigeria?

  • Gives you job security when you start your own lucrative business in Nigeria, today unemployment is one of the major problems facing the country, when you start your own business, you are not going to get fired by any boss or work tirelessly to get a raise or promotion.
  • Another reason is the opportunity for you to build your business brand. The more you promote and build your brand the bigger opportunity to become rich.
  • Also, this gives you the opportunity to create more jobs and provide ends meet to many Nigeria which will greatly help the economy.
  • You don’t need to be wealthy to start the business ideas am going to share here, the business can be started with little capital, and the rate you start begin with your capacity.
  • Nigeria has a huge population that is ready to purchase goods to satisfy their needs and wants. With a population of over 200 million people getting enough people to buy from you wouldn’t be a problem.
  • Nigeria has a favourable government policy to help your business, except for this, the financial institutions would be ready to assist you in getting loans.

Most lucrative businesses to start in Nigeria (2022)

Here are the most lucrative businesses to start in Nigeria (2022):

  1. The oil and gas business

The oil and gas business

The world still depends on oil and gas to a large extent and Nigeria is not exempted from this. The oil and gas business would continue to grow as this business remains the king among all other lucrative businesses in Nigeria and all over the world.

Here is proof that this business would continue to boom in Nigeria, you can see the way we depend so much on the oil and gas. The fuel is used to power our motorcycles, vehicles whether you are using Keke, bike or riding a car.

And we also depend on fuel for electricity, both, government, companies, individuals and businesses will continue to buy from you if you venture into the oil and gas business.

With the high increase in cooking usage, people would seek to buy gas to fill their cooking gas for cooking and in carrying out other different activities in other industries that make use of gas to power their machines, air conditioners and so on.

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Here are the business opportunities you can tape in from the Oil and gas business:

  • Distributor

This is one of the lucrative businesses in the oil and gas business, this involved bringing refiled petroleum to a country and distributing them to different sections of the country. This usually requires huge capital to start.

  • Petrol Station

Starting a petro Station is one of the lucrative businesses in the oil and gas business. In Nigeria, they are so many, cars, motorcycle, trucks and buses which depends on petroleum products to power their vehicles. Accept from this many people, companies and business owners use petro to power their generator to generate light, power their working tools and machines.
The customer potential is endless and with a few million you can start your own petro Station.

  • Gas station

In 2021 Nigeria have over 50 million gas users and that figure would ride up in 2022 as more people would leave the traditional methods of cooking and start using the gas cooker. Accept from cooking activities. Moto vehicles depend on Gas to power on their Air conditioners, Business uses gas to power on their Machines the Customer potential is endless.

This is one of the untapped businesses in Nigeria and many people only venture into the Petro station business and the Gas business. You can start with small capital and grow. You can start supplying gas to buyers, retailers or build a gas station for both either way this business is lucrative and those not cost much to start.

  • Kerosene Station

A lot of Nigeria still depends on Kerosene to power their stove and for other use. The kerosene business is still lucrative.

If you have a lot of money to venture into the oil and gas business you can have a full functioning Station where you sell all kinds of Petroleum products. Either way the oil and gas business is one of the most lucrative businesses to start in 2022.

  2.  Agricultural industry business

Agricultural industry business

Agricultural business is one of the most lucrative business that can never go extent, as long as human beings exist they would continue to demand for more agricultural products and there is long-term profit for anyone venturing into the Agricultural business.

Below are some agricultural business opportunities to tap in from:

  • Palm oil farming business

Palm oil is a lucrative business in Nigeria, palm oil is an important oil that is used for cooking, soup making and used by different agro-business in Nigeria, also you can export your palm oil produce to other countries the business chain of palm oil is very large and profit is huge.
Check out how to start a palm oil farm in Nigeria.

  • Cattle farming

Cattle farming is a lucrative business to start in Nigeria, this business has grown nationwide and continue to grow in Nigeria. The consumption of beef meat in Nigeria has doubled, as cattle meat are used in every ceremony in Nigeria, which cattle farmers have to produce a large number of healthy cattle to meet the high demand in Nigeria.
Milk is one of the substances gotten from cattle, the milk industry in Nigeria is projected to grow more in 2022 as the younger population increases. The opportunity in cattle farming is big and profit is big.

  • Cassava farming

Cassava farming is a lucrative business in Nigeria, as a lot of Nigerians depends on cassava products such as Garri, Flour, fufu and many other products, the customer potential is endless you can decide to sell to businesses, individual or process your cassava to other product which can give you a good profit. Check out how to stay a Cassava business in Nigeria.

  • Poultry farming

Poultry farming is a very lucrative business mostly during the seasons. Chicken, Turkey and other meat are consumed in Nigeria and the demand for poultry meat keeps increasing as fast food, restaurant and individuals keep needing poultry Farmers. The good thing about this is you can start with little capital.

3. Food business

Food business

The food industry business in Nigeria is an evergreen business because no matter how the economy is people still need to eat. This business can make you rich, with the right location, setup and personnel. As long as your food is Sweet and have a clean environment people will continue to come and with this, you can build up loyal customers.
This business is in demand any day, in and out of seasons. If you have a nice location, good employers and cook delicious food your business would continue to boom.
Below are the opportunities you can explore in the food business:

  • Food Franchise

One of the food businesses that keeps booming is the food franchise Business because Nigerians love the big brand. Brands like Mr Bigg’s, MC Donald’s, Chicken and Chips, Homes and so on are highly patronized by individuals and have been able to build loyal customers.
You can find a good location around you or in the cities and establish your own food Franchise Or you can look for a location with zero to little competition and buy a Franchise opportunity from these brands and you can start your own food Franchise business with their name which is already popular and have build up loyal customers.

  • Local restaurant

The local restaurant business is a lucrative business, you can sell locally made meals etc. The local restaurant is one of the booming businesses in the food industry.
If you cook good meals, maintain clean environment people would continue to patronise you and might prefer your business to other popular franchises.

4. Blogging business

Blogging business

Blogging business is one of the lucrative businesses you can start in 2022. In these days a lot of searches are made online. It is the job of bloggers to provide an answer to those searches. In Nigeria, alone millions of searches are conducted Daily.
This has even led to the birth of news media, like Vanguard, Legit, Antvt and so many other news blogs, and have replaced the old method of reading newspapers, journeys and magazines.
Bloggers income varies and they are many ways to make money while blogging.
You can start a blogging business with little capital and can scale later to hiring Seo experts, writers, webmasters and others. The earning potential for blogging is high. Read

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5. Real Estate Business

Real Estate Business

The real estate business is huge and is one the fastest growing lucrative business in Nigeria. As Nigeria population increases people need houses to rent, business owners sought for land to build their business place.
The job opportunity in real estate is huge, you can be an agent referring clients to real estate owners while you receive a percentage for referring people. You can also work as an agent by helping people find properties to buy.
You can build properties in demanding areas, you can buy lands and resell, and so more the real estate business is a mega business in Nigeria and it keeps booming.

6. Furniture business

Furniture business

Whether you like it you would need furniture, the furniture market is huge and has lots of potential buyers.
People seats on furniture, people sleep on the furniture, companies need furniture, everybody needs it the Marker is huge.
You can start a furniture store, where you make well-constructed furniture for different uses, you can also employ skilled furniture personnel to assist you.
If you are a skilled carpenter, you can make furniture products, supply these products to schools, hotels, offices or showrooms and you can also sell to individuals for personal use.
If you are not carpenters you can open a showroom where you can sell different furniture, you can source furniture from carpenters and sell. The market is huge and demand keeps rising. Read how to start a furniture business

7. Hotel business

Hotel business

The hotel industry business is huge and is among the most lucrative business in Nigeria. Nigerians patronise hotels often, either for pressure, shelter or for events. And also you can render services to people coming to Nigeria from other countries.
To succeed in the hotel business, look for a less competitive area, create events halls, pressure parks, swimming pools and have a restaurant where people can eat and drink.

8. Transportation business

Transportation business

The transportation business in Nigeria is among the lucrative business in Nigeria. With over 150 million people needing transportation means, moving to work, school, religious places, moving from city to city. Your customer reach is limitless.
You can start with little capital, you can make use of Uber, bout, and so many vehicles driving tech apps, to source for clients. You can also work as a transportation driver, from City to cites, town to town and across.
You can also start a logistic transportation business, helping people to carry goods from one place to another the customer potential is endless, and you can get payed high figures daily.

9. E-commerce business

online-business

The e-commerce business is growing at a speedy rate in Nigeria, big e-commerce brands like jumia, Jiji, Koga and others are making millions of naira daily by selling physical and digital products online.
The online media in Nigeria, is a mighty oil well, cause you have an unlimited number of people who can make use of your e-commerce brand and you can waybill the product to them.
The good thing about this e-commerce business is you can start with small capital. You can buy products from abroad cheaper and sell them in Nigeria at a higher price, you can focus on specific nitches and start to grow your e-commerce brand. The earning potential is endless and you can start with little capital.

You can also read How To Register A Business Name In Nigeria online By Yourself

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AFRICA

Nigeria: Poultry Farmers Call for Ban On Maize Export

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Disturbed by high cost of maize, a major ingredients in the poultry feeds, the Poultry Association of Nigeria (PAN), has called on the federal government to rescue the poultry industry by banning export of maize, in order to make the commodity available for poultry feed millers in Nigeria.

The association made the call in Abeokuta, Ogun State, at the 2021 Poultry Show with the theme: “De-Risking the Nigerian Poultry Industry: Stabilising Critical Inputs and Market Prices for Sustainability.”

The show, which attracted stakeholders in the public and private agricultural sector in the country, featured exhibition of products and inputs, by players in the industry.

Speaking at the event attended by commissioners for Agriculture from the six South West states, the Chairman of the 2021 Poultry Show, Mr Olalekan Odunsi, stated that poultry farmers are facing lots of socio-economic challenges which is negatively affecting the industry.

Odunsi, who lamented that insecurity, high cost of animal feeds and exchange rate had forced some poultry farmers out of business, added that the challenges had cut number of poultry farmers producing eggs, chickens and other products as many of them had closed shop.

He said “A lot of farms have closed down due to high cost of feeds occasioned by huge cost of maize and soya. While appealing to the federal government to ban exportation of soybeans and maize to allow farmers to produce for local use.

On the immediate effect of the current situation, Odunsi said people should prepare for high cost of poultry products as Christmas is approaching.

The chairman also stated that apart from the issue of maize and soya, prices of other ingredients being used in the production of poultry feeds, are on the high side.

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“What is also impeding more on poultry production is foreign exchange. A lot of things we used are imported only maize and soybeans are grown in the country, all the additives, multivitamin, medicament that we are using, we import all of them.

“Even the fish feeds, we are not producing locally, we import. So, all these are impeding very much on the cost of production.

“So, let’s brace up, but we will try our best to make sure people have good meat to eat.”

In a remark at the event, the Ogun State Government said it would continue to give piultry priority in its agricultural agenda for food security, job creation and industrialization through strategic partnership with private sector and international bodies.

The Ogun State Commissioner for Agriculture, Dr. Adeola Odedina, stated this in his goodwill message delivered on behalf of the government.

Odedina noted that Ogun State, being the largest producer of broiler and egg in Nigeria, has successfully organised broiler project, in which 45 youths were trained and made to rear 1,000 broilers each, as they made average profit of N150,000 in three cycles.

He added that, the broiler project would be replicated in all the Local Governments in the State, while the successful youths that have been made broiler ambassadors would train others.

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Odedina harped on the need to assist farmers by creating enabling environment for them to be able to produce food and raw materials towards importat substitution, quality control and local value-chain operations, to combat looming food crisis in the country.

Speaking on the theme, the Country Representative, Nigerian International Livestock Research Institute, Dr. Tunde Amole, acknowledged that there is scarcity of feed for poultry across the world due to Covid-19 pandemic, climate change and usage of maize as raw material for various commodities, including fuel.

Amole suggested the use of cassava peels as part of components of producing poultry feeds to reduce total dependence on maize, advocating for the need to bridge the gap between academia’s research and industrial operations.

Mr Olabode Adetoyi, Ekiti State Commissioner for Agriculture and Food Security, asked all the Southwest States to create enabling environment for farmers to operate.

He said Ekiti State Government has granted tax holidays and provided security to all agribusiness-based investors that are operating in the state. END

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