Business Opportunities in Nigeria and Across the World

1. Understanding the Market Dynamics Nigeria's burgeoning population and increasing urbanization have escalated the demand for livestock products, thereby amplifying the need for quality animal feed. Currently, the nation's annual animal feed output stands at approximately 5.5 million tonnes, predominantly serving the poultry sector.  However, there's a significant opportunity in catering to ruminants like cattle, goats, sheep, and pigs, which are often underfed or lack scientifically formulated diets.  Experts project that the country requires over 50 million tonnes of animal feed annually to meet the demands of modernized animal farming.   identifying Raw Materials The foundation of quality animal feed lies in the selection of appropriate raw materials. Key categories include: Carbohydrates: Maize, wheat bran, rice bran Proteins: Soybean meal, fish meal, cottonseed cake, palm kernel cake Vitamins & Minerals: Bone meal, salt, oyster shells Fats & Oils: Veget...

Yes, you read it right! Shea Butter Extraction/Refinery business is another goldmine that is yet untapped. Only a few numbers of international and local organizations in Africa are players in this market. Though, the government in some African countries have also entered this market but still the market remains fully untapped. Shea Butter Production on it’s own is a goldmine as Shea Butter will continue to remain one of the foremost ingredients used in the cosmetic, pharmaceutical and confectionery industries. Today, the global shea market represents an estimated value of $2.75 billion, which is set to double within the next ten years to exceed $5.5 billion by 2033. Africa produces approximately 1,760,000 metric tons (MT) of raw shea nuts a year, and historically, most of this stayed within the African continent to supply domestic demand. The shea export market traditionally traded raw shea kernels rather than shea butter or other finished products. The shea tree is scattered across Af...

 

 

The Federal Government of Nigeria on Thursday January 19, 2023 has lifted the Export Ban on Hardwood Charcoal and Processed Wood as this ban has affected a lot of businesses and also caused many to close shops untimely. However, the ban lifted has come on the condition that all stakeholders involve in  trading of Hardwood Charcoal and Processed Wood follows the Nigeria Timber Legality Standard for Export of Processed Wood and Hardwood Charcoal. The procedure was launched the same day by the Minister of Environment, Mohammed H. Abdullahi. He discussed that stakeholders not following the Nigeria Timber Legality Standard for Export of Hardwood Charcoal and Processed Wood will be prosecuted accordingly. Also, a task force will be raised to ensure compliance by organizations involve. The most important aim of the Nigerian Government is to stop the abuse of the forest and ensure plantation of more trees to replace the ones that have been cut, at least planting 3 new trees against 1 that ...

Presently in Nigeria, business diversification is very important due to the way the economy is swaying. It is imperative to prepare for the best business opportunities in the year 2022, but some have not considered investing in agricultural/mineral commodity exportation business opportunity.  Nigeria is blessed with a lot of agricultural/mineral commodities that is beneficial to the whole world and the beauty of it is, these commodities are cheaper to buy in Nigeria and resell at a higher price in other continent of the world. Many industries and end users are seriously in need of agricultural/mineral commodities from Nigeria. Are you searching for the best business opportunity for the year 2022? Commodity export business is one of the wisest decisions you can take in diversifying your investment.  Also you can start agricultural commodities processing and packaging business. You can start with agricultural commodities like Dried Split Ginger processed into powder, Raw Shea Bu...

LOCUST bean with botanical name Parkia Biglobosa is a seasoning that has continued to reign in many homes in Nigeria and Africa. The Tree that produces Locust Beans looks similar to a Palm Tree while the Tree and it's Pod also has lots of health benefits. Locust Beans is Internationally traded in Nigeria with the HS Code 121292. Nigeria exported 35,550 US Dollars worth of Locust Beans in the year 2020. Nigeria is ranked 26th in the Exportation of Locust Beans as at year 2020. Therefore, at TOSFAT Concepts International, we are encouraging Nigerians to enter into this emerging market as this will also boost our Foreign Exchange. Locust Beans can be taken in the fresh Seed, dried Seed or Powdered Forms. Traditional procedures of producing Locust Beans has gone in a long way to limit the output of productions. Traditional Producers can not produce more than 6kg Daily. Traditional procedures involves obtaining the seed from the Pod, drying the seed under the sun, boiling the seed, dehu...