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How to venture into a profitable groundnut business in Nigeria



On this article we are going to look at the guidelines and steps on how to start groundnut business in Nigeria. This article is actually going to give you a comprehensive breakdown of the various steps and what it takes for you to start groundnut business here in Nigeria. Without been told groundnut is really an essential and highly economical crop with huge nutritious value. There are several ways groundnut is use, the groundnut seeds can be crushed to extract the oil which can use for many purpose like deep frying, the formation of pomade when mixed with other substances, etc.
Furthermore, there are a lot of health benefits of groundnut such as fighting stomach cancer, protection of the skin, growth enhancement, fighting against heart disease, fighting of nerve disease, acts as anti-oxidant, it reduces the chances of stroke, etc.
According to statistics Nigeria is currently producing more than 1.55 million metric tons of groundnuts per annum. Actually this figure has ranked Nigeria as the highest producers of the crop in entire Africa and also making them to sit as the 4th position in the world groundnut producers ranking.

Some years ago some parts of Nigeria really depends on groundnut as their main source of revenue, most especially the northern part of Nigeria and the middle belt. These parts of Nigeria where the major producers of groundnut and these area became developed from the funds acquired from groundnut importation and internal sales, now this has changed because of the over dependent on crude oil. Despite this, groundnut business still stands out as one of the most lucrative and profitable business in Nigeria as most people who are into this business make a lot of income from the business, selling it in a raw state and also in processed form. Statistics has also shown that groundnut farmers most especially in the northern and middle belt in Nigeria harvest as much as five metric tons of groundnut per hectare of land but same cannot be said about groundnut farmers in the south and east as well as west as the soil in those areas seems not to be a little bit deficient in nutrient demanded by this crop.

Research has actually shown that groundnut tends to do very well in arid or semi-arid areas which is why most of the products in circulation are cultivated in places like Kaduna, Adamawa, Benue, Kanu, Taraba, Bauchi, and Borno. Although other places like Akwa Ibom, Cross River, Edo and Ogun still produce some good quantity of groundnut but not really as much as those once I earlier mentioned. Below are the steps on how to start groundnut business here in Nigeria:

      1. Start by learning how to fry groundnut: Before you venture into this business you really need to learn and be perfect in frying groundnut. This can be done either by going for a formal practice or just seeking advice from experts in this field. Whichever ways you choose just know that doing so will really give an insight into what you intend doing and it will not take you much time learning it.

      2. Get a good location: Almost 80% of Nigerians consume groundnut, but getting a location that has good population is really an added advantage to you. Although you can start the business wherever you are then with time move it to high populated places. You can move it to places like schools, major streets, motor parks and even supplying supermarkets.

     3. Purchase the groundnut and start frying it: As you are new in the business you don’t need to buy a very large quantity of groundnut, you can use this first time for testing and observation. The following are the step by step on how to fry groundnut if you have not fried groundnut before.
-         You need to wash the groundnut with water and then remove it in less than a minute (actually some people prefer to sprinkling water, claiming it makes the groundnut taste better)
-         Then add some salt to it.
-         Just spray it and allow it to dry properly.
-         Then you need to prepare your fire and pot (you can use a flat button pot or big fry-pan)
-         Then you need pour some cup(s) of garri or sand and allow it to heat up properly.
-         Then pour the groundnut until it is done (usually looks somehow brownish in color)
-         Then pour it out and allow it to cool a bit
-         You can now tie them with waterproof or whatever container you want to.

The truth is that there are many groundnut sellers out there, the question now is how do you break into the market and beat your competitors? What you need to do is to create some strategies.

You can start by reducing the price of your groundnut and decide to make a minimal profit at the beginning or perhaps increase the quantity in each sachet or bottle. Doing this will really help you by bringing a lot of customers to you at the beginning.

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