In this post, you’ll be going through the full guide on how to begin your ogbono business in Nigeria and make money. I really hope you would find this guide useful in kick-starting your business. Agriculture has been a very important aspect of Nigeria’s economy especially now that the oil sector is crumbling due to the lower demand from the international community in order to protect the environment of gases.
Nigeria is trying to diversify the economy that is why agriculture is looking more like the escape route and the more lucrative venture for those to get on board on time. after the recession happened in Nigeria and Nigerians took it upon themselves to go into agricultural and small-scale or large-scale depending on your capital and target. while some are into commercial agriculture some are also into subsistence agriculture some others even go beyond to export this product outside the boundaries of Nigeria.
with regards to this business in Nigeria, it is a very lucrative and profitable venture because this area is untapped and unexplored.
Ogbono business is known to be a very juicy venture which can provide you with a steady income flow. Back on 12th January 2017, it was published on the daily trust newspaper that the Federal government has mapped out its 86.5 million naira that will be spent on the cultivation of ogbono seeds in Nigeria.
The reason being that it was noticed that Europe and the USA was a great potential market for export. that alone should make it clear to you that if the Federal government can shift its focus to this business with such a huge project that it is going to be very profitable.
This business is making people become millionaires that is why some people have taken a full step to venture into it. one secret you might not know about this business is that this Ogbono seeds grow in all parts of west African countries but you can always see them mostly in countries like Cameroon, Nigeria, Ghana, Guinea, and Sierra Leone.
The back of the seed is greenish in color but when it ripens it becomes yellow it is when you break the seed that the end product is called Ogbono. This seed is consumed the most part of the West African countries so you shouldn’t think it is only consumed in Nigeria.
in Nigeria, you can always find it mostly around the South Eastern and south southern part of Nigeria these are places like Ebonyi, ado, obudu, Edo, and Ijaw. it is also present in other parts of the country it is just that these parts that are mentioned are where you can find it in commercial quantities.
You should also be aware that ogbono is known to be a seasonal cash crop that is mostly grown for consumption. it is very expensive in comparison to other ingredients that are used in making different soups.
Let’s say you use the same measurement to go to the market to get a cup of melon, you can get that for N150 while the same measurement can get you ogbono for N600.
Types of Ogbono
- Real ogbono
you can only differentiate between these two by their drawing power in the soup. The real ogbono seeds a very good mostly for medicinal and consumption purposes while the one that is extracted from the ugiri plant can only be used for consumption it is only those that I have been in the business with good expertise for a very long time that can distinguish between them.
Uses of Ogbono
It is very important that you know your onion before you go into any line of trade. That is why I will be giving you the uses of the products that you are about to venture into.
- They are used in making soup
- these seeds are being used by the pharmacist to produce weight loss drugs.
- It helps in controlling one’s weight.
- It is also edible just the way mango is. That is probably why it is referred to as Bush mango.
- it contains minerals and vitamins which are very essential to the human body.
- It is also used for cream production for the skin by the cosmetologist.
Capital needed to start ogbono business
This business does not require high amount of capital it can be easily started up with any amount you have ready but if you want to venture into this business as a wholesaler then you should have at least N200,000 to invest in it. This is because you will be sourcing for the seeds around Nigeria.
if you want to be buying from other west African countries then you have to add more money because of the exchange rate and transport fare that is required in doing the business. If you are purchasing doing the season of this cash crop then with that amount you can get up to 3 bags. While you improve you can always buy as much as you want.
The profitability of ogbono business
There are lots of profit and benefits in this business but you have to be wise in order to play your game well. for you to make money in this line of business you have to buy durian the season and sell it or doing the scarcity. That way you will make a whole lot of money. Let’s say you have an ogbono bag which you bought for 100,000 and you measure out 17 buckets from it and sold them for 10000 naira each. If you minus your expenses then you should have at least 50% profit and with that, you can make a lot of money weekly buying extra bags for sale. So the more bags you have the more money you have.
When the seeds are ripe they fall off the trees on their own so you can eat that let them get eaten or get decayed so as to get the notes which are more important. you can bring the nuts with stone or hard object when they are dry then remove the seed from the inside from there you can sell the seeds during the scarcity period.