Please I need help.
I have 1 million. I stay in the north east now. So I need advice on the kind of business to do.. I don't want Bitcoin abeg. That's how I was broke this year because I invested 2021 . Now I don bounce back. Please I need your advice .

Pakwel:
Please I need help.
I have 1 million. I stay in the north east now. So I need advice on the kind of business to do.. I don't want Bitcoin abeg. That's how I was broke this year because I invested 2021 . Now I don bounce back. Please I need your advice .

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Pakwel:
Please I need help.
I have 1 million. I stay in the north east now. So I need advice on the kind of business to do.. I don't want Bitcoin abeg. That's how I was broke this year because I invested 2021 . Now I don bounce back. Please I need your advice .

You can give food business a try..

You see, no matter what’s happening in the world, there’s one thing that remains constant – PEOPLE NEED TO EAT. And if your product is food, people must buy no matter when, no matter what.

There are hundreds of agribusinesses you can start today. You have to conduct several researches to come up with one that is feasible, viable and suitable for you to do.

We have done the hard work for you! We conducted a series of market research and come up with twenty (20) profitable and viable agribusinesses you can choose from, that are guaranteed to make you LOTS OF MONEY.

Read on to learn about the businesses.

1. Rice Milling: One of the best businesses one can venture into in Nigeria today is parboiled rice production.

Nigerians currently consume over 5 million metric tons, which is equivalent to over 100 million 50Kg bags of rice annually. With the current population growth rate of Nigeria, the consumption of rice is estimated to reach about 35 million metric tons (700 million 50Kg bags) by the year 2050.

As it stands, the current producers of good quality rice in the country cannot even meet up to 50% of the current demand. This is the reason why the market is flooded with poorly produced and low quality rice.

New entrants into the rice milling industry that can produce good quality parboiled rice will have an evergreen market waiting to be sold to.

2. Drinking Water Production: Another good business that does very well in Nigeria is drinking water production (Bottled water and Sachet Water).

The growth of the middle class in Africa in general, and Nigeria to be specific, has led to a need for hygienically produced and well packaged food products like bottled water.

The market for packaged water is high and cut across all parts of the country. With a population of over one hundred and eighty million (180,000,000) people, and an estimated national population growth is 5.7% per annum, Nigeria has a large and sustainable market for packaged water.

3. Maize Flour Production: This is another business that you can quickly setup and make good money with.

Maize can be processed into several products including Maize Flour, Maize Grits. Starch, etc.

With few producers focusing on the production of maize flour in Nigeria, there exists a large gap that needs to be filled by aspiring entrepreneurs in the country. This supply gap will continue to grow as the population of the country grows.

4. Cooking Oil Production: The production of Cooking oil, also called Vegetable oil is yet another viable business you can quickly set up and make good money in Nigeria.

The present production level of Vegetable Oil in Nigeria is yet to meet the demand of Nigerians. There is currently a ban on the importation of vegetable oil into the country. The ban was placed in order to encourage local producers to expand their operations, and new investors to go into the production of Vegetable Oil. This has made the business very lucrative.

5. Garri Production

Garri is a common staple food widely consumed by Nigerians. Garri is creamy-white, granular flour with a slightly fermented flavor and a slightly sour taste made from fermented, gelatinised fresh cassava tubers. It is the most widely traded cassava product, accounting for more than 75 percent of produce extracted from cassava.

The annual national demand for garri is estimated to be about 1,000,000 tonnes while the national supply estimate is about 250,000.

The by-product obtained from the production of garri is called ‘cassava peels’. cassava peels are mostly used as an ingredient in the production of feeds for poultry, cattle and other livestock.

6. High quality Cassava Flour Production: High quality cassava flour (HQCF) is simply unfermented cassava flour. It can be used as a partial replacement for many bakery and pasta products. High Quality Cassava Flour (HQCF) can be used as an alternative for starch and other imported materials such as wheat flour in a variety of industries in many countries in Africa. Uses of HQCF include raw material for the production of glucose syrups, industrial alcohol and bakery products, the production of adhesives, as an extender for plywood glues and as a source of starch in textile sizing.

The annual national demand for High Quality Cassava Flour {HQCF} is estimated at 750,000 tonnes while the national supply estimate is about 50,000 tonnes.

The by-product obtained from the production of HQCF is called ‘cassava peels’. cassava peels are mostly used as an ingredient in the production of feeds for poultry, cattle and other livestock.

7. Cassava Chips Production: Cassava chips/pellets are unfermented white dried products of cassava with an average diameter of 0.8-3cm often used as a carbohydrate base in the animal feed industry particularly in Asia, Europe, America and the Middle East. It is also milled to produce flour for bakery, starch and adhesive production. Cassava chips are also widely used in the production of industrial ethanol.

The demand for Cassava Chips as an industrial product is wide. It cuts across so many industries such as distilleries, pharmaceuticals, food and most especially the animal feed industry.

The by-product obtained from the production of cassava chips is called ‘cassava peels’. cassava peels are mostly used as an ingredient in the production of feeds for poultry, cattle and other livestock.

8. Amala Flour Production: Yam (Amala) flour is flour obtained from fermented yam tubers. The flour is creamy-brown in colour, and it is used in the preparation of a popular Nigerian dish called Amala. Amala is so popular that it is served in almost all restaurants across the country.

The annual national demand for good quality amala flour is estimated to be 350,000 tones while the national supply estimate is just about 150,000.

9. Instant Pounded Yam flour Production: Instant pounded yam flour is the flour obtained when parboiled yam is dried and milled. The flour is creamy white in colour and is used in the preparation of a popular African dish called Pounded-Yam.

The annual national and international demand for Instant Pounded Yam Flour is estimated to be over 500,000 tons.

There is currently a large shortfall in supply of the product for both the domestic and international market.

The supply gap has continued to expand as the population of the country grows and as a result of the rural urban drift in the country.

10. Bean Flour Production: Bean flour is a flour obtained from peeling and milling dried beans. Beans flour is creamy in colour and it is used as a protein source in human food across the world. Bean flour is used in the preparation of many Nigerian – African dishes, including Akara (Bean cake), Moin-Moin (Boiled Bean Paste), etc.

There is high demand for beans flour in Nigeria and also in the international market. Producers of bean flour can choose to supply the domestic Nigerian market and its neighbouring countries, or choose to supply the international markets especially those regions with large numbers of Africans in Diaspora, such as Europe, America, etc.

The annual national demand estimate for bean flour is over 600,000 tonnes while the current level of supply is about 20% of the estimated demand.


You can read more about 10 other food businesses via the source link below

Source: https://planbiz.com.ng/20-food-processing-businesses-that-will-make-you-big-money/