Agricultural Commodities Supply Business Opportunities in Nigeria
The high cost of sourcing foreign exchange for raw materials importation currently being experienced by manufacturers in Nigeria have created a fast money making opportunities for indigenous producers and supplies of agricultural commodities in the country.
agricultural commodities as local substitutes for imported raw materials.
The supply of agricultural raw materials to manufacturing companies in Nigeria has indeed become a profitable business opportunity that has made many suppliers millionaires.
Steps To Start Agricultural Commodities supply business
Just pay a visit to the premises of major manufacturing companies like Guinness, Nigeria breweries, Dangote group, Cad bury, Nestle and Unilever etc, there you will see a lot of suppliers on daily basis bring in trailer/truck loads of locally produced agricultural commodities that is worth millions of Naira. And on the average, each of the registered supplier can be given contract to supply at least Five or more truck loads of agricultural commodities per month and of which he his sure to receive payment when supplies are completed.
Commodities Supply Business Start up Requirement
To start getting agricultural raw materials supply contracts from manufacturing companies in Nigeria you will need to fulfill the following requirements.
TYPE A LETTER INTRODUCING your supply business and send to the admin department of manufacturing company for consideration and approval.
COMPANY REGISTRATION. Attached to the letter of introduction is photocopy of certificate of company registrations because you will be asked to provide it. So, make you have duly registered your supply business with the corporate affairs commission of Nigeria (CAC). A limited liability company is preferable.
REGISTRATION FEES. Pay the required registration that will qualify to be a recognized supplier in the company. Some company may require that you pay some certain amount of money as part of the registration requirement before they can allow you to supply raw materials to their company, so take note this.
OPEN A BUSINESS ACCOUNT. Also you need to open a bank account in any commercial bank in Nigeria for your business, to enable you receive payment for work done in bank cheques. This account is usually a current account.
SOURCES OF RAW MATERIALS. To make enough profit from your supply business, you must be able to find out places in Nigeria where you can easily source for quality and cheap agricultural commodities. And this you can do by having direct contact with farmers in the villages and major commodity markets around the country. But, to be specific, maize, yellow sorghum and soybean can found in abundance especially in states in the North while Cocoa powder and palm kernel oil (PKO) can sourced easily in states in the south-west, South-East and the in south-south region of Nigeria.
Further more, to ensure you get regular contracts in these companies please do the following.
Ensure you supply quality agricultural commodities and donâ€™t cut corners.
Always try to meet up supply deadline and be nice to every one working in that companies you do supply with, from the gate men, cleaners and up to managers. They hold the key to the success of your supply business so, watch out.
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I wish you the best of luck in all your endeavors in life.