With the aim of helping new entrepreneurs to explore business opportunities in the agricultural sector, a firm, Sunyprofit International Limited, held a workshop on agri-export business. DANIEL ESSIET reports.
Nigeria’s economy has witnessed a steady revival in agric entrepreneurship growth, with many agro entrepreneurs venturing into promising areas of commodities business. These include fruits, grains, vegetables and food processing.
One entrepreneur who has succeeded in agro commodities business is the Chief Executive of Alpha Oceanic Limited, Adeleye Friday.
Adeleye, who spoke at the agro commodities and investment summit, organised by Sunyprofit International Limited in Lagos, at the weekend, said there was a growing market demand for cassava for commercial and industrial use.
For instance, he said, root starch is demand by food and beverages companies. He also noted that cassava could be used for pharmaceuticals, as well as feedstock for the production of ethanol biofuel.
His mantra is simple: collect produce from the farmers throughout the year, add value through processing, and sell them at a profit. He provided a sustainable market for farmers to sell their produce and more importantly, using up all resources that once used to perish.
Cassava processing, he further said, is among the areas with huge potential for entrepreneurs to make good money.
Adeleye, a proponent of small business growth, encouraged entrepreneurs to improve the quality of their produce to better compete in the market place.
He is championing an initiative to help entrepreneurs explore business opportunities in agriculture and connect to markets across the globe.
The Chief Executive, Sunyprofit International Limited, Mr Sunny Anjorin, said entrepreneurs or traders can earn good profit through agric export business.
Anjorin however explained that many entrepreneurs are ill equipped to take advantage of the opportunities provided by agric export trade.
According to him, lack of capacity and the inability to meet technical produce specifications and stringent requirements in terms of quality, safety, health and the environment impede their integration more Nigerians into global markets.
He said entrepreneurs often have limited access to resources, especially financing. This impedes their ability to scale up to meet increased demand, proper market produce and grow their businesses.
Anjorin said making money from exports depends on building the nations reputation for food safety systems and quality raw materials.
He stressed the need to explore online and offline information on the right international markets for exports, adding that reviewing available data allows entrepreneur to assess which markets realistically fit with their overall strategic direction.
While there are opportunities in agric business, he said entrepreneurs needed an overview of the export business, registration process, payment terms, advance payment, export incentives, custom procedure, import management and banking and finance.