Yam Business in Nigeria a Money Spinner

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Nigeria is by far the world’s largest producer of yams, accounting for over 70–76 percent of the world production. According to the Food and Agricultural Organization report, in 1985, Nigeria produced 18.3 million tonnes of yam from 1.5 million hectares, representing 73.8 percent of total yam production in Africa According to 2008 figures, yam production in Nigeria has nearly doubled since 1985, with Nigeria producing 35.017 million metric tonnes with value equivalent of US$5.654 billion.In perspective, the world’s second and third largest producers of yams, Côte d’Ivoire and Ghana, only produced 6.9 and 4.8 tonnes of yams in 2008 respectively.

yam exportAccording to the International Institute of Tropical Agriculture, Nigeria accounted for about 70 percent of the world production amounting to 17 million tonnes from land area 2,837,000 hectares under yam cultivation.Yam, a tropical crop in the genus Dioscorea, has as many as 600 species out of which six are economically important staple species. yamkiojhh

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These are: Dioscorea rotundata (white guinea yam), Dioscorea alata (yellow yam), Dioscorea bulbifera (aerial yam), Dioscorea esculant (Chinese yam) and Dioscorea dumetorum (trifoliate yam). Out of these, Dioscorea rotundata (white yam) and Dioscorea alata (water yam) are the most common species in Nigeria. Yams are grown in the coastal region in rain forests, wood savanna and southern savanna habitats. You can start you a yam business with less than N200, 000. With yam you can’t go wrong, it generally eaten by all tribe in Nigeria.  yammhay

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Going into yam business is one of the best business you can go into, for example you can buy in bulk and supply, all you need to do is source for major suppliers, buy from them (this supplier are mainly found in the villages) and supply to retailer, you need only N200,000 to commence this business. Do you know that the production of yam in Nigeria is substantially short and cannot meet the growing demand at its present level of use?  Yam has an important social status in gatherings and religious functions as well, imagine the amount of cash you will be racking in for yourself, owning your very own yam business.

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ENTREPRENEURSHIP, INFORMATION, NEWS-POLITIC, BUSINESS
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