In this article, we shall be discussing on how to start yam business in Nigeria this 2023. One of the most lucrative food businesses to venture into is the yam business as almost everyone in the country consumes yams. Whether you are cooking, pounding, frying, roasting or processing yam into flour, you will agree with me that this particular farm produce is one of the most loved and most consumed foods in the country presently.
Yam business in the country has got many young people interested and this is due to the fact that it guarantees really good profits and if one is very lucky in this business, they can sell their yams in record time and restock to continue selling at really great prices that ensures more profits are made to keep sustaining the business.
WHERE TO GET YAMS FOR YOUR BUSINESS IN NIGERIA
If you want to start yam distribution business in Nigeria, whether for the purposes of selling or exporting to other neighbouring countries, there are places in the country where you should look to purchase your yams as these places are where you can find some of the best yams in Nigeria. Benue, Niger, Taraba States for example, are some good places to buy cheap quality yams, and you may want to look out for suppliers from those places. There are yams in Delta, Lagos and Port Harcourt as well but they may be more expensive but if you have the means, instead of travelling very far for your goods, these places around you can serve you with really good yams as well.
In Benue State, one very popular place to get yams in commercial quantity is Zaki Ibiam yam market. This is the largest yam market in Nigeria. Many people from different parts of the country go to this market to buy yam for commercial purposes and you can buy as many as you want in the market over there. The yams are sold in batches of 100 known as Kwarai. This means that 1 kwarai is equal to 100 yams. Other great places to find good yams in Benue State are: Gboko and Ugba International Yam Markets respectively, and yam species you can find there are Agatu, Gbango, paper yam etc. Gbango is widely believed to be the sweetest yam but it more expensive than the others.
In Niger State, you can get quality yams at cheap rates and sell at great prices. Sometimes, if you reside in the State, you may even decide to stock it in your storage space after purchase and sell when the planting season is approaching so as to make excellent gains in the process. Garatu Market, along Bida-Minna Road, is a very large market in Minna, the Capital City and you can get yams in bulk over there. People from most parts of the country visit this market to purchase from the farmers over there. Their market day is every Thursday.
You can also purchase yams at Zungeru Market, their market days are Wednesdays and Sundays, while at Kateregi Market, along Bida-Minna Road, you can be sure to get cheap, quality yams as well. Market days at this particular market occur every 4 days interval. Other yam markets in Niger State include the following: Serikin Pawa, Pwada, Kuta and Beji respectively.
Another very good place to source for yams in bulk for your business is Taraba State. This State has some of the best yam species in Nigeria and it is cheap to purchase there as well. When considering possible places to source your yams from for your business, Taraba should be on the list.
In Nasarawa State, there is the Agyeragu market located in Lafia, the State Capital where you can purchase good yams for your business. Bwari market in Abuja is also another great place to buy cheap, quality yams as well.
Oyo State is another place to source for your yams when considering this business in the south western part of the country. You can buy yams at Odo-Oba Market, along Ogbomoso-Oyo Road at affordable prices. Saki is another place in Oyo State to consider getting your yams from. Saki Town is known as the food basket of Oyo State and you can be sure to get the quantity of yams that you need at this place.
In Lagos State, places to buy yams include large markets like Oyingbo, Iddo, Mile 12 and you can be sure to get large quantities of your desired yam species from any of the markets listed. There are other markets in the State where yams are sold in commercial quantity but the above listed Lagos markets are the very popular ones.
One of the things to consider when venturing into yam business in Nigeria is the actual type of yam that is consumed by most people in your locality, as well as the price so that you do not make mistakes in buying some other type or species, and run into losses.
Ogoja yam is the most consumed in places like Akwa Ibom State and the surrounding States, and in many parts of Lagos State, Abuja yam is among the most preferred type due to the fact that it is very suitable for making excellent pounded yam when compared to other types and it is sweeter than most other species, these are some of the reasons many aboki traders stock it because it sells faster than the others. Ilorin yam from Kwara State is also very palatable and has a good market in Lagos as well.
WHAT IS THE COST OF STARTING YAM BUSINESS IN NIGERIA?
Yam business in Nigeria can be started with any amount. You can start with ₦18,000 – ₦20,000 and slowly grow your business to what you want it to be but if you have from ₦100,000 upwards, you are sure to earn more in profits and restock as soon as possible. Prices are not fixed and are subject to change; this is dependent on the forces of demand and supply as well as the rise and fall of the exchange rates in the country at a particular time.
HOW TO START YAM BUSINESS IN NIGERIA 2023: STEP BY STEP GUIDE
Below are the step by step processes involved in starting yam business in Nigeria this 2023:
STEP 1: DO A FEASIBILITY STUDIES/MARKET SURVEY FOR YOUR YAM BUSINESS
In order to start up your yam business in Nigeria, you will have to do a feasibility study and market survey to know the merits and demerits of setting up your business in a particular area, as well as understanding the type or species of yam that the consumers in a particular area love to purchase so as to draw up an action plan on how to sell your products when you eventually start the business.
STEP 2: GET YOUR CAPITAL FOR YOUR YAM BUSINESS READY
Any business venture will need to be financed and your yam business is not exempted from this. You should get your capital ready and inject it into the business and this is after you are certain of the amount needed to start and sustain the business. As earlier mentioned, if you want to start small, ₦18,000 – ₦25,000 depending on the area you are located should be enough to get you started and as time passes, you grow and inject more money into the business. If you want to start large and you have enough space to keep your newly purchased yams for your business, then ₦100,000 and above should be good to launch your business.
STEP 3: REGISTER YOUR BUSINESS
Many people fail to register their business when they start it, but in the long run, it helps to register your business with the appropriate bodies and market associations as genuine so that your customers will be assured that you are the real deal.
STEP 4: GET A GOOD LOCATION FOR YOUR YAM BUSINESS
In as much as you want to sell your products, one of the best ways to do that effectively is to find a great place that encourages the business to thrive. You should have taken care of this during your feasibility studies and market survey.
STEP 5: CREATE AWARENESS FOR YOUR YAM BUSINESS
By advertising your business to the right people, you are sure to get your customer base. Ensure to employ the various channels of advertising to push your products to the people out there who may need it so that you can be counted as one of the authorities in the yam business with time.
NOTE: Are you in Lagos State and are interested in buying quality Abuja yams at affordable prices, if so, contact Inspire Foods on 08034354590 and get the best deals. They are also into nationwide yam deliveries.