Success Story on Agri-Trading

 

My friend who is studying medicine in Georgia contacted me to help check out farmland in Abuja/Keffi. While in Keffi, I observed Igbos who trade on motor spare parts, would buy commodities like beans, sesame seed and store in their houses.

I saw an opportunity to buy commodities and send them down to my location in Asaba, as well as engage in storage with 100k I had. I also started placing adverts on agro commodities and several company agents would request for one commodity or another and in my quest to get those commodities in large quantities at an affordable price, I traveled to many rural villages in Nasarawa and Kaduna.

Some agents would buy, while some would disappoint. Yet I kept on pushing. At one point, I considered leaving Nasarawa and permanently relocating to Niger state when I gathered information that logistics is easier and you can find commodities in large quantities over there.

Let me digress a little bit. Prior, to moving to Abuja/Keffi, my family members were really scared because of the insecurities they often read over the news. Infact, no day passes by without speaking with one member of my family to confirm to them I am still alive.

I moved to Niger state after a northern friend of mine invited me. I boarded a bus from keffi to Lambata, from Lambata to Minna and from Minna to Kainji.  While enroute, I couldn't connect to my friend anymore, his number was switched off. I reached Kainji by 11pm and lodged in a hotel.

The next day, I tried reaching my friend, yet his line wasn't connecting. Hmmm, it was a frustrating journey. I began to think about what to do next. Immediately I remembered while speaking with him, he mentioned a particular army barrack and a police station and his house being close by.

I took my bath, ate food and boarded a bike. I stopped about 5 bikes before I could find a bike man who understands English or pidgin, when I arrived in the vicinity, I asked an Igbo man if he knew so so person and he said yes. He took me to his house. My friend was shocked to see me, he has been so worried.

His phone got spoilt, reasons why I couldn't reach him. The next day, my market research began. I traveled to different markets, big and small, even down to villages in Benin republic that share boundaries with Nigeria. Language was really a big barrier for me. It wasn't easy at all.

All my research activities took me 2months and by then I had rented my own apartment. There you could see company suppliers coming on a daily basis to buy commodities and conveying them with big trucks. Is it Soybean you need, or sorghum, millet, maize, cow, goat, sheep?

You will find them there, being a direct company supplier requires huge funding and they buy by kg. You should be able to at least supply 10tons upwards to make a good amount of profit. A ton is 1000kg and so, 10tons means 10,000kg.A bag of each commodity should be able to contain 100kg. Each kg could cost 300naira or less and then times it with the number of kg required Company purchasing price is not always static.

Each week, they come up with a new price, either it increases or decreases. Sometimes, Company terms of payment differ from company to company. Some pay within 48hrs, while some pay within 1 week, while some would say two weeks. I have always wanted to set up a cooperative society where members can pull resources together and make a supply and then share profit together.

Members can also decide to buy industrial commodities like Soybean during surplus, store and preserve it and then supply to companies when the price has appreciated. I am your favorite farm produce storage Expert.

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