Most homes in Nigeria cannot do without the use of Palm oil in cooking most of their soups and food.
Palm oil is also, an important raw material used in manufacturing companies for producing butter, margarine and other consumables products.
The high demand for Palm oil both for industrial and domestic use in Nigeria has made Palm oil supply a very lucrative business.
With less than N100, 000 you can conveniently start Palm Oil supply business and make at least N1500 in every 25liter keg of Palm Oil sold say in Lagos, Abuja and in other big towns and cities in Nigeria.
The cost of selling a 25liter keg Palm Oil in most markets in Lagos and Abuja is about N7000, where as you can get better palm oil of the same quantity of for just N5500 in states like Edo,Cross Rivers, Benue,Imo,Delta e.t.c.
To start Palm oil supply business easily, below are the steps to follow.
1. To make your Palm oil supply business a legitimate venture, try register a business name with corporate affairs commission of Nigeria C.A.C. (Though not compulsory but very necessary if you desire to make big money supplying Palm Oil to big companies like PZ Nigeria plc,Uniliver Nigeria plc e.t.c)
2. Source for required startup capital. This you can get through your bank savings, borrow from friend co-operative societies, micro finance bank e.t.c
3. Get a space to store your palm oil. You either rent a shop or look for free space in your compound to store the palm oil.
4. Purchase the 25liter kegs or drum to be used in conveying the palm oil from the point of purchase to storage and to where you want to sell them.
One 25liter keg cost between N450-N550 in the open market.
5. Get contacts addresses of sellers of cheap palm oil in Nigeria and negotiate price with them.
6. Find out the easiest and cheapest means of transporting your palm oil from the point of purchase to your destination.
NOTE: Most of the palm oil being sold in our markets today is adulterated with all manner of substances the harmful just because some people want to make huge profit at all cost.
To standout you must try to always sell quality palm oil to your customers with this you are sure of getting loyal customers who will continuously place order for your palm oil.
Through reading this article I believe you now know how to go about starting Palm Oil supply Business in Nigeria. Also to get maximum benefit of this business, you will need to take bold steps in implementing the ideas gotten from this article.
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