Nigeria News
Major Reasons for Investing in Rice Distribution Business
Starting a rice distribution business in Nigeria can be a better way of making Millions of Naira. In this article, I will walk you through the major reasons for investing in rice distribution business.
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Major Reasons for Investing in Rice Distribution Business
- Rice is not a perishable food like vegetables, if water does not get to it and it is placed on wooden pallets, it will take at least 4 years for the rice to get spoiled. Within this period, there is no way you cannot sell your stock of rice.
- Nigeria is Africa’s biggest economy. The population of Nigeria is 170million people and by the year 2021, it will be about a 200million people.
- The statistic shows that about 22million bags of rice is consumed every month. So there is a big and growing market for rice in Nigeria.
- There is always a ready market in almost any locality. If you go into the business as a wholesaler, you will always find many retailers around you, who will patronize you regularly.
- Rice is an essential commodity, almost like salt and sugar. No wonder even billionaire businessman Aliko Dangote is investing $1billion in integrated farming. You can hardly go wrong with this business.
Have a blessed day!
