Economy
How to Make Millions Producing Garri in Commercial Quantity
By Darlinton Omeh
Garri production is a very big business that is churning out millions of Naira for those doing just the ways it should be done.
The investors with the right machinery are making real money producing this essential commodity in some great quantity to serve the market that is far from being saturated as the demands of it continues to increase.
It is a viable business because it is one of the most widely consumed food in Africa and beyond. As the population of Africa continues to grow along with its economy, likewise the demands of staple foods like garri continue to match up with it.
In Nigeria today, there are both big and small scale garri producers that are making fortunes with the business and are living the comfortable lives of their choice. They are not looking at the business as anything that could dwindle any time soon because the rate of interests in larger quantity production of it is not threatened at all.
So in this post, we will be providing you some step by step guides on how you too could have your share of the millions that are already being made by those into the business.
We have to do this because with the right kind of knowledge on how to produce garri in greater quantities, a serious investor stands the chance of raking in millions and could exceed his greatest imaginations base on is possible with garri business.
Starting A Garri Production Business
To start with, Garri is a product of cassava which thrives in African soil due to good tropical climate. Even when other farm produce fails, cassava is very sure to live up to expectations in bringing good harvest to the farmers.
There are so many ways to convert the produce of cassava into different foods in Africa which garri happens to be the most among the list and its accepted throughout Nigeria as a common food for all. Put simple, garri is a common man’s food.
Sometimes and no matter how intense the economy is or how hard other food commodities may be to obtain in the market, the common question from caring relatives or others are usually, ‘Hope you are eating garri or ebba?’as its otherwise called. Just to show you how sure and affordable garri is.
Garri is very common and that has affected its prices for a long time now and making it to be stable. At least, close to 80 percent of cassava produce are processed into garri just to show you how high the demands of garri is around within the country not to talk of having it exported to other countries which those who met the stringent exports requirements are doing.
You may not have to concern yourself over that because you can still make it big producing and selling it locally and even contact those exporting it to be buying from you if are sure of enough quantities and best processed products.
If you have interest in garri production, here are some tips to guide you into making it a reality as you are sure to have your millions to show for it.
For any serious entrepreneur to go into garri production, he may have to invest in cassava production which in its own is a profitable farming in Nigeria.
But if you are sure of having a steady supply of cheap and fresh cassava tubers, then you can still make it without your own farm.
Another important thing to keep in mind is that cassava is a perishable item and if left for a long time it may get spoiled and that would affect your end product; because of that, always have the time frame in mind whenever you are placing order for a fresh supply or going to the market to buy yourself.
You also need to understand that there are varieties available in the markets and so make yours to be in line with what is preferred locally and in various demands too in case you have different markets with different taste traditions in mind.
For instance, if you taste a Yoruba made garri and Igbo version, you are bound to notice some major and minor differences just like you would of a Togo and Ghana garri.
The guideline is to know what appeals to your market, if not one may end up with the right product in the wrong market.
In Nigeria, one may have the options of producing garri with varying methods and have it taken to the market for sale but among these various methods of productions, manually produced garri usually last longer than quickly made ones which contains moisture and starts getting bad as soon as it’s bagged, but the downside of this methods of production is that it doesn’t pass the international standards and are not fit for exportation.
If you want garri to last for months without any form of degenerating, then take time to prepare yours by making sure that there is no moisture contents in the finished products which can be achieved using machine production.
Instead of just going the markets and buying finished products for sale which may not meet the preferred standards, if one could spare the time and effort in having it produced properly even if it costs higher, you will be assured of having regular buyers that prefers good and well processed garri for distribution to markets of interest.
For those that could afford it, investing in cassava processing machinery could go a long way in having quality end products in market and that gives the person peace of mind while selling it because those who are dealing with quickly processed ones are usually in a hurry to have theirs sold off before it begins to spoil in their hands, but if you are known to be having good quality of well processed garri in the market, that has the capabilities of positioning you well even before the exporters to the foreign markets.
Since every other things are going technological, garri processing is not left behind. Before now and still, there are those who are still using the old and crude methods of processing garri, which many say is economical, but in terms of hygiene, it scores zero.
There are now some machines in the Western parts of Nigeria which takes up the process of cassava tubers on the arrival at the plant and have them turned into hygienically ready to eat end product of garri.
One stands better chances of having this done perfectly, if one is into the farming himself, which is not all that hard as explained here.
Go for this modern tech in garri productions as it is sure to take off manual labour and give you the best of what you want. Garri production is a serious discussion on the internet and offline because people are just waking up to the realities of what are achievable with good production of well processed garri in the market.
Farming has been discovered to be the number one investment that many people can be in and still not be able to satisfy the market demands. Garri is such that no matter how much you are able produce it, once it’s of some high qualities of internationally acceptably standards, you are sure to be shaken hands with full time exporters that are into millions themselves and which you would become by having business dealing with them.
By Dipo Olowookere
The International Monetary Fund (IMF) has said despite the economic reforms of the administration of President Bola Tinubu, poverty and food insecurity remain high in Nigeria.
The global lender said this after the conclusion of its 2025 Article IV Consultations with Nigeria from April 2 to 15 in Lagos and Abuja.
Officials of the IMF led by the mission chief for Nigeria, Mr Axel Schimmelpfennig, held talks with senior government officials, including the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of Agriculture and Food Security, Mr Abubakar Kyari; and the Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso.
Others were senior government and central bank officials, the Ministry of the Environment, the private sector, academia, labour unions, and civil society.
In a statement made available to Business Post by the IMF, the federal government was praised for its reforms as well as the central bank for stopping the funding of budget deficits through ways and means.
“The Nigerian authorities have taken important steps to stabilize the economy, enhance resilience, and support growth.
“The financing of the fiscal deficit by the central bank has ceased, costly fuel subsidies were removed, and the functioning of the foreign exchange market has improved. Gains have yet to benefit all Nigerians as poverty and food insecurity remain high.
”The outlook is marked by significant uncertainty. Elevated global risk sentiment and lower oil prices impact the Nigerian economy.
“The reforms since 2023 have put the Nigerian economy in a better position to navigate this external environment.
“Looking ahead, macroeconomic policies need to further strengthen buffers and resilience, while creating enabling conditions for private sector-led growth,” the statement said.
By Adedapo Adesanya
The Securities and Exchange Commission (SEC) is moving to apply a more forceful and coordinated enforcement regime against unregistered and illegal “phony” investment schemes, otherwise known as Ponzi schemes.
This is coming after Crypto Bridge Exchange (CBEX) reportedly crashed, leading to many investors unable to withdraw their funds.
The issue has drawn wide conversations around the unchecked activities of Ponzi scheme operators until it is too late to cry when the head is cut off.
The Director-General of the SEC, Mr Emomotimi Agama, said this in a statement that the commission never granted registration to CBEX operate as a digital assets exchange in Nigeria.
He urged members of the public to cease all dealings with the platform.
CBEX, operating under various names, including ST Technologies International Ltd. and Smart Treasure/Super Technology, asked the public to invest in its schemes for higher returns.
“The commission hereby clarifies that neither CBEX nor its affiliates were granted registration by the commission at any time to operate as a Digital Assets Exchange, solicit investments from the public, or perform any other function within the Nigerian capital market,” he reiterated.
He said that preliminary investigations carried out by the agency had revealed that CBEX engaged in promotional activities to create a false perception of legitimacy, noting that this was to entice unsuspecting members of the public into investing monies, with the promise of implausibly high guaranteed returns within a short timeframe.
The SEC chief emphasised that pursuant to the provisions of Section 196 of the Investments and Securities Act 2025, the commission would collaborate with relevant law enforcement agencies to take appropriate enforcement action against CBEX, its affiliates, and promoters.
“The commission uses this medium to remind the public to refrain from investing in or dealing with any entity offering unrealistic returns or employing similar recruitment-based investment models.
“Prospective investors are advised to verify the registration status of investment platforms through the commission’s dedicated portal: www.sec.gov.ng/cmos before transacting with them,” he said.
Mr Agama said that with the newly enacted Investments and Securities Act, 2025 (ISA 2025), the commission now had enhanced powers to prosecute Ponzi schemes and their promoters.
He explained that investigations were ongoing on CBEX, adding that promoters of the failed scheme would not go scot-free.
The SEC DG also said the new law had given the commission more powers and blocked loopholes in emerging areas of virtual and digital assets.
“The ISA 2025 has given the commission the legal backing to provide clarity, ensure investor protection, and enhance market confidence, especially in new and previously unregulated segments such as digital asset exchanges and online foreign exchange platforms,” he said.
He added that while the apex capital market regulator would continue to support innovations in finance and investments, the commission would maintain strict oversight in line with its enhanced investor’s protection mandate.
“We welcome innovation, but it must occur within a regulated environment that protects investors and maintains the integrity of our market.”
He recalled that even with the limited scope of the repealed Act, the SEC had maintained extensive surveillance and was able to shut down a number of Ponzi schemes, with some of the promoters, like Fahmzi Interbiz, jailed for defrauding Nigerians.
According to him, with the ISA 2025 giving the commission more powers to deal with issues, the commission will ensure that promoters of such schemes are not allowed to operate.
This comes after the Economic and Financial Crimes Commission (EFCC) also announced that it is investigating the development.
By Adedapo Adesanya
The Nigeria Sovereign Investment Authority (NSIA) has reported that the country’s sovereign wealth fund grew by 56 per cent from an initial $1.82 billion in 2011 to a net asset value of $2.84 billion as of December 2024.
According to a statement, this demonstrated strong financial stewardship and investment strategy over the past decade.
NSIA Managing Director, Mr Aminu Umar-Sadiq, disclosed during a media engagement in Abuja, where he presented the Authority’s 2024 financial earnings stated that the Authority had strategically allocated its assets to safeguard against economic shocks and deliver sustainable returns.
The NSIA documents revealed that total assets increased by 96 per cent from N2.26 trillion in December 2023 to N4.42 trillion in December 2024.
He noted that the growth was driven by higher returns from associates and joint ventures, net gains from collateralized securities, and foreign exchange gains due to Naira depreciation.
“For over a decade, NSIA has successfully executed more than 150 investments across Africa, reinforcing its commitment to regional economic development,” Mr Umar-Sadiq said.
He explained that the NSIA operates three ring-fenced funds: A 20 per cent Stabilisation Fund to support the economy in times of distress, 30 per cent Future Generations Fund, designed for long-term investments, and 50 per cent Nigeria Infrastructure Fund, focused on domestic infrastructure projects.
The Key highlights of NSIA’s 2024 performance include: “Over $500 million committed to domestic Infrastructure, more that $1 billion catalyzed from third-party investors.
“Robust infrastructure portfolio in agriculture, healthcare, and power, Investments in over 50 per cent of locally owned private equity funds, Operating Income: N1.85 trillion, Profit After Tax: N1.89 trillion.
“Total Comprehensive Income: N1.89 trillion, Return on Average Assets: 12.2 per cent and Return on Average Equity: 12.4 per cent.”
The NSIA also announced its phased exit from the fertilizer blending sector, following significant progress since 2017.
From just four operational blending plants at the outset, the number has grown to over 90.
“With the recent removal of the FX ban on imports by the CBN Governor, the sector is now liberalized with vibrant private participation. NSIA’s continued involvement is no longer necessary,” Mr Umar-Sadiq said.
He explained that NSIA’s intervention was always intended as a temporary measure to revitalize the sector. The authority started by fully managing supply chains and operations for blending plants but gradually reduced its involvement as plants became self-sufficient.
“In the next two to three years, we expect a full transition. Our focus was to enable the sector to stand independently—not to remain a permanent player,” he added.
Speaking about the potential impact of US President Donald Trump’s policies on NSIA’s portfolio, Mr Umar-Sadiq emphasized the Authority’s defensive asset allocation strategy.
“Our Stabilisation and Future Generations Funds are designed to protect on the downside. While we may not always maximize gains during market booms, we ensure stability during downturns, which aligns with the savings mandate of our sovereign wealth fund,” he said.
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