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.
Economy
Heavy Sell-Offs Weaken NASD Index by 0.64%, Erase N16.5bn from Market
By Adedapo Adesanya
NASD Over-the-Counter (OTC) Securities Exchange remained in the negative territory after it further depreciated by 0.64 per cent on Friday, July 24, despite recording four price gainers.
The NASD Security Index (NSI) dropped 27.4 points at the close of business to settle at 4,294.75 points versus the previous day’s 4,383.48 points, while the market capitalisation gave up N16.49 billion to end at N2.577 trillion, in contrast to the N2.594 trillion it ended a day earlier.
The bourse was down during the session amid heavy sell-offs, with the volume of transactions skyrocketing by 693.9 per cent to 2.99 million units from Thursday’s 377,635 units.
Equally, the value of trades went up by 71.6 per cent to N69.4 million from N40.4 million, and the number of deals increased by 41.0 per cent to 55 deals from the preceding day’s 39 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and Central Securities Clearing System (CSCS) Plc with 75.6 million units traded for N5.4 billion.
GNI Plc was also the most active stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, trailed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units valued at N415.7 million.
The market ended the session with four price gainers and two price losers, led by FrieslandCampina Wamco Nigeria Plc, which lost N7.44 to trade at N136.19 per share compared with the previous day’s N143.63 per share, and CSCS Plc, which declined by N1.64 to N93.63 per unit from N95.27 per unit.
But MRS Oil gained N13.50 to sell at N148.50 per share versus N135.00 per share, Afriland Properties Plc advanced by 56 Kobo to N17.41 per unit from N16.85 per unit, UBN Property Plc surged by 18 Kobo to N1.93 per share from N1.75 per share, and Food Concepts Plc climbed by 1 Kobo to N2.50 per unit from N2.49 per unit.
Economy
Profit-taking Crashes Nigeria’s Stock Exchange by 0.19%
By Dipo Olowookere
Nigeria’s stock exchange succumbed to profit-taking on Friday, losing 0.19 per cent when the closing gong was hit at 4 pm.
Shares in the banking and energy sectors influenced the decline suffered by the Nigerian Exchange (NGX) Limited during the session, as they respectively closed lower by 0.40 per cent and 0.04 per cent.
The industrial goods index was flat yesterday, while the insurance counter gained 0.68 per cent and the consumer goods space chalked up 0.25 per cent. The gains by these two segments could not keep Customs Street in the green territory at the close of business.
As a result, the All-Share Index (ASI) retreated by 474.00 points to 247,357.40 points from 247,831.40 points, and the market capitalisation decreased by N306 billion to N159.588 trillion from N159.894 trillion.
Presco dropped 10.00 per cent during the trading day to close at N2,070.00, Thomas Wyatt crumbled by 9.93 per cent to N3.63, Trans-Nationwide Express plunged by 8.44 per cent to N2.82, Royal Exchange slipped by 7.86 per cent to N1.29, and LivingTrust Mortgage Bank shrank by 7.32 per cent to N3.80.
On the flip side, C&I Leasing improved by 9.48 per cent to N6.35, Cornerstone Insurance rose by 9.09 per cent to N6.00, RT Briscoe jumped by 8.61 per cent to N13.25, Honeywell Flour expanded by 7.38 per cent to N17.45, and Africa Prudential increased by 6.98 per cent to N13.80.
Despite the poor performance, the local bourse recorded a positive market breadth index after finishing with 35 price gainers and 25 price losers, representing strong investor sentiment.
It was a relatively quiet market on Friday, as the activity level dropped, with the trading volume down by 27.72 per cent to 565.5 million units from 782.4 million units, and the trading value contracted by 46.89 per cent to N29.9 billion from N56.3 billion, while the number of deals executed by investors soared by 16.03 per cent to 53,688 deals from 46,273 deals.
Access Holdings was the busiest stock for the session, with a turnover of 128.0 million units sold for N3.8 billion, First Holdco transacted 35.4 million units worth N4.3 billion, Chams exchanged 34.8 million units valued at N154.3 million, Zenith Bank traded 30.4 million units for N3.9 billion, and UBA sold 30.4 million units worth N1.5 billion.
Economy
Naira Trades N1,362/$1 at Official FX Market, as Bitcoin Falls
By Adedapo Adesanya
The Naira marked a whole week of appreciation against the United States Dollar on Friday, July 24, further gaining N5.67 or 0.41 per cent to close at N1,362.09/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) compared with N1,367.76/$1 it ended on Thursday.
Equally, the local currency appreciated against the Pound Sterling in the official FX market yesterday by N10.83 to trade at N1,813.62/£1 versus the preceding day’s N1,824.45/£1, and improved against the Euro by N7.68 to settle at N1,549.10/€1, in contrast to the N1,556.78/€1 it was exchanged a day earlier.
However, at the parallel market and GTBank forex counter, the Nigerian currency remained unchanged against the greenback during the session at N1,400/$1 and N1,379/$1, respectively.
The Central Bank of Nigeria (CBN) buffer has been strengthened with sustained foreign portfolio inflows and robust foreign reserves, which stand above $52 billion.
The apex bank’s policy signals that the Naira will be stronger in the near term, with Nigeria clearing hurdles with FX reforms and settlement of all backlogs.
However, some traders expect that pressure may come due to foreign-currency buying from fuel importers as they make Dollar purchases to build inventories.
Meanwhile, Bitcoin (BTC), in the digital currency landscape, trimmed recent gains as it fell by 2.3 per cent to $63,787.73.
The weak action in the AI momentum trade is feeding through to crypto as well.
Further, Cardano (ADA) dropped 3.7 per cent to close at $0.1615, Solana (SOL) dipped by 2.8 per cent to $73.71, Ripple (XRP) crashed by 2.3 per cent to $1.08, Ethereum (ETH) slid by 1.9 per cent to $1,851.58, Dogecoin (DOGE) retreated by 0.8 per cent to $0.0694, Binance Coin (BNB) contracted by 0.7 per cent to $564.18, and TRON (TRX) lost 0.5 per cent to trade at $0.3292, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.



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