🚀 BUSINESS IDEA SERIES: Palm Oil Business 🛢️🌴
Palm oil is one of Nigeria’s most consumed products, used daily in cooking, cosmetics, soap, and even biofuel. The beauty of this business is that you don’t need to own a plantation — you can start as a trader, reseller, or distributor and still make steady profits.
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🔑 Why This Works
Evergreen demand: almost every Nigerian kitchen uses palm oil.
Storage advantage: if well-preserved, palm oil can last over a year and appreciate in value.
Multiple markets: households, traders, restaurants, industries.
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✅ Cost Budget (Trading Model)
25L keg of palm oil in peak season: ₦18,000 – ₦20,000
Storage drums (200L): ₦25,000 – ₦35,000 each
Warehouse/space: ₦10,000 – ₦30,000/month
Transport/haulage: varies (₦5,000 – ₦15,000 per trip)
👉 Startup Budget: ₦100,000 – ₦300,000
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💰 Revenue Potential
A 25L keg sells for ₦22,000 – ₦25,000 in scarcity season.
100 kegs bought at ₦20,000 each = ₦2M.
Selling at ₦24,000 each = ₦2.4M → ₦400,000 profit in a few months.
Scaled storage = ₦1M+ profit annually.
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✅ How to Start
1. Source palm oil directly from producing states (Ondo, Edo, Imo, Enugu, Cross River, Akwa Ibom).
2. Buy in bulk during peak season (Feb–May).
3. Store in airtight containers away from sunlight.
4. Resell during scarcity period (Aug–Dec).
5. Connect with restaurants, market women, and online buyers.
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💡 Pro Tips
Quality matters: only buy clean, reddish oil (no impurities).
Storage is key → avoid exposure to air & light.
Start small, scale as profits come in.
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