How to Make Decent Income Buying and Selling Goats in Nigeria

Goat Market in Nigeria is one of the biggest in the world and people are making huge profit buying and selling goats. With the hope that you are reading this write-up in a good state of health, I welcome you to goat business.
 

 
Livestock marketing is one business that has made many millionaires, and many people are still growing their fortunes through the business.

I know of a guy who drops out of school to join this business when we were in 200L. Although rumors carries it that he wasn't doing good in school. That aside, the point I am trying to make is that the guy now earns what none of us his colleagues that graduated earns half of (Note: If you are a student, I am not suggesting you drop out of school and go into this business or any other business. If you try that you are OYO.

Nigeria is the leading livestock market in west Africa according to research. The demand for meat in Nigeria is very high. The demand is even greater in the southern cities, where at least twenty species of bush-meat are eaten.

The most common livestock that are dealt with in this business are cows and goats. I choose to write on goats as it requires a very much lesser start-up capital and lower risk compared to dealing in cows.

In this (goat) business, with a start-up capital of two hundred and fifty thousand naira (N250,000), you can earn an average of fifty thousand naira (N50,000) weekly which gives you two hundred thousand naira (N200,000) monthly. I am sure this will sound doubtful to many. Follow me as I present to you the analysis bellow.

Livestock (especially cows and goats) are generally cheaper in the northern part of Nigeria. They are even very much cheaper if you visit village markets in states like Kano, Sokoto, Zamfara and Katsina.

Depending on the physical size, you can get a healthy fully matured goat in these village markets  between N6000 - N8000. And if you transport it to Abuja, you sell it to awaiting dealers and get a minimum profit of N2000 (note: transport + other minor expenses have bn considered). This profit is higher if you transport it to Lagos, Kwara, and Porthacourt states ( I don't know of other states), with profits between N4000 to N5000.

Now follow me in this:

1. Average cost per goat = N7000 x 25 = N175,000
2. Transport to Abuja = N30,000
3. Loading and offloading = N2,500 
4. Agents fee per goat = N100 x 25 = N2,500. 

Note: If you are a novice in the business, you definitely need an agent to guide you for at least two months. The agents know the village markets better.

They escorts you to the market, and assist you in negotiating/striking the best deal. They even link you up with dealers {if you are taking your goats to Abuja or Lagos} so that you sell your goats upon
arrival. 

5. Miscellaneous  = N10,000
Total = N220,000.

Now, depending on market trend, selling price at Abuja is between N11,000 to N15,000.

Working with the minimum

Sell N11,000 x 25 = N275,000.
Profit = N275000 - N220000 =______
Fill in the blank space.
 
Please, research the current cost of goats in the city you live and put it in as a comment for the benefit of interested investors.

RISKS.

1. Accidents
2. Theft (although very rare armed bandits might attack you and seize your goods, God forbid)

OPPORTUNITIES.

1. The market is always available (people will continue to eat meat till end of time)

2. You can insure your business against accidents and theft.

I wish you all the best in your endeavors.

Written by Ibrahim Ahmad Bello for WealthReult.com

Share on Google Plus Share on Linked in

Attend The EPIC BLOGGING Seminar (Jan 29th - 30th, 2016)

Do you want to learn how to blog professinally like me and earn real money, I mean millions of naira every month? Then start making arrangement to attend my 2days EPIC BLOGGING Seminar taking place in Lagos on January 29th and 30th 2016. You've never seen anything like this before and believe me, you'll miss the whole world if you miss it >>> CLICK HERE FOR DETAILS Follow @DarlintonOmeh