The Commodityity Industry: An Overview Of The Nigerian Commodity Industry

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1.1. INTRODUCTION
The purpose of this assignment is to identify a prospective industry that I would like to venture into and to understand the reason why my chosen entrepreneur has being successful in his industry, and to understand the traits, roles of an entrepreneur. This assignment will also discuss their achievement during their years in the industry, and to know when same opportunities present itself to me in the specified industry.
1.2. AN OVERVIEW OF THE NIGERIAN COMMODITY INDUSTRY.
The Nigerian commodity industry is the most booming but un-tapped industry in Nigeria. Nigerian with a population of over 200 million people. Agriculture dominates the Domestic Product (GDP), and employs two-third of the labor force (Tunji, n.d). The commodity industry generates household income for most of the people. The Nigerian commodity industry is still fresh to invest on, because of the opportunities that presents along the line. One of the major food crops that are considered important for food security is Vegetables, Tubers (yam, cassava), Legumes (groundnut, cowpeas) and Cereals (Rice, wheat, millet, sorghum and maize). These food commodities have not met domestic demand, which leads to most of this goods being imported, especially rice’s which consumes an import amount of US$300 million annually. This industry will be a good start for me because it’s easy to developed my company, and from the entrepreneur. Vegetables, Tubers, Legumes and cereals have become strategic commodity in economy of Nigeria, which has made the federal governments to intervened, because there is a shortage of these commodity and suppliers. Furthermore domestic production has being on the fall, due to public policy and mindset of the Nigeria people. Nigerian ...

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...ter-Nelson and Garcia, 2008).
- Commodity companies are not compulsorily subject under the Nigerian financial service regulation; therefore, opportunity arises beyond the level of tax restriction, federal in-land revenue among others. However the commodity trading prices control regulates the Nigeria commodity industry

1.6 CONCLUSION.
Commodity industry is Nigeria is a wide and matured industry, but opportunities arises everyday depending on the entrepreneur determination for success in the industry and seen in the case of Aliko Dangote, who over the years has built its conglomerate around the commodity industry. The commodity industry has its own challenges, but the opportunity and profit therein surpasses the challenges. Therefore, I would like to venture into the Nigerian commodity industry in the future because of the financial opportunity embedded in it.

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