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BITTER KOLA EXPORT IN NIGERIA; NON-OIL EXPORT OPPORTUNITY SERIES.
Export exists mainly in order to “transfer” commodities and services from areas of surplus to areas where they are lacking. There is no doubt that Nigeria has a comparative over other nations with regards to the export of agricultural produce because over 70% of the nation’s landmass is arable.
One of such commodity that can be found in abundance especially in rural communities in Nigeria is kola nuts.
Kola is a product of the kola tree. It is one of the country’s cash crops and has a socio-economic significance in the Nigeria society.
Nigeria is a principal producer of kola nuts producing about 150,000 tons annually of which over 90 % are locally consumed.
Kola is usually in two varieties namely bitter kola and kola nuts. Though the focus of this manual is on bitter kola, It is important to note that kola nuts is further sub-divided into Gworo and Igbo Oji. While gworo is mostly consumed in the Northern part of the country, Igbo oji is mostly consumed in the Eastern part of the country, where they play a very significant role in the custom and tradition of the people.
Kola trees are natives of central and West Africa and are distinguished primarily by the medicinal and stimulant properties of their nuts, barks and leaves.
Bitter {Garcinia} Kola is one of the varieties of kola that can be found in the Nigeria which are mostly found in the southern parts of the country and some of their uses are stated below.
1. They are used in the preparation of drugs in the pharmaceutical industry.
2. They are used in the production of cola soft drinks.
3. They are used in the production of energy drinks
The product is usually available in the market between March to November of the year.
In Nigeria, bitter kola can be sourced from the southern part of the country. Nigeria is one of the highest producers of bitter Kola in Nigeria.
Though about 90% of the current production of 150,000 MT is being consumed locally in the country, Bitter Kola {Garcinia} is in great demand in Britain, America, China, India and other Asian countries. It is used for food purposes apart from serving as raw materials in the pharmaceutical and food industry in the preparation of drugs, soft cola and energy drinks.
The product can be sourced mostly from southern part of the country in the following states in Ondo, Enugu, Osun, Oyo, Imo, Ogun etc. The selling price is usually N 200 per KG.
The retrun on investment in the export of bitter kola is estimated between 10%- 15%.
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BITTER KOLA EXPORT IN NIGERIA; NON-OIL EXPORT OPPORTUNITY SERIES.
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