An Entrepreneur, Mr Charles Emmanuel, has urged Nigerian youths to tap into Palm Kernel Oil (PKO) business as part of measures to be self-reliant and contribute to the nation’s development.
The entrepreneur made the call in an interview with the News Agency of Nigeria (NAN) in Kaduna on Saturday.
Emmanuel, 35-year-old, said that palm kernel oil, extracted from the kernel of a palm was a major raw material for producing cosmetics and as such had high market demand.
“You can start this business with as low as N150,000.
“I will not say there is no risk in the business but if you follow instructions, you will become a millionaire within a year, doing no other business except supplying Palm Kernel Oil (PKO) to companies.
“The supply of PKO, Palm Kernel Cake (PKC) and Palm Kernel Sludge (PKS) to companies can be very lucrative; thanks to its never-ending demand”, he said.
According to him, one can get PKO directly from producers at a cheap rate, then transport them to areas where they are expensive.
The entrepreneur said he operated as a broker by connecting companies that bought PKO with those that produced them, after which he earned commission from the sellers.
He noted that being a broker might not be as profitable as owning an oil producing mill but it was convenient and less risky too as it did not require lots of capital.
Emmanuel added that the broker only needed the contact of interested companies, producers, some marketing materials, business proposals, business cards and airtime on the phone.
He urged youths not to be in a hurry to get rich but be patient and start small, saying that impatience and greed had made some to become scammersnan.
