‘I have not incurred loss frying groundnuts’ Mrs. Grace Okpatuma is an Ogoja woman from Yala Local Government Area of Cross River State. In this interview, she says she started her groundnut business with N400 but she is now controlling over N40,000 at Ma
When did you start this business?
I started this business in 2005, I started with N400. I used the N400 to buy three mudus (measures) and then the expenses. I continued with the business and gradually, I went to the market again and bought 100 mudus. The 100 mudus is N25,000 now and with the expenses it is N27,500. Sometimes, I buy and separate the bad ones and after selling it, I get about N31,000 then I remove my profit, go back again and buying after about four days. That is how I got to this stage.
What have you been able to achieve through this business?
I have achieved many things with this small business. I am feeding with this little business, paying my children’s school fees. In fact my husband and I are doing many things with the money I make from the sale of groundnut.
What challenges do you face in doing the business?
One of the greatest challenges of this business stems from the frying of the groundnut. The smoke is always much especially when you use fire wood and the fire is just starting. The smoke is much and the fire itself is a risk. If you are not careful, the fire could burn your clothes in the process of frying. The heat is much because of fire and smoke and another danger is that if you have little children, they are likely to be victims of the fire if adequate care is not taken while frying. But the most important thing is to bear the smoke and go ahead with the frying to get the taste and colour.
Are you going to continue with this business or you are looking for something better?
I am willing and ready to continue in the business because it is helping me and my family.
You started the business with N400 in 2005. How much cash are you controlling now?
I am now controlling over N40,000. My husband has been so understanding and cooperative that I don’t normally have problems. He supports me to ensure that I grow the business.
Have you incurred loss in the business?
No, I have never operated at a loss. God has continued to be with me as his daughter and it is only profit I have been making no matter how it is, I thank God. When groundnut is scarce in the market, we increase the price. If we buy it N250 per mudu then we sell at N300, but when a mudu is more than N250, then we sell it at N350.
Where do you expect to be in the next five years?
In the next five years, I believe I will use the money I have gotten from the sale of this groundnut to start something bigger than this. I believe I will change for something better.
What is your advice to unemployed Nigerians, especially
women who are jobless?
Well, I am advising women that have nothing to do that the little amount you have, don’t think it is too small to start a business. You can start with N1,000 or even N500 than to stay without doing anything. Some people may think that groundnut business is nothing but for good nine years that I am into this business, I am achieving something and I am telling women that any of them who doesn’t have any thing to do should try with the little amount they have and start a small business and they will achieve something in life.
What advise do you have for the government as regards small scale
business?
Yes, what I want to tell the government is that the business is there but people are complaining that there is no money in circulation now, most especially the small denominations. N1,000 notes have dominated the market because most of the ATMs only have the highest denomination of the currency so when people buy groundnut, the issue of getting their change is always a problem. People complain that “no change, no change”. So I want the government and the banks to look into this. Small denominations like N200 should also be included in the ATM.