“Mushroom Farming Will Turn Many Investors In Nigeria To Overnight Multi-Millionaires-Obasohan

The Chairman of Foares Mushroom Farm Global,(FMFG) Dr Kingsley Obasohan has expressed optimism that many Nigerian investors in mushroom farming would become overnight multimillionaires going by the current economic trend in the world.

Obasohan, a Certified Business Development Analyst (CBDA) 

was speaking at the Official Launching of Mushroom Cultivation Farm co- sponsored by EGC Capital & Investment Limited at Orutu Village in Obafemi Owode Local Government, Ogun State penultimate Saturday.

Obasohan likened mushroom business to crude oil exploration in terms of economic viability.

He disclosed that one unit of mushroom production would fetch an investor between N300, 000 and N360, 000 within four to six weeks while 10units would amount to N3.6million.

According to Obasohan, the global export of mushroom between 2014-2018 was $2.4trillion

Within 4 years adding that,” South Africa earns $1.3billion annually from mushroom business”

According to him, “Our objective is to achieve the United Nations Sustainable Developmental Goal {SDG} which says Africa should be industrialized by 2030

“Our goal is to ensure total economic liberation of Africa. This we called Liberation Mandate.”

Obasohan observed that Africa had good weather, good soil and the capacity to produce but lacked marketing and sales strategies.

To meet this demand, FMFG decided” to create markets in Europe and America by setting up offices in California

South Sweden where the demand for mushroom products is very high”

“To facilitate our effectiveness in Africa, we have established offices in Yahounde, Cameroun, Accra, Ghana and Rio de Janeiro, Brazil. We are presently in seven African countries.”

Obasohan reiterated that “after spending over 20 years in the diaspora we realized that no foreigner can develop our continent for us except ourselves. That is why decided to liberate Africa from economic ignorance”

“We decided to establish an office in Abuja to serve 27 States where we have offices and a Regional office in Edo State.

“Right now we have 32 employees to support Nigerian farmers’ capacity with technical aid.

The Chairman of FMFG said he decided to contact directly Cooperatives and farmers in order to decipher their firsthand needs.

He went on, in order to ensure effective partnership we set up Monitoring Environmental Team to evaluate before Uptake and Quality Assessment Team to ensure our products meets international standard. We set up Management Services, Logistics and International Sales- to monitor from Uptake, Drying and Export to markets all over the world, adding that, “they coordinates export to Europe and American Pharmaceutical Companies”

Likening mushroom products to crude oil, Obasohan said:”the mushroom products  that  are exported are returned as finished products and used as raw materials for drugs used in curing HIV, Diabetes, High blood pressure, low sperm count etc. and for confectionery such as Mushroom bread and  flavours.

To actualise this dream, Obasohan said FMFG “is sourcing for a grant N5billion to set up a processing centre in Nigeria. This bring technology to Nigeria and help in creating more jobs.

Adding that, “it will minimise youth restlessness and curb insecurity because and idle Hands is the devil’s workshop”

He appealed to the farmers to join hands with Foares and ECG Investment to make the vision a reality.

The Project  Director, ECG Capital & Investment Limited, Professor Stephen Oyebade who described Dr. Obasohan’s speech as heartwarming and disclosed that ECG as earmarked six locations which include Ogere, Ajebo, Ibadan, Akure, Oshogbo and Ado Ekiti for Mushroom Cultivation Farms.

He said the locations are strategically selected for youths and women capacity building and employment in South west region and Increase Internally Generated revenue to the States.