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How Nigeria Can Earn N1tn From Mushrooms Annually – Don

A mushroom plant scientist, Prof. Sami Ayodele, has urged the Federal Government to create an opportunity for farmers to embrace mushroom cultivation to serve as alternative means of farming and income generation for the country.
Ayodele made the call in Abuja on Thursday while delivering the National Open University of Nigeria’s 22nd inaugural lecture with the topic: “Mushrooms: Friends or Foes.”
He said it was imperative for the government to sensitise citizens on the benefits of mushroom cultivation for wealth creation and poverty alleviation.
“It is imperative for the government to commence elaborate sensitisation of citizens about mushroom cultivation for wealth creation and poverty alleviation since it has a lot to contribute to the economy of the nation,” he said.
Ayodele, Professor of Botany, Department of Biological Sciences, Faculty of Sciences, NOUN, said the country could earn as much as N1tn annually if the sector could be properly developed.
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He noted that the mushroom sub-sector and its value chain could provide 30 million skilled, semi-skilled and unskilled jobs for the teaming unemployed graduates, vulnerable youths and women.
“Mushroom cultivation could have great economic and social impacts by generating income and employment for both women and youths, particularly in rural areas of developing countries.
“For instance, in China, it was estimated that the export value of mushrooms was about $1.6 billion and the total employment in the mushroom industry was over 30 million people.
“Out of this population, only 10 per cent are actual mushroom farmers, others fall within sectors such as food, beverage manufacturing, trading and management, transport, marketing, retailing, export and so on.
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“The global demand for mushrooms has continued to increase significantly according to the Food and Agricultural Organisation (FAO) report, while the market for mushrooms is huge and growing exponentially.
“The world mushroom market as at the end of 2020 stood at about $45.3 billion with China producing the highest.
“In Africa, only South Africa, Madagascar, Tunisia, Zimbabwe, Algeria and Morocco grow mushrooms on a large scale, while Nigeria, the giant of Africa, does not feature in African mushroom production scale, not to talk about world production scale,” Ayodele said.
He, however, cautioned that care must be taken to ensure poisonous species were not mistaken for edible ones when collecting wild mushrooms.
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Ayodele who is also the Director in charge of the NOUN Abuja Model Study Centre noted that toxins from poisonous mushrooms could cause extensive cellular damage, affect the autonomic system and the central nervous system.
He added that toxins from poisonous mushrooms could cause gastrointestinal discomfort.
Ayodele, therefore, urged the government to establish a national mushroom germplasm centre where documentation of all available edible and medicinal mushrooms in different regions of the country would be housed.
“There should be regular seminars, symposia, conferences and workshops by the mushroom scientists to sensitise the Nigerian public about the new trend in mushroom cultivation and its potential for food security.
“Soft loans should be granted to interested individuals particularly unemployed youths and graduates with training in mushroom science to establish small-scale mushroom farms to reduce unemployment.
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“The pharmaceutical industries in Nigeria should exploit the medicinal potential of the bio-diversities of medicinal mushrooms in Nigeria for medicinal formulation,” he said.
The Vice-chancellor of NOUN, Prof. Olufemi Peters, while applauding Ayodele for his vision and lecture promised to establish a laboratory in the institution dedicated to mushroom research.
Peters tasked Ayodele to set up a research group for mushrooms to enable him to get the institution’s support.
He urged the government, especially the incoming administration, not to allow the research to end up as an academic exercise.
“I wish him (Ayodele) more success in his career and especially as I have made the pledge, I will be awaiting some proposals on my table.
“For all of us here, especially our professors and senior academics, this institution will count on you to continue to give us shining examples on how we march forward to research,” Peters said.
(NAN)
News
Transfer: Premier League Clubs Scramble For Dele-Bashiru
Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.
Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.
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La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.
The 24-year-old has two years left on his contract with the Serie A club.
The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.
He has been a regular feature for Lazio this season.
News
Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses
The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.
DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.
A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.
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“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.
“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.
“This contradiction will no longer be tolerated,” the statement said.
News
N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs
First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.
The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.
At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.
Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.
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Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.
“Women-led enterprises are critical to economic activity, yet they face structural barriers.
This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”
“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).
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“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”
Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.
Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.
Applications for the zero-interest loan are now open.Apply now.
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