With inflation affecting virtually price of goods and services across the country, most Nigerians are now subscribing to emergency businesses.
Emergency businesses are seasonal or periodic ventures that are done specifically within a limited period, such as, during Christmas, Sallah, New Year, Fasting, Easter, among others.
And with Ileya festival three weeks away from now, a lot of people are now into ram sale as an emergency business.
The Ram Sale is lucrative currently as Muslim festival known as Eid al-Adha, involves the ritual sacrifice of an animal, usually a goat, sheep, cow, or camel, to commemorate Prophet Ibrahim’s (Abraham’s) willingness to sacrifice his son as an act of obedience to God.
Business Capital/Profit
LEADERSHIP Weekend investigation revealed that a small ram is being sold between N200,000 and N350, 000 depending on the place of purchase while the full size ones is going being sold between N500,000 and N800, 000, with profit margin on each ram amounting to a minimum of N50,000.
Hence, this business gives good returns on investment for willing investors.
Speaking with LEADERSHIP Weekend, a willing investor, Mr Akin Ademola said: “If I have the money for investment, this is the period to do so because only few sellers will be in the market.
“This 2024 will be a big chance to make extra money from sales of Ram because some people will because of high cost will not like to venture into it. As selling and buying Ram a month to the celebration time will make it cheaper, I will encourage anyone with the extra cash to seize this opportunity for such investment.”
The historical festival marks the culmination of the Hajj (pilgrimage) rites at Minā, Saudi Arabia, near Mecca, and is celebrated by Muslims throughout the world.