Any nation that requires economic development must look inwards to identify areas where it has comparative advantage over other nations and seek to develop the identified areas.
Apart from hydrocarbon, Nigeria has comparative in the Agricultural sector where a variety of products are produced due to the favorable climatic condition ,good soil condition and the fact that over 70% of the entire land mass of the country is arable.
One of such product that is been produced in Nigeria is Hibiscus flower. Hibiscus flowers are multi colored and varied and an annual herb cultivated for its leaves, stem, seed and calyces. It grows nearly throughout the year, though its peak production is during the dry season of November to April of the following year.
Foraminifera Market Research through this feasibility report seeks to highlight the investment opportunity in the export of the commodity.
Hibiscus flowers are used in the production of tea and other medicinal uses. Hibiscus tea is a caffeine free herbal tea from a special type of hibiscus, called Roselle, the scientific name is Hibiscus sabdarrifa. Specifically, the tea is made out of the dried fruit part of Roselle, called calyx. It is in red color and tastes like berries.
The product is in great demand in the US and Europe.
The return on investment on the export of dried hibiscus flower is estimated between 10%- 15%.