Business
Entrepreneur Tasks Youths On Snail Farming
A Small and Medium Enterprise (SME) executive and owner of JOVANA Farms, Mr. Arinze Onebunne, has urged youths to take up career in Small-Medium Enterprises like snail farming to make themselves self employed, rather than being idle and waiting for paid employment.
He said there are opportunities all over in farming business like, the snail, fish, goat, mushroom and grasscutter farming, which, according to him, can be undertaken through partnership with little start-up capital.
Onebunne, who made this known in a chat with newsmen at the Port Harcourt International Airport, Omagwa, Friday noted that so many youths who have the potential for business have refused to exploit the farming business, but are waiting for paid employment.
Giving little background about his snail farming business, Onebunne said he started breeding snails indoors in a climate-controlled environment, before he graduated to producing snails in an outdoor free-range system, with temperature controlled environment, to speed up the breeding process.
“The system ensures that snails can be harvested at the age of 18 months, instead of 24 months, and can be harvested all year round.
“With its minimal space requirement, indoor snail breeding is now a worth while profit-generating option for small-scale farmers”, he said.
Narrating how he became Interested in the business, Onebunne said a hotelier friend convinced him that snail supply is inadequate, for restaurants in Nigeria, especially the giant land snail, hence he ventured into it.
The Jovana farms Chief executive also highlighted a lot of advantages in snail farming, saying that 90,000 snails can be grown in a year on three plots of land, adding that a giant snail can be sold to a restaurant at N500.
Corlins Walter
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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