This study was centred on the edible cola nuts (Cola acuminata and Cola nitida), often referred to as obi abata and gbanja (yoruba) in Abeokuta metropolis. The study examined economic impacts and various uses of the cola nut. Structured questionnaire with open and close questions was distributed to120 respondents in the study area. Markets were selected from three Local government areas namely Lafenwa, Kuto, Iberekodo and Ishiun at Owode Egba purposively. The markets are local markets where farm produce are being sold in the study area. Descriptive statistics, cost and return analysis was used to analyze the data obtained from the study. The result obtained shows that 88.33% of the respondents were female who engage in the trade, 52.50% were in age group above 45 years which was the largest and were Yoruba. 51.87% had no formal education and are mostly full-time sellers. The result also revealed that traditionally 81.67% uses the nut for wedding and 97.50% for dye. The cost analysis reveals the average profit for each market, at Ishiun ₦3 293.375, Lafenwa ₦8 702.83, Kuto ₦4 869.40, and Iberekodo ₦3 127.20 and the rate of return on investment were at Ishiun 33.24%, Lafenwa 35.96%, Kuto 33.17%, Iberekodo 26.54% , respectively. It shows that Lafenwa has the highest rate of returns on investment and profit. The result also showed that the mean value of profit and return on investment for all the market were ₦4 998.21 and 32.23% respectively, this was due to the level of organisation in transaction in the market. The result also reveals the market margin per market at Ishiun 24.95%, Lafenwa 26.45%, Kuto 24.95%, and Iberekodo 21.00% respectively with the mean margin for all the market at 24.33%. The major problem encountered in business was basically that of storage with insect infestation at 53.33% and heat 51.67% which reduces the value and invariably the price of the product. Hence, a good storage system is important to improve sales. Hence a good policy must be put in place for good storage system to improve quality during storage and enhance income of respondents.