Mushroom (Oyster and Shiitake) were cultivated in controlled environment using agricultural wastes, Maize cob, rice bran, wheat bran and cotton waste as the substrates. 30.0 g each of the Mushrooms produced were dried at temperatures 60, 105 and 120°C, milled and packaged. Freshly harvested samples of both were frozen. The physical properties of freshly harvested mushrooms were determined and the Proximate Analysis revealed that the mushroom produced using this method is of high quality. The technology of production is relatively simple, cheaper and appropriate to our local condition. This paper examines how mushroom can be produced using agricultural waste in a controlled environment for economic advancement.