Abstract: The efficacy of three extraction methods for determining the lipid and fatty acid composition of M.ramanniana was studied. The extraction methods were chloroform:Methanol (2:1),Hexane:Isopropanol (3:2) and ethyl acetate. The total fatty acid composition varied in fungal cultures depending on the extraction conditions of the three methods chloroform:methanol (2:1) was found to be the best for extraction of lipid and fatty acids from M.ramanniana.