Mushrooms are nutritionally rich, healthy and medicinal. - (Fr.) is one of the nutritious medicinal mushroom found in the tropics and subtropics, but with history of slow growth and low sclerotia yield. In this study, mutants were created by mycelia exposure to ultraviolet irradiation (at a wavelength of 254 nm and a distance of 45 cm), for 3 h and sub-cultured at 30 min interval. The DNA from the wild and mutant strains were extracted, PCR amplified and sequenced. A phylogenetic tree was constructed to show the degree of similarity and differences between the wild and the mutant strains. Fructification studies were conducted on Rhodes grass straw and sawdust to determine the viability of the mutant strains and any nutritional improvement. The wild strain of - and mutant produced at 30 min (Pt30) cultivated on sawdust and Rhodes straw, yielded sclerotia with biological efficiency of 8.8 and 47.6% respectively. Proximate analysis of the sclerotium showed that the mutant, Pt30, had improved nutritional compositions compared to the wild strain with a total non-structural carbohydrate concentration of 2.41 g as against 0.93 g. Conclusively in this study, better strains of - were produced with faster growth rate, higher mycelia ramification rate on lignocellulosic substrate and a higher sclerotia yield than the wild -. It was also established that mutagenesis is capable of improving - for a successful commercial venture in sclerotia production.