Processing, packaging plantain for local, export markets
Plantain and banana are another set of food crops that can be grown profitably in Nigeria. These crops have been abandoned for ages, but they are now very precious in the market.
The botany of plantains and bananas do not differ except that storage of carbohydrate in the fruit of plantains is in form of starch while it is sugar in banana fruits. It has been identified that establishment of plantain flour processing factory is another means of livelihood for Nigerians, hence the need for this write up.
Justification of the project/marketing potential
The project will help in rural development by providing job opportunities for rural dwellers because plantain can readily be sold to factories. Not only that, farmers will establish more plantations as there will be ready market for their plantain bunches.
The market is no doubt guaranteed as Nigerians consume plantains a lot. Plantain flour is also medicinal as it contains less of carbohydrate. It is particularly recommended for diabetic patients. Raising the awareness of Nigerians on the goodness of plantain flour for diabetic patients will greatly improve the marketability of the product as number of diabetic patients is increasing yearly.
The project will help in increasing the number of staple foods available for Nigerians.
Establishment of the project will on the aggregate improve Nigeria ’s economy. It will have the multiplier effect on the economy by providing job opportunities for labourers, the market women, the urban dwellers and help in improving the economic well being of the promoters.
Production technology
To embark on this project, there is the need for a suitable location where a medium sized factory can be established. Rented accommodation can also be procured for a start. Plantain flour production involves procurement of matured plantain, peeling, chipping, drying, milling and packaging. Implementation procedure includes pre-investment activities, security appropriate accommodations, procurement of machines and their installation, recruitment and commercial take-off. Investors can be assisted in the establishment of this project.
Financial requirement
To establish the project a sum of N4,100,000 has been estimated broken down as follows:
N
1. Pre-investments 100,000
2. Accommodation 500,000 (rented space)
3. Plant and machinery 1,500,000
4. Utilities 1,000,000
5. Working capital 1,000,000
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Total N4,100,000
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Profitability
A daily production of 1000kg has been projected. Profit of N40 per kg of flour produced has been computed. Working 200 days of year will yield annual profit of N8 million, which is a legitimate way of living in Nigeria.
For further information, contact: Tel: 080-23058045, 08152596985 & 080-33660177
E-mail: olumakindeoni@yahoo.com
By: OLUMAKINDE ONI