- Category: Resources
- Published on Friday, 19 April 2013 09:32
- Written by Administrator
- Hits: 1339
Plantain is one of Nigeria’s staple foods. It is not only good s food, but it also serves as major input in the production of products like plantain chips, plantain flour, roasted plantain and some special type of wine, when fermented. The initial capital requirement for the business is low, if its on a small scale. But if it is a big plantation, then it requires a lot of capital outlay. From planting of plantain shoots to maturity, takes an average of 1 ½ year.
There is ready market for plantain. The large population of Nigeria is also a plus in this direction. Fried plantain is much loved by children, men and women. Restaurants, fast food centers etc are potential market for plantain sale. Another very big market is roasted plantain sellers, which is fast becoming a major “industry” in Nigeria – for both rich and poor. Plantains, if processed in some form can also be exported. There is very minimal competition here as most people shy away from farming.
Since it is not mechanized large scale plantation, the machinery requirement is virtually none. However, like other farms for some products, farm implements like hoes, cutlasses, wheel-barrows and some other tools are required; other materials needed includes: plantain shoots, fertilizers pesticides and of course land. All these can be locally sourced; including labor requirements. The plantain shoots can be still sourced from IITA (International Institute of Tropical Agriculture)
For a start, the following estimates will suffice:
Land lease – 3 plots at
N30, 000.00 per plot (Average)
Per annum 90, 000.00
Plantain shoots-100 at
N200.00 per shoot 20, 000.00
Fertilizer – 20 bags at
N300.00 per bag 6, 000.00
Pesticides 10, 000.00
Cutlasses – 5 at N1, 000.00 each 5, 000.00
Hoes – 5 at N1, 000.00each 5, 000.00
Wheel-barrows-4at N3, 000.00 each 12, 000.00
Other tools 30, 000.00
Labor (estimate) during cultivation 30, 000.00
So with an initial capital outlay of N208, 000.00 one can commence the business. A bunch of plantain sells between N200.00 and N2, 500.00. A plantain tree produces about 3 bunches per harvest.
The owner of the plantain doubles as the Managing Director and the Accountant. He can also oversee the administrative functions. However, during periods of cultivation and harvesting, laborers can be paid between N800.00-N1, 200.00 per day to assist.
No special training is required beyond one’s knowledge of farming. Anybody can pick it up if he has interest.