In Nigeria, coconut bye products has the potential of generating over N20 billion annually for farmers and agribusiness entrepreneurs .
Currently, the production output of dehusked nuts in Nigeria is about 350,000 metric tonnes which is used in the production of less than 1,700 metric tonnes of coconut oil.
In-country, Lagos state has the potential for the production of more than 10 million coconut trees with annual production of over 1 billion husked nuts worth over N45 billion even as it remains the only state of the 36 states of the federation, with funding of coconut business projects.
Coconut chips is a hot selling commodity in Nigeria. When marketing your coconut chip, you can decide to sell at N100, N200 and above, depending on your packaging and your location. A big pack of Coconut chips sells about N500 to N1,000 and as such, you need to do a market analysis to see the pack that sells most in your location.
Business Capital
Coconut chips production business in Nigeria does not necessary require intensive capital to start, however, you need a reasonable amount of money to start so you have an edge over your competitors in this line of business.
You can start coconut chips business from the confines your home; you don’t necessarily need huge capital to start a profitable Coconut chip business in Nigeria. With N500,000 and above, you can comfortably starts the a medium-sized coconut chips business.
Coconut Chips Processing
- Bowl-a big bowl for washing Coconut.
- Frying pan for frying the sliced Coconut.
- Water – for washing the Coconut and other things
- Sieve – to drain out water from the sliced Coconut before frying.
- Frying spoon – to bring out the fried chips from the oil Charcoal/gas for fire.
- Coconut cutter – some people could decide to use knife or Coconut cutters, but it is best to get a Coconut Cutter which is specially made for Coconut chips.
Ingredients For Coconut Chip
The ingredients include: coconut; cassava starch or tapioca or potato starch or corn starch; sugar or honey; nutmeg; cinnamon and Natural Preservatives.
Machineries
They include; Grating machine( Stainless Type), Mixing machine 25KG capacity, Milling machine ( Stainless Type). Baking trays and sheets, Shape Cutter mold, Industrial Oven, Cooling conveyor, Stainless work tables and Packing machine
Profitability
Profit before tax projection is projected at N5.5million in the first year. With consideration for finance cost and leasehold, payback is achievable within 2 years of operation.
