Investing in coconut trees can be a rewarding venture. This can be done side by side with your present occupation as it may not demand much of your time or money.
Because of its high market demand for various usage, having coconut oil plants can make one a multi millionaire after few months.
Findings show that, of the 22 States known for coconut plantations, Lagos State is the largest producer of coconut in Nigeria, followed by Akwa Ibom, Cross Rivers and Bayelsa states.
What Is Coconut Oil?
Coconut oil is a vegetable oil extracted from the kernels or meat of mature coconuts. The scientific name for coconut is Cocos nucifera. It is commonly produced through traditional methods of pressing or centrifugation.
Coconut oil production involves the extraction of oil from the kernel or meat of mature coconuts. The oil is high in saturated fat and has a wide range of applications, including cooking, cosmetics, and medicine. Coconut oil production in Nigeria and Africa is a growing industry due to the abundant availability of coconuts in the region.
The production process involves several stages, including shelling, paring, grinding, drying, and pressing. The extracted oil can be further processed to produce refined or virgin coconut oil, which can then be packaged for sale.
Speaking with me, a coconut farmer, Mr Charles Ilobeke says, having coconut plantation does not require much time attending to on a regular basis, because the trees grow and mature with minimal cultivation of the weeds.
Maturity
“Coconut trees takes between 7-12 months to fully mature. That is, it can start yielding fruit after five years. Once the tree starts to flower, then the fruits will start all year round, it does not have a season as all year-round it’s seeds keep yielding plants,” he says.
Each palm produces 50 to 150 nuts each year. Coconut palms are herbaceous and can bear fruit for more than 100 years but the maximum is generally reached after 10 to 20 years.
On his part, another farmer, Dr Innocent Ogbonna, says, oil content in coconut is about 65%-74% as the processed coconut oil is rich in various fatty acids, which is an edible product with high market demand.
According to Ogbonna, a person can set up small scale coconut oil processing factory or very low scale production through locally made process.
Additionally, the rising global demand for organic and natural products presents an opportunity for Nigeria to position itself as a leading producer and exporter of high-quality coconut oil.
Profitability
Findings show that, this is a business that can generate several millions of naira annually, especially, if it is done on a large scale production.
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