Post 16.
Plantain is one of the cheapt staple crops to produce
It provides gainful employment to many rural dwellers
It is very economical to establish, requiring a very small capital investment compared to its returns (see the Income and Profit Analysis Report on this blog)
It brings in quick returns on investment as it reaches maturity and pays off the cost of establishment within a year
The cost of producing plantain relative to returns is much lower than that of other stable crops like rice, cowpea, maize, cassava and yams.
It has good export potentials where the export potentials are properly harnessed.
Ayodele Adegbulugbe
www.plantainrichesnigeria.blogspot.com
www.johnayodele.wordpress.com
Lagos, Nigeria.
Showing posts with label plantain farming in nigeria. Show all posts
Showing posts with label plantain farming in nigeria. Show all posts
Tuesday, May 7, 2019
Tuesday, March 25, 2014
PLANTAIN FARMING IN NIGERIA: HOW TO ACCESS LOANS FOR YOUR FARM
HOW TO ACCESS LOANS FOR YOUR PLANTAIN FARM
This is the 11th post on this highly acclaimed,informative plantain blog set up to educate Nigerians about the potentials in plantain farming business for wealth creation. If you are one of those Nigerians, foolishly roaming the streets for non-existing white collar jobs,put on your thinking cap and stay glued to all the posts on this blog.
This is the 11th post on this highly acclaimed,informative plantain blog set up to educate Nigerians about the potentials in plantain farming business for wealth creation. If you are one of those Nigerians, foolishly roaming the streets for non-existing white collar jobs,put on your thinking cap and stay glued to all the posts on this blog.
The Federal Government of Nigeria has provisioned N200
Billion as loans to genuine farmers. The loans will be disbursed through the
Bank of Agriculture (BOA), formerly known as the Nigerian Agricultural Credit
and Rural Development Bank Limited (NACRDB).
The steps to obtain the loan are as follows:
1)
Locate the office of the Bank of Agriculture
that covers the area or local government area where your farm is situated and
open an account with the bank with a minimum deposit of N3000.00
2)
For the ‘Know Your Customer’ (KYC) requirements,
you must present your NEPA Bill which confirms your place of residence + any of
the approved means of identification such as International Passport, Drivers License,
National Identity Card or Voters Registration Card. If you do not have the NEPA
bill, forget the loan and do not waste your time going near the bank.
3)
Other requirements are:
Complete and signed account form
Complete and signed mandate card
Present 4 passport photographs of yourself
4)
You must run and operate the account for at
least 3 -6months before applying for the loan. Do not think that you can just
open the account, abandon it and show up after 6 months for the loan. The loan
is not the usual national cake and the bank, newly repositioned, is not fooled.
If you play that old game, the bank will doubt your integrity and commitment to
repay the loan if granted and that means you may not get it.
Running and operating the loan means that
you make it an active account. This means making sure that you save money and
withdraw from the account on a regular basis. The bank wants to see that there
are transactions going on in the account. Therefore, you should make regular
deposits and withdrawals on the account during the 6 month period to create an
active relationship that makes the bank have confidence in you.
5)
You must have an existing farm, at a fixed
location and the farm must have its record of operations and activities on a
daily basis neatly kept. The era of armchair farmers/political farmers/farms of
no fixed address/classroom farmers are over. The bank will visit your farm for
inspection when you apply for the loan.
6)
The bank will check what you have on ground; see
how far you have gone; what the loan is required for, and ensure that the loan
is appropriate for what it is required. The bank wants to know whether you have
an adequate knowledge of your area of farming business. You must be able to
demonstrate the practical hands-on experience in your area of farming. The bank
wants to know whether you have a project you are working on and the fund
requirements. And within a month of the inspection, the loan will be approved
if the bank is satisfied.
What are you waiting for?
Get the land ready and start setting up the
farm with what you have presently.
Then, go open an account with the Bank of
Agriculture and operate it as required for at least 6 months.
Make an estimate of the farm’s fund
requirements and get it ready before applying for the loan.
If you need information about the fund requirements for a plantain farm, the plantain farming reports on this blog, recently reviewed and updated has the full details.
John Ayodele
John Ayodele
www.plantainrichesnigeria.blogspot.com
www.cassavarichesnigeria.blogspot.com
www.johnayodele.wordpress.com
www.johnayodele.wordpress.com
Wednesday, December 4, 2013
PLANTAIN FARMING IN NIGERIA:The Best States For Plantain Plantation
The following Nigerian states have the best comparative advantage for plantain and banana farming:
Lagos, Ondo, Ogun, Oyo, Oshun, Ekiti, Edo, Delta, Cross River, Akwa Ibom, Imo, Bayelsa, Abia and Ebonyi.
The domestic uses of plantain are:
Fried slices (dodo) and plantain chips
The industrial uses are plantain flour/bread, cake/pancake,baby foods,wine,beer,dried flakes,biscuits and cookies.
If you need land for agriculture, government land is available for lease all over Nigeria. The lands are managed by the various River Basin Development Authorities across Nigeria.
For the lands managed by the Ogun-Oshun River Basin Authority, which covers Lagos, Ogun, Oshun and Oyo States, they have offices in those states where you can go to pay as low as N2500.00 per acre of land per year.
One of the blog followers who got the plantain reports and income & profitability forecasts on this blog has this to say:
''Good day to you sir, The Plantain Farming report contents was very helpful and the cash-flow forecast was very good too.''
Email: jadenuga@yahoo.com
They are:
b)
The
Income and Profit analysis (Excel Format) for the first two years in business
based on three conservative sales prices and seven realizable yield rates from
60% to 90%.
The cost is a token N2500.00.
Pay to First Bank Nigeria Account 3008421165 (ayodele adegbulugbe) and send payment details + email address to +2348035978352,and the two reports in soft copies will be delivered to your mailbox.
The plantation reports on this blog contain the plantain farming operation analysis, the income, cash flow and expenditure analysis for the first two years, the challenges in the business and how to overcome them, and the right sources to get the right type of plantain suckers.
John Ayodele
www.johnayodele.wordpress.com
www.plantainrichesnigeria.blogspot.com
www.cassavarichesnigeria.blogspot.com
Lagos, Ondo, Ogun, Oyo, Oshun, Ekiti, Edo, Delta, Cross River, Akwa Ibom, Imo, Bayelsa, Abia and Ebonyi.
The domestic uses of plantain are:
Fried slices (dodo) and plantain chips
The industrial uses are plantain flour/bread, cake/pancake,baby foods,wine,beer,dried flakes,biscuits and cookies.
If you need land for agriculture, government land is available for lease all over Nigeria. The lands are managed by the various River Basin Development Authorities across Nigeria.
For the lands managed by the Ogun-Oshun River Basin Authority, which covers Lagos, Ogun, Oshun and Oyo States, they have offices in those states where you can go to pay as low as N2500.00 per acre of land per year.
One of the blog followers who got the plantain reports and income & profitability forecasts on this blog has this to say:
''Good day to you sir, The Plantain Farming report contents was very helpful and the cash-flow forecast was very good too.''
Email: jadenuga@yahoo.com
They are:
1)
A
short report titled ‘How to Set Up and Manage a Profitable Plantain Farm in
Nigeria’. This is a guide to operations on the farm from day 1 to harvest.
2)
Plantain
Farming Income Analysis showing:
a)
The
Expenditure Pattern (Excel format) for the first two years in business.
The cost is a token N2500.00.
Pay to First Bank Nigeria Account 3008421165 (ayodele adegbulugbe) and send payment details + email address to +2348035978352,and the two reports in soft copies will be delivered to your mailbox.
The plantation reports on this blog contain the plantain farming operation analysis, the income, cash flow and expenditure analysis for the first two years, the challenges in the business and how to overcome them, and the right sources to get the right type of plantain suckers.
John Ayodele
www.johnayodele.wordpress.com
www.plantainrichesnigeria.blogspot.com
www.cassavarichesnigeria.blogspot.com
Saturday, November 23, 2013
Friday, November 1, 2013
PLANTAIN FARMING IN NIGERIA: Plantain Powder Business Opportunity
Plantain and banana are widely cultivated in the southern
and middle belt regions in Nigeria. The annual local production outruns the
demand. Being a highly perishable food item, substantial quantities rot away in
a short period after harvest.
When the rains start which signals the commencement of
planting, the plantain farmers plant at the same time. They harvest at the same
period and flood the markets with the product. After a short while, the product
soon becomes scarce where much rots away due to unavailable technology for
conversion for a longer shelf life.
The solution is to process the fruits into a powdered form
which can be packaged and stored for a longer time without spoilage and
wastage occurring. The natural flavors in the powdered form can also be
utilized in industrial food processing.
Foods and drinks such as cakes, ice creams, yoghurt and
custard are flavored to enhance their taste. The flavors are imported into Nigeria
and are synthetic, therefore not as good as the natural flavors in banana and
plantain powder. The natural flavors can be imparted into other foods.
There is a readymade market within and outside Nigeria for
banana and plantain powder. Nigerians in the diaspora, who are looking for
businesses to do in Nigeria can look into the aspect of setting up a suitable
processing technology to convert banana and plantain into powdered form. The benefits
are many to the farmers and to the economy.
Conversion to powder will increase their economic value and
give a longer shelf life. The added value will translate to selling at a higher
price than the raw fruit. The natural flavors in them are a better substitute
to the synthetic flavors currently being imported.
Foreign exchange will be conserved when the import of
synthetic flavors is reduced or eliminated. Foreign exchange will be earned
where the natural flavors are exported. Conversion will significantly reduce
wastage and spoilage, yield more revenue to the farmers and encourage them to
produce more.
The equipment required for conversion into powdered form has
been developed locally and can be acquired with a moderate investment.
John Ayodele
www.plantainrichesnigeria.blogspot.com
Thursday, October 31, 2013
PLANTAIN FARMING IN NIGERIA: THE PLANTAIN SUCKER (1)
The plantain seedling that you will plant is known as the
sucker.
The beauty of the plantain plant is in its ability to
reproduce itself in geometric proportions. A healthy plantain plant can
reproduce about 5 suckers around it which means that one plant has produced
another 5 plants.
Therefore, you will not have to buy fresh suckers for
planting for the 2nd year and beyond. There are three benefits to
you.
First benefit is that you won’t be buying fresh suckers for planting in
the 2nd year. Second benefit is that you can sell the suckers while
waiting for the harvest of the plantain bunches from the existing plants.
Thirdly, you can transplant the suckers on another plot of land which means
that your farm is expanding without buying fresh suckers.
There are two types of suckers in Nigeria – the local
variety and the improved variety sucker. The local variety sucker takes about
two years to mature from planting to harvest while the improved variety takes one
year. The local variety generally has lower yields and more disease-prone, while the improved variety has higher yields
in terms of fingers per bunch, size of the fingers and the sweetness of the
fruits.
The improved variety brings faster returns on investment than the local
variety sucker. The improved variety comes in different grades that indicate
the level of improvement. Always go for the latest improved variety sucker. If you are a starter, go for the improved variety sucker.
However, note that the improved variety sucker is costlier than the local
variety sucker. When the planting season commences, at the start of the rains,
the improved variety sucker costs about N120.00 to N150.00 per sucker even from
official sources. The demand for the improved variety sucker is high.
The demand pressure and the season affect the price. If you
are a starter waiting till the planting season to buy the suckers, then you
will likely get them at a higher price than in an off-season. Make sure that
you get your sucker from recommended sources and buy the right sucker. This is
where some have burned their fingers badly, who bought the wrong suckers from
wrong sources and got nothing worthwhile at the end.
John Ayodele
Phone:2348035978352
Email: ayodeleade2002@yahoo.com
Saturday, October 26, 2013
PLANTAIN FARMING IN NIGERIA: Crucial Information for Starters
This is the 5th post on this highly acclaimed,informative plantain blog set up to educate Nigerians about the potentials in plantain farming business for wealth creation. If you are one of those Nigerians, foolishly roaming the streets for non-existing white collar jobs,put on your thinking cap and stay glued to all the posts on this blog.
Plantain farming is a profitable venture in Nigeria, where the land is fertile for its cultivation and there exists a large market to absorb the produce. The market is far from saturation and more farmers can come in and set up farms at any scale: micro, small or large.
If you do the financial analysis, you can make 400% returns if the farm is operated in excellent conditions. There are challenges that can hinder you from making the 400% returns. The plantain reports on this blog been updated with the challenges and how to address them. What makes excellent conditions is also in the reports.
Now that you
know how to access government agricultural lands all over the federation, go
ahead and pay as little as N2500.00 to lease an acre of land per year, at the
River Basin Authority’s offices covering your state. Ensure that they have
irrigation facilities to water the plants during the dry seasons. This is
important and you may not just assume.
Normally, a
River Basin must have irrigation facilities. But some may not have functional
irrigation facilities. Or their facilities may be inadequate to water all the farms in its jurisdiction.
If you are planning a large farm, you may have to set up your own irrigation facilities to provide water for the plants during the dry season. In the next post, I am discussing the issue of suckers for planting. If you need suckers for planting, there are suckers everywhere for sale. But buy from the right sources.
For your information, other River Basin Development Authorities in Nigeria include:
If you are planning a large farm, you may have to set up your own irrigation facilities to provide water for the plants during the dry season. In the next post, I am discussing the issue of suckers for planting. If you need suckers for planting, there are suckers everywhere for sale. But buy from the right sources.
For your information, other River Basin Development Authorities in Nigeria include:
Anambra-Imo RBDA
Benin-Owena RBDA
Cross River Basin Rural Development Authority
Chad Basin Rural Development Authority
Hadejia-Jamaare Rural Development Authority
Lower Benue River Rural Development Authority
Niger Delta Basin and Rural Development Authority
Sokoto-Rima River and Rural Development Authority
Upper Benue River Basin Rural Development Authority
Upper Niger River Basin and Rural Development Authority
Lower Niger River Basin and Rural Development Authority
If you need land leasing for farming, search for their offices and contact them.
John Ayodele
Phone: 2348035978352
Friday, October 18, 2013
Plantain Farming in Nigeria: How to Get the Land For Your Farm
In this post, i am discussing one of the sweet aspects of the plantain business which is about the availability of land for farming. If you want to do commercial plantain farming, land is available all over Nigeria.
Stop blaming the economy and the Federal Government for your joblessness if you are unemployed. Open your eyes wide, sit up and think straight. Nigeria is not a failed nation. The Lebanese, the Zimbabwean farmers and the Indians can see what the Nigerian can not see. It is a pity!
The lands are government agricultural lands managed by the River Basin Development Authorities (R.B.D.A) and there are many of them all over Nigeria in all the states of the Federation.
A tract of land measuring about 12 plots or the size of a football field can be leased from the authorities for about N2500.00 per year. You can set up with a plot as a starter.
To access the land, go to the office of the respective River Basin Authority and pick a form, pay the fees and within 48 hours, the land will be allocated to you as close as possible to where you want it. The payment is renewable for as long as you are using it,else it will be withdrawn and be reallocated to others.
The R.B.D.As have irrigation systems that supply water to the farms during the dry season. Also tractor services for plowing and cultivation are available at highly subsidized rates. Fertilizers and seedlings are also available at subsidized rates as well.
If you are one of those looking for salaried jobs in today's Nigeria, please stop that madness! Go pay N2500.00 for a hectare of land for plantain farming.
The Ogun-Osun River Basin Authority covers Lagos, Ogun, Osun and Oyo States. They have several offices in different states. Make enquiries there for how to lease land for farming.The land issue is sorted out and you have no excuse if that has been your problem.
John Ayodele
www.plantainrichesnigeria.blogspot.com
www.johnayodele.wordpress.com
Email:ayodeleade2002@yahoo.com
Phone:2348035978352
Stop blaming the economy and the Federal Government for your joblessness if you are unemployed. Open your eyes wide, sit up and think straight. Nigeria is not a failed nation. The Lebanese, the Zimbabwean farmers and the Indians can see what the Nigerian can not see. It is a pity!
The lands are government agricultural lands managed by the River Basin Development Authorities (R.B.D.A) and there are many of them all over Nigeria in all the states of the Federation.
A tract of land measuring about 12 plots or the size of a football field can be leased from the authorities for about N2500.00 per year. You can set up with a plot as a starter.
To access the land, go to the office of the respective River Basin Authority and pick a form, pay the fees and within 48 hours, the land will be allocated to you as close as possible to where you want it. The payment is renewable for as long as you are using it,else it will be withdrawn and be reallocated to others.
The R.B.D.As have irrigation systems that supply water to the farms during the dry season. Also tractor services for plowing and cultivation are available at highly subsidized rates. Fertilizers and seedlings are also available at subsidized rates as well.
If you are one of those looking for salaried jobs in today's Nigeria, please stop that madness! Go pay N2500.00 for a hectare of land for plantain farming.
The Ogun-Osun River Basin Authority covers Lagos, Ogun, Osun and Oyo States. They have several offices in different states. Make enquiries there for how to lease land for farming.The land issue is sorted out and you have no excuse if that has been your problem.
John Ayodele
www.plantainrichesnigeria.blogspot.com
www.johnayodele.wordpress.com
Email:ayodeleade2002@yahoo.com
Phone:2348035978352
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