Tuesday, March 25, 2014

PLANTAIN FARMING IN NIGERIA: HOW TO ACCESS LOANS FOR YOUR FARM



HOW TO ACCESS LOANS FOR YOUR PLANTAIN FARM
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
www.plantainrichesnigeria.blogspot.com
www.cassavarichesnigeria.blogspot.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:


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.

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 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

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 (2)



This blog was set up for the benefit of Nigerians, especially starters interested in plantain farming business, who need information about it.

The plantain sucker can be cultured on a farm for a period, say 3 months. If you buy a cultured 3 month old sucker and transplant on your own farm, it will take about 8 months from planting to harvest. A 3 month cultured sucker has attained a certain height.

It means a shorter turnaround time from planting to harvest. If you are planting a fresh sucker, that will start growing from scratch, then you have to wait up to 12 months from planting to harvest. You can get cultured suckers from farmers who have them on their farms and are willing to sell. There are two benefits to you:

One, you buy at a cheaper price than you will if you buy during the next planting season. Two, you will not wait 12 months from planting to harvest. If you are a starter, ensure that you are buying the improved variety sucker and buy from the right sources. Do not be deceived to buy the local variety sucker if what you want is the improved variety sucker. Open your eyes oh!

John Ayodele

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


Saturday, October 26, 2013

PLANTAIN FARMING IN NIGERIA: Crucial Information for Starters


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:
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