Independent Newspaper Nigeria - Breaking News from Nigeria and the World
Tiwa Savage Bags Honorary Doctorate Degree
Charly Boy Applauds Peter Obi For Joining Presidential Race
Pastor Adeboye Eulogizes Wife At 74
Osun Election: PDP Accuses APC Of Plot To Bribe INEC
Osun: PDP Alleges APC Plot, Scheme To Bribe INEC, Police
Tinubu’s Muslim-Muslim Ticket: Report About DSS Advisory To Buhari False…
Arsenal Identify £42m William Saliba Replacement
Lewandowski: Barcelona, Bayern Close To Agreeing Deal
Koulibaly Pens Emotional Parting Message To Napoli Ahead Of £30m Chelsea Transfer
Nigeria’s Inflation Jumps To 18.60% In June
Court Restrains PENGASAN From Presenting Presidential, Other Candidates For TUC…
Agribusiness: Oyo Govt. Charges Newly Trained Desk Officers, Facilitators On…
Biden Lands In Saudi Arabia To Meet King, Crown Prince
Ukraine Cuts Ties With North Korea Over Breakaway Regions
TEXEM UK Warns Of Emerging Cyber-Security Threats In Nigeria
Eid-el-Kabir: Fuel Scarcity, Hike In Transport Fare Dampen Festivity
Beyond Ransom: Murder Of Clergymen A Jihadist Agenda, Say Clerics, Security Experts
2023: Why There’ll Be No Female Presidential Candidate
Nigeria Needs Technocrat As President In 2023 – Opeodu
Twenty Reasons Why The Judgement Day Is Special
Only The Wise Serves God
Nigeria is the largest market in sub-Saharan Africa with population of over 200 million growing at 3 Percent annually.
The economy recorded impressive growth of 7.85 percent in 2010 and 7.72 percent as of the second quarter of 2011 compared to 5.2% forecast for sub-Sahara Africa and food inflation has been on a downward trend from 14.1% in October 2010 to 9.7% in October 2011.
Petroleum powers the country‘s economy and petroleum exports account for 20 per cent of GDP, 95 percent of total export earnings and close to 85 percent of federal government revenue, According to Global Agriculture information network.
Nigeria, with her population, provides a large and attractive retail food sector.
The major traditional foodstuffs consumed by majority of the population including, corn, cassava, rice,sorghum, beans, vegetables, tubers, and seafood (fish) are predominantly unprocessed and/or semi-processed.
However, changing demographics and lifestyles are resulting in increasing consumer preference for wide range of convenience, processed and packaged as well as nutrition foods.
These are assisting Nigeria‘s retail food sector to expand, as a result food processing and packaging has become a good business venture to go into for both local and export markets.
The Food Transformation Result
Although the traditional open-air markets remain the dominant channel for Nigeria‘s retail food sales, the country‘s retail food sector has been undergoing change over the last decade with international Supermarket brands entering the country; gradual improvement in the power sector, new malls being constructed according to international standard and the steady transformation of informal markets into more formal and modern facilities are setting new bars by providing a wide choice of shopping experiences in a modern, customer-oriented, building.
Any food that are consumed in Nigeria can be processed and packaged for local and international consumptions, such as,cassava,yam,plantain,Rice(local&foreign)beans, soya beans(grains&powder) crayfish,paper(sokoto,nsukka) potatoes(Irish/local)okpa,Gari(ijebu,Ngwa,Benue&Edo)etc. Some of the machines used can be fabricated locally.
Our focus is on healthy food with high in demand both for local consumption and international market. You can process them with litter or no complex technicality, such as:
• Corn flour meal (white and yellow) can be packaged using potatoes flour as a binder.
• Dawa Acha meal: Very healthy and organic meal that can also be used for weight loss.
• Potatoes Flour Meal: very nutritional, full of fiber and good for all age.
Food Processing And Packaging Requiremetns
• Location of business area, you have to consider some factors while locating your business, power supply, raw material, storage facilities, market ,and the land should be up to 1000 squarmeters.
• Factory building which must be standard and inline with regulatory bodies’ specifications.
• Business registration (cooperates affairs commission, Nigeria Export Promotion Council, Standard Organization of Nigeria/National Food, Drug Administration and Control, local government etc)
• Equipment (Flash dryer, packaging machines, Granding machines, weight machines, etc)
• Motor vehicles for distributions of products
The return on this project is quite attractive and impressive that it would be difficult for any financial institution especially micro- finance banks with discerning credit officers to turn down any loan request for funding this project.
Promoters of this venture will also feel comfortable to release their hard earned money to finance this project because food processing business is a business with 100% return on investment in Nigeria today going by our population and improved standard of living.
With less than N1,000,000 you can comfortably start this business anywhere in Nigeria, even in your house, all you need is weighing machine,sealing machine and packaging material which will not cost you more than N200,000 depending on the scale you want operate.
But, you are advised to process or package only locally sourced foods to avoid high over head cost.
As Dollar rate to Naira is becoming higher every day and cost of Agro-commodities are on increase in the market. People are now patronising locally processed food. Food processing is all about adding value to raw food.
Chinedu Agbaji is a correspondent with Independent Newspapers.
Ojude Oba Fiesta: Awujale Lauds Adenuga, Glomobile’s Promotion Of Nigeria’s Value Systems, Cultures
Your email address will not be published.
Save my name, email, and website in this browser for the next time I comment.
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Independent Newspapers Limited, registered on July 17, 2001 (RC No: 419927), commenced publication on October 1, 2001. With registered office at 8, WEMPCO Road, Ogba, Ikeja, it publishes INDEPENDENT, Monday - Friday, Saturday Independent, Sunday Independent, independent.ng, TV Independent on YouTube and IndependentNgr (Facebook, Twitter & Instagram).
Tiwa Savage Bags Honorary Doctorate Degree
Charly Boy Applauds Peter Obi For Joining Presidential Race
Pastor Adeboye Eulogizes Wife At 74
Osun Election: PDP Accuses APC Of Plot To Bribe INEC
Osun: PDP Alleges APC Plot, Scheme To Bribe INEC, Police
Tinubu’s Muslim-Muslim Ticket: Report About DSS Advisory To Buhari False…
Arsenal Identify £42m William Saliba Replacement
Lewandowski: Barcelona, Bayern Close To Agreeing Deal
Koulibaly Pens Emotional Parting Message To Napoli Ahead Of £30m Chelsea Transfer
Nigeria’s Inflation Jumps To 18.60% In June
Court Restrains PENGASAN From Presenting Presidential, Other Candidates For TUC…
Agribusiness: Oyo Govt. Charges Newly Trained Desk Officers, Facilitators On…
Biden Lands In Saudi Arabia To Meet King, Crown Prince
Ukraine Cuts Ties With North Korea Over Breakaway Regions
TEXEM UK Warns Of Emerging Cyber-Security Threats In Nigeria
Eid-el-Kabir: Fuel Scarcity, Hike In Transport Fare Dampen Festivity
Beyond Ransom: Murder Of Clergymen A Jihadist Agenda, Say Clerics, Security Experts
2023: Why There’ll Be No Female Presidential Candidate
Nigeria Needs Technocrat As President In 2023 – Opeodu
Twenty Reasons Why The Judgement Day Is Special
Only The Wise Serves God
Tiwa Savage Bags Honorary Doctorate Degree
Charly Boy Applauds Peter Obi For Joining Presidential Race
Pastor Adeboye Eulogizes Wife At 74
Osun Election: PDP Accuses APC Of Plot To Bribe INEC
Osun: PDP Alleges APC Plot, Scheme To Bribe INEC, Police
Tinubu’s Muslim-Muslim Ticket: Report About DSS Advisory To Buhari False…
Arsenal Identify £42m William Saliba Replacement
Lewandowski: Barcelona, Bayern Close To Agreeing Deal
Koulibaly Pens Emotional Parting Message To Napoli Ahead Of £30m Chelsea Transfer
Nigeria’s Inflation Jumps To 18.60% In June
Court Restrains PENGASAN From Presenting Presidential, Other Candidates For TUC…
Agribusiness: Oyo Govt. Charges Newly Trained Desk Officers, Facilitators On…
Biden Lands In Saudi Arabia To Meet King, Crown Prince
Ukraine Cuts Ties With North Korea Over Breakaway Regions
TEXEM UK Warns Of Emerging Cyber-Security Threats In Nigeria
Eid-el-Kabir: Fuel Scarcity, Hike In Transport Fare Dampen Festivity
Beyond Ransom: Murder Of Clergymen A Jihadist Agenda, Say Clerics, Security Experts
2023: Why There’ll Be No Female Presidential Candidate
Nigeria Needs Technocrat As President In 2023 – Opeodu
Twenty Reasons Why The Judgement Day Is Special
Only The Wise Serves God
Welcome, Login to your account.
A password will be e-mailed to you.