Nigerian agriculture is
characterized by considerable regional and crop diversity. Analysis of this sector, particularly the
food sub-sector, is fraught with serious data problems. However, the available statistics provide a
broad overview of development in agriculture upon which we can make some broad
generalizations about its role in economic development and structural change in
Nigeria.
In the 1960s, the agricultural
sector was the most important in terms of contributions to domestic production,
employment and foreign exchange earnings.
The situation remained almost the same three decades later with the
exception that it is no longer the principal foreign exchange earner, a role
now being played by oil.
The sector remained stagnant
during the oil boom decade of the 1970s, and this accounted largely for the
declining share of its contributions. The
trend in the share of agriculture in the GDP shows a substantial variation and
long-term decline from 60% in the early 1960s through 48.8% in the 1970s and
22.2% in the 1980s. Unstable and often inappropriate economic policies (of
pricing, trade and exchange rate), the relative neglect of the sector and the
negative impact of oil boom were also important factors responsible for the
decline in its contributions.
On its diversity, Nigerian
agriculture features tree and food crops, forestry, livestock and fisheries. In 1993 at 1984 constant factor cost, crops
(the major source of food) accounted for about 30% of the Gross Domestic
Products (GDP), livestock about 5%, forestry and wildlife about 1.3% and
fisheries accounted 1.2%.
One of the food crops grown in
Nigeria is Cowpea {Beans}. Cowpea is an important source of protein in both
urban and rural Nigeria; not surprising, therefore, is also the fact that
Nigeria is also the largest producer and consumer of cowpea in all of Africa.
More than 8 million hectares of cowpea are grown in West and Central Africa.
Nigeria is the largest producer with 4 million ha, followed by Niger, 3 million
ha. Other producers are Mali, Burkina Faso and Senegal.
The above implies the market
potential of the product in Nigeria and Foraminifera Market Research seeks to
expose the financial viability of producing cowpea flour in Nigeria.
Cowpea grain contains about 25%
protein, and 64% carbohydrate and its potential in the alleviation of
malnutrition among resource poor farmers is inestimable. Cowpea flour is used
in the preparation of akara (fried cowpea paste), danwake (cowpea dumplings)
and moin-moin (steamed cowpea paste) and surely provides working mother the
opportunity to prepare this favorite meal with the comfort it provides.
The various which the product the
product can be put to coupled with the nutrition and medicinal effects of
cowpea, makes cowpea flour a high soughted after product.
Cowpea flour is a cheap source of
protein and carbohydrate and the product can be marketed through market women,
food canteens, hotels and supermarkets.
The demand for the product is
quite high in Nigeria and the raw material is also available in commercial
quantity.
Report Details:
Report Type: Pre- Feasibility Report
Formats of Delivery: PDF / MS WORD
No. of Pages: 34 Pages
Publisher: Foraminifera Market Research
Release Date: 30/08/2015
Language: English
Delivery time: 24– 48hours
Table of Contents:
EXECUTIVE SUMMARY
1.0 Business Overview
1.1 Description of the Business
1.2 Vision and Mission Statement
1.3 Business Objective
1.4 Critical Success Factor of the Business
1.5 Current Status of Business
1.6 Description of the Business Industry
1.7 Contribution to Local and National Economy
2. Marketing Plan
2.1 Description of product
2.2 Product Packaging and delivery
2.3 The Opportunity
2.4 Pricing Strategy
2.5 Target Market
2.6 Distribution and Delivery Strategy
2.7 Promotional Strategy
2.8 Competition
3. Production Plan
3.1 Description of the Location
3.2 Raw Materials
3.3 Production Equipment
3.4 Production Process
3.5 Production Cost
3.6 Stock Control Process
3.7 Pre-Operating activities and expenses
3.7.1 Operating Activities and Expenses
3.8 Project Implementation Schedule
4.0 Organizational and Management Plan
4.1 Ownership of the business
4.2 Profile of the promoters
4.3 Key Management Staff
4.3.2 Management Support Units
4.4 Details of salary schedule
5. Financial Plan
5.1 Financial Assumption
5.2 Start up Capital Estimation
5.3 Source of Capital
5.4 Security of Loan
5.5 Loan Repayment Plan
5.6 Profit and Loss Account
5.7 Cash Flow Analysis
5.7 Viability Analysis
6.0 Business Risk and mitigation factor
6.1 Business Risks
6.2 SWOT Analysis
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