Coconuts - Nigeria's Next Forex Earner?


Picture credit: @greensprout
 I'd never seen so many coconuts in one place until we started working on this story and had to visit the Agbalata coconut market in Badagry...and yes I have to visit that place again to see the Badagry Slave Museum and Route.
     Okay, so we all know that coconuts are versatile fruits used for their water, flesh and husks in various industries like food and cosmetics. We also know that the coconut water is rich in potassium and is an effective re-hydration drink and that the oil can be used for hair and skin moisturizing, cooking, and even save your relationship!
     But do you know that Nigeria has about 1.2 million hectares of arable land available for coconut farming but only about 36,000 hectares has been cultivated, leaving room for a huge expansion? I mean with all the plans to boost the agricultural sector thereby reducing reliance on oil exports, this great market potential is still left untapped. Apart form small scale farmers, coconuts are grown only in the country's coastal areas but Nigeria is yet to significantly invest in the business...leaving everyone heading to the Badagry market to buy in bulk. We met a man who came all the way from Kano! What a trip that must have been for him! Coconut traders have to rely on supply from other West African countries like Ghana and Benin. The government says it is working on plans to distribute hybrid seeds that can yield fruits in less than four years.
     There is also a burgeoning industry for coconut water! My kids love coconut water. I bought 40 pieces for 2000 naira (6 U.S. dollars) from the Badagry market. Two friends Ese Aigbogun and Kola saw an opportunity to supply fresh coconut water so they started "Green Sprout" in 2016. They source for very fresh and still tender green coconuts and extract the water. It is manually distilled and no additives or preservatives are added. It must be chilled or frozen at all times. Please check them out on Instagram @greensprout ...buy Naija and support start-ups.

Please clink on link to watch video as used by CGTN Africa

Picture credit: @greensprout
Picture credit: @greensprout

Picture credit: @greensprout






Picture credit: +nneka chile 

Comments

  1. ujoh30 July 2020 at 16:19


    Hello,

    If you want to go into coconut farm business, There are so many company website this days like http://www.virtatrade.com that will enable you as a beginner to raise the fund you need to start up your coconut farm business without you seeking for a loan.

    This company is where many business dealers from all over the world generate fund that backup their various businesses financially.

    I used this company to backup my cocoa beans export business each time my business is running down.

    You can visit and register with the company website here http://www.virtatrade.com to raise the fund you need now to go into your coconut farm business.

    ReplyDelete

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