How to produce fufu powder for local, export markets

OLUMAKINDE ONI          

The increase in consumption, both at home and abroad, on the need to eat fufu being prepared from the powder has prompted the writer about this project, according to a recent research.

It was further discovered that existing producers in Nigeria couldn’t meet the demand of the users of this all-important product. Not only that, exports market for fufu powder is widening every day. In this regard, forward looking and aggressive investors can capitalise on this viable investment opening.

Investment justification

Raw materials for production of fufu powder are readily available in Nigeria. The basic raw material is cassava. Nigeria is the second largest producer of cassava in Africa after Zaire and fifth in the world.  About 10 million metric tons of raw cassava are produced in Nigeria annually. Nigeria has the potential (land and human resources) to produce more than 100 million metric tons per annum of cassava tubers. Cassava can be abundantly produced in Nigeria to meet industries requirement.

The demand for fufu powder in Nigeria and abroad cannot be overemphasised, as fufu is very rich in carbohydrate and the smooth texture, when prepared, is an attraction.

The fufu powder produced from factories and well packaged will gain instant acceptance from consumers.

The profitability of the project is not in doubt as it costs a maximum of N100, 000 to produce a ton of fufu powder, which is currently being sold at N300,000 (minimum) in the market.

A profit of N200,000 per metric ton of fufu powder produced is therefore possible. Other social and economic benefits derivable are employment generation, rural income generation, import substitution (thereby conserving our foreign exchange) reduction in social vices and increase in value added non-oil export.

Production technology/technical information

Fufu powder can only be produced via good fermentation and the use of stainless steel equipment. Its processing involves washing and peeling of raw materials, chipping, fermentation, pulverisation, sieving, sedimentation, sieving, dewatering, drying and packaging.  Implementation procedure involves feasibility study preparation, finance sourcing, plant and equipment sourcing, procurement of appropriate accommodation, recruitment of personnel, raw materials procurement, and commercial production take-off.

Profitability

Daily net profit of N200,000 has been computed, working for a conservative figure of 200 days in a year will yield N40 million net profit on annual basis.

This is no doubt a good source of livelihood for Nigerians, especially retired civil servants and armed forces, bankers, corporate bodies looking for means of livelihood and diversification. Serious minded investors will be put through all the stages of project implementation.