Frozen Yam Chips Production in Nigeria, The Feasibility Report.

Yam (Dioscorea spp.) is an important food crop especially in the yam zone of West Africa. Although more than six hundred species of the tuber exist, only a few are important as staple food in the tropics. These include white yam (D. rotundata), yellow yam (D. Cayenensis), water yam (D. alata), trifoliate yam (D. dumetorum), aerial yam (D. bulbifera) and Chinese yam (D. esculenta).

West Africa accounts for 90-95% of world yam production with Nigeria the largest single producer. In 2004, global yam production was about 47 million metric tons (MT) with 96% of this coming from Africa.

Nigeria alone accounts for about 70 percent of world production. It is the second most important root/tuber crop in Africa with production reaching just under one third the level of cassava.

In recent times due to the numerous products (yam chips, pellets, starch) that can be processed from yam tubers and the growing need for hygienically well packaged ready to use food product by the growing middle class in Nigeria, there is a gap in the supply of frozen yam chips in Nigeria thereby prompting a shift in the demand-supply equilibrium in favour of frozen yam chips producers.

The supply gap has been identified to continue to expand as the population of the country which is estimated to be 160 Million continues to grow at 3.5% per annum.

The average consumption rate of yam and it bye-products in Nigeria is estimated at 0.5 – 1.0 kg daily.

The major emphasis of this study is the commercial production of frozen yam chips. Frozen Yam Chips is a product derived from Yam that are frozen to preserve them before actual preparation/use. Frozen yam is a product that takes off the stress as it is easy to prepare.

Frozen Yam Chips when prepared are mostly called French fries. French fries are batons of deep-fried yam. French fries are served hot, either soft or crispy, and generally eaten as part of lunch or dinner, or on their own as a snack, and they commonly appear on the menus of fast food restaurants. French fries are generally salted and are often served with ketchup; in many countries they are topped instead with other condiments or toppings, including vinegar, mayonnaise, or other local specialties.

The demand for the product is quite enormous and very high in Nigeria. The raw material (yam) is also readily available. The production technology is simple and the equipment’s are locally fabricated.

The proposed production volume is one (1) ton/day at one hundred percent (100%) capacity utilization and the plant would operate at eighty percent (80%) of the installed capacity for a single shift of eight (8) hours per day for three hundred (300) working days per annum and producing 240,000 packs of 1 kg of twelve pieces of frozen yam chip per annum. Input-output ratio of 1:0.8 was assumed from yam to yam chips.

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 Value Proposition 1.5 Critical Success Factor of the Business 1.6 Current Status of Business 1.7 Description of the Business Industry 1.8 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 Analysis 5.7 Cash flow Analysis 5.8 Viability Analysis 6.0 Business Risk and mitigation factor 6.1 Business Risks 6.2 SWOT Analysis

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