Virgin Coconut Oil (VCO) In Nigeria; The Feasibility Report.

Virgin Coconut Oil (VCO) is growing in popularity as functional food oil and the public awareness of it is increasing. It is expected that VCO will experience a dramatic growth in the market.

Virgin Coconut Oil (VCO) is extracted from fresh coconut milk obtained from mature kernel (12 months old from pollination) of coconut by mechanical or natural means, with or without the application of heat, which does not lead to alteration of the nature of the oil. VCO can be consumed in its natural state without the need for further processing.

Hence, VCO does not undergo chemical refining, bleaching or deodorizing. Virgin coconut oil is colorless, free of sediment and has natural fresh coconut scent. It is free from rancid odor or taste. Virgin coconut oil consists mainly of medium chain fatty acids. The fatty acids in virgin coconut oil are distinct from animal fats which mainly consist of long chain saturated fatty acids.

Virgin coconut oil consists mainly of medium chain fatty acids. The most important medium chain fatty acid found in VCO is lauric acid. It constitutes 48 % of VCO. Lauric acid possess powerful anti-microbial properties capable of destroying disease causing bacteria, fungi, viruses and parasites.

The demand for VCO is rapidly increasing in Nigeria. The fast – developing niche and high value markets for VCO as a food supplement, as a body moisturizer and a carrier oil for aromatherapy, as a hair conditioner etc. The national consumption of coconut oil is rising. Most of the supply of VCO into Nigerian market is from the Republic of Benin and Togo Republic.

The increasing demand can be associated to the awareness of the health benefits among consumers, hence the high prospect of commercial production and marketing of VCO in Nigeria.

This report examines the financial viability of establishing a virgin coconut oil processing plant in Nigeria.

The production capacity of the proposed plant is three (3) tons per day and would operate a shift of eight (8) hours each at seventy percent (70%) of installed capacity for three hundred (300) working day producing about one fourteen thousand (14,000) container of 500 ml container bi-monthly.

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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