Nigeria’s coconut industry is valued at ₦50 billion annually, yet the country still imports over 60% of its coconut products (NBS 2024). This presents a massive opportunity for entrepreneurs to tap into this lucrative agro-business.
We have developed a comprehensive, bank-approved business plan that has helped over 50 agripreneurs secure funding from CBN, BOI, NIRSAL, and private investors.
HOW TO START A COCONUT FARM IN NIGERIA (OR TROPICAL REGIONS)
The global demand for coconut and its byproducts is booming—thanks to a wave of health-conscious consumers and industries relying on coconut oil, water, husk fiber, and copra. A coconut plantation is not just a sustainable agribusiness but a long-term asset that provides income for decades.
Coconut farming involves land preparation, planting high-yield hybrid seedlings, and maintaining the plantation through proper irrigation, pest control, and organic fertilization. Once matured (from year 3-6), a single tree can yield over 70–100 coconuts annually, depending on variety and climate.
The business offers multiple revenue streams—from fresh nuts to coconut oil production, shell crafts, coir products, and even coconut flour.
Market Potential
Nigeria ranks among the top coconut-producing countries in Africa. With a growing local demand for coconut oil, coconut water, flour, and virgin coconut-based cosmetics, the coconut farming business is becoming more lucrative than ever.
The Lagos State Coconut Development Authority (LASCODA) estimates that Nigeria currently produces over 250,000 metric tonnes annually, yet still imports coconut products to meet demand—proving there’s an existing supply gap waiting to be filled.
Globally, the coconut market is projected to reach $30 billion by 2026. Whether you’re supplying domestic processors, exporting fresh coconuts, or value-adding locally, the profit potential is undeniable.
Top Buyers in Nigeria:
- Food Processors (₦12bn annual spend on coconut oil)
- Cosmetics Companies (₦8.5bn on VCO)
- Exporters ($3.2/kg to Europe)
Pricing (2024):
| Product | Price |
|---|---|
| Mature Nuts | ₦300–₦500 |
| Coconut Oil | ₦4,500/liter |
| Coconut Water | ₦800/bottle |
Raw Materials Needed
The major inputs required include:
•Hybrid coconut seedlings (early-bearing, disease-resistant)
•Organic manure and fertilizers
•Drip irrigation kits (especially in drier regions)
•Mulching materials (to retain soil moisture)
Equipment Required
Though coconut farming is largely labor-intensive, some key tools and equipment include:
•Motorized tillers for land preparation
•Water pumps and irrigation equipment
•Pruning tools
•Harvesting tools (long-handled cutters)
•Nursery shade nets (for early-stage seedlings)
BUSINESS PLAN AND FEASIBILITY SAMPLE FOR COCONUT PLANTATION FARM
1.0 Company Summary
CocoRich AgroFarms Ltd is a mid-sized coconut plantation located in Badagry, Lagos—a region naturally suited for coconut growth due to its coastal soil profile and high humidity levels. The farm spans 20 hectares and uses high-yield hybrid coconuts sourced from reputable nurseries.
The business model is built around vertical integration—starting from cultivation and moving into value-added processing (cold-pressed oil, coconut chips, and virgin coconut water).
Our focus includes:
•Coconut cultivation and harvesting
•On-site processing of coconut oil and water
•Supplying to wholesalers, cosmetic brands, and local food processors
1.1 Site Selection & Land Prep
Ideal Conditions:
- Soil Type: Sandy loam (pH 5.0–8.0)
- Rainfall: 1,500–2,500mm annually
- Avoid: Waterlogged areas (<1m water table)
Land Preparation Costs (Per Acre):
| Activity | Cost (₦) |
|---|---|
| Clearing | 85,000 |
| Plowing | 60,000 |
| Drainage | 120,000 |
1.2 Seedling Selection & Planting
Best Varieties for Nigeria:
- Malaysian Dwarf (Early fruiting – 3 years)
- Panama Tall (High yield – 5,000 nuts/acre)
- Hybrid PB121 (Disease-resistant)
Planting Process:
- Spacing: 7m x 7m triangular system (100 trees/acre)
- Pit Size: 60cm x 60cm x 60cm
- Fertilizer: 500g NPK 15:15:15 per pit
2.0 Goals and Objectives
The primary aim is to establish CocoRich AgroFarms Ltd as a premium, eco-friendly coconut supplier in Nigeria and across West Africa. Key objectives include:
•Reach full plantation capacity within 4 years
•Develop a small-scale processing unit by year 5
•Create local employment opportunities through seasonal and permanent farm roles
•Generate steady cash flow from both fresh and processed coconut sales
3.0 Materials and Equipment
To fully kick off and scale, the following items are essential:
•2,000 hybrid seedlings
•Organic compost and soil enhancers
•Irrigation system installation
•Farm fencing and basic infrastructure
•Drying platforms for copra
•Coconuts de-husking tools
•Storage sheds and packaging materials
4.0 Competitive Advantage
Despite the growing competition in the agro-space, CocoRich AgroFarms Ltd is positioned to lead due to:
•Strategic location (close to processing hubs and Lagos ports)
• Use of early-yielding, disease-resistant varieties
• Commitment to organic and sustainable practices
•Flexible supply—catering to both bulk buyers and local processors
•Focus on value addition to increase margins and reduce waste
How To Download Coconut Plantation Feasibility Sample
Above is a part of the coconut plantation feasibility study template in Nigeria. If you want the complete coconut plantation feasibility analysis sample with the full financial plan, calculations, and more, follow the procedures to download it.
Pay the sum of N10,000 (Ten thousand naira only) to the account detail below:
Bank: GTBank
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Ac/No: 0238933625
Type: Saving
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the coconut plantation business plan template in Nigeria to your email address where you can easily download it.
