Are you interested in starting a cassava processing business in Nigeria. Below is the cost of starting Cassava Processing Mill in Nigeria.
Machines and Equipment required for cassava processing business
The machines and equipment to be purchase include;
- Auto Fryer
- Hammer Cyclone
- Scales and Sealing machine
- Cabinet Dryer
- Manual Fryer
- Cassava Chipper
- 25 KVA generators
- Truck (optional)
Read also: Cost of Starting Fish Farming in Nigeria
Cost of starting Cassava processing business
The detail cost of starting cassava processing mill is as follows;
|Scales and Sealing machine||N290,000|
|25 KVA generator||N400,000|
|Admin Start-up Expenses|
This is just a rough estimate of the cost. It may less or high than this depending on your financial capacity.
Cassava flour is wheat flour good substitute. Only it alone can generated over N25 billion from 125,000 tons contributing to Nigerian economy in 2014. Nigeria, however imported over N635 billion worth of wheat flour in 2014 from the USA losing minimum of $2 billion per annum in foreign exchange (FAO, 2014) for local preference of wheat flour to cassava flour.
What is the return on investment, payback period and estimated first year sales?
An investment of N27.5 million can yield N6 million plus net profit after tax from Garri and cassava flour alone. This means you can regain your investment in 4 to 5 years based on projected first year sales of N164 million and 15% average year on year sales within same period.