Perfect Poultry Business Plan & A Feasibility Study In Nigeria
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The Nigerian poultry industry is estimated at ₦80 billion ($600 million). Likewise, is comprised of approximately 165 million birds, which produced 650,000 MT of eggs and 290,000 MT of poultry meat in 2014. Similarly, has grown tremendously. From a market size perspective, Nigeria’s egg production is the largest in Africa (South Africa is the next largest at 540,000 MT of eggs) and it has the 2nd largest chicken population after South Africa’s 200 million birds.
It is a fact that Nigeria presently consumes 1.5 million MT of frozen chicken annually. As at 2015, the locally produced chicken was estimated at 360,000MT, a capacity utilization of 46 percent in an industry that currently boasts of a 680,000MT installed capacity. In the same year, 1.2 million MT of frozen chicken, valued at N660 billion (equivalent to $2.75 billion) was imported.
There are basically three different breeds of bird for poultry business. We have the Broilers, Cockerels, and Layers. The Broilers grows very faster and are ready for sale at 12 weeks from hatch. Cockerels grows slower and can take up to twenty four weeks before they are matured for marketing. But, Cockerels are reliable in terms of survival and withstanding bad weathers. They are more resilient, and can absorb shocks far better than Layers and Broilers.
Looking at this statistics, it shows that the demand for poultry product is so high and we are unable to meet demand locally. With the ban on importation of poultry products into the country, a huge market has been created for smart entrepreneurs to tap from.
Poultry Farming is a bit capital intensive – it’s all like trading money to make more money. You need to prepare for this especially if you wants to start on a higher scale. But be assured of making back whatever amount of money you invested in the business in multiple fold within a short period of time. Before you venture into poultry farming business, you need to seat back and do proper calculation and planning; make sure you have idea of all the costs involved.
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Similarly, it shows how much it will cost you to own your desired business, what your money can afford. The kinds of product you will need to minimize input in other to maximize output. Likewise, how much returns you will get at the end of each accounting year until your business break-even on its initial investment capital. Lastly, this will give the intending business person or investor or farmer, a vivid idea on the possible benefit he or she stands to gain, when he or she starts doing the business. However, the intending business person or investor or farmer will not need a soothsayer to make decision for him or her.
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