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Nairaland Forum / Nairaland / General / Business / Nigeria’s Cocoa Exports Climbed 47% Last Year (7325 Views)
Brief Summary Of All My Business Encounters Last Year - I Take A Bow / Nigeria's Cocoa Production Rises By 28%, Now Largest Non-oil Export Earner / Nigeria Cocoa In Old Ghana Sacks (2) (3) (4)
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by manny4life(m): 12:00pm On Jun 04, 2011 |
White007: @White007, Please understand that I'm not condemning the man, according to the response from @Kilode! that they were out of capital, that's why I said looks like someone did not forecast their earnings very well. However, if they are not running low, that's fine.;l |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by JimmyBoy1: 1:44pm On Jun 04, 2011 |
I was in ondo state last week and was oppotuned to see the balance sheet of a bank branch located at Ile-Oluji. I was shocked to find out that the balance sheet size was larger than size of other branches of the same bank located on Victoria Island. So I started acting questions,the mainstay of this branch is cocoa buz, also learnt that u will recoup your investment in the first year of planating your cocoa by the time you harvest plantain which is usually planted to creat shade for the cocoa at nursery stage. I was told most of the boys doing the business are all riding SUVs. I am working on how to start my plantation. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by tyson55(m): 2:30pm On Jun 04, 2011 |
Jimmy Boy: @Jimmy Boy, if really you want to start your own plantation i encourage you to go into it, you will not regret it, this i can assure you. But you have to be patient, because cocoa biz in seasonal. They have a new breed cocoa that takes three years ability to grow and produce fruits. Also if you don't have the capital to start you can as well contact multi-trex, they have a scheme they call (Multi-Trex Young Cocoa Enterprises Farmers) they help young graduate with loan to start up cocoa plantation. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by aribisala0(m): 2:30pm On Jun 04, 2011 |
typical nigerian !SUV is now a marker of market prospects ![]() ![]() ![]() i thought we were disussing the industry from the perspective of its long term future. i am not saying there is none but analysis should look at more fundamental issues. even from the individual investment appraisal perspective we would want to look at return on investment ROI so e.g. how does investing 10 million in this business compare with say catfish farming, running a beer parlour or poultry business. from a national planning perspective cocoa unprocessed is a commodity subject to price fluctuations from outside nigeria and like all commodities subject to boom and bust cycles. so from the viewpoint of government an unreliable source of foreign exchange long term. rather than focussing on current booms we should focus on other high value agricultural products whose demand is likely to soar over the next 50years given world population trends e.g the chinese love pork and pay good money for it. quite easy to produce too. if we must produce cocoa nigerian entrepreneurs should be looking at acquiring chocolate companies in the likes of belgium france etc that is where the real money is not selling cocoa beans and celebrating SUVs. there are several small good chocolate companies in these countries that have the expertise required. the chinese are doing this in the motor industry taking advantage of current economic vulnerability |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by LagosBoi2(m): 2:58pm On Jun 04, 2011 |
Its a business of the cocoa farmers in naija, it works better because it's not crude oil. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by Katsumoto: 3:21pm On Jun 04, 2011 |
manny4life: That's not how businesses operate. If a businessman waits until he has all the money he needs, then his business may never take off. Anyone who has written a business plan and gone into operation will tell you that the finanvial plan never goes according to plan. When you go for funding, investors want to see how you execute your plan and manage your business. No VC will give you money from the start. Most businesses run into cash problems even when they are profitable. Your continued operations is dependent on someone giving you a loan or buying into your company. This type of businesses are capital intensive and need government assistance. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by JimmyBoy1: 3:25pm On Jun 04, 2011 |
@Aribasala Bro, don't forget we are essentialy trying to make people realize that there are many profit making opportunities in the country that people often overlook and errornously assume that those ventures are bet left to the uneducated folks.So mentioning SUV was an attempt to correct this wrong notion and not to promote short sightedness as you were trying to suggest. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by tyson55(m): 3:45pm On Jun 04, 2011 |
Katsumoto: Katsumoto, you couldn't have said it better. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by OAM4J: 3:45pm On Jun 04, 2011 |
Jimmy Boy: I get your point jare. Nothing is wrong with driving SUV. Is a mark of a level of success in Nigeria. If am thinking of going into a business in Nigeria and I am shown someone who succeeded in buying an SUV in the course of doing a business, I will listen to his ideas and what he has to say. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by aribisala0(m): 3:58pm On Jun 04, 2011 |
jimmy na joke naa ![]() |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by aribisala0(m): 4:03pm On Jun 04, 2011 |
e be like OAM just buy SUV |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by JimmyBoy1: 4:04pm On Jun 04, 2011 |
@aribisalao. No wahala bros. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by OAM4J: 4:24pm On Jun 04, 2011 |
aribisala0: hehehe na so nau! ![]() thank you in advance for congratulating me. ![]() |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by Kilode1: 7:44pm On Jun 04, 2011 |
^^What is SUV, I think marrying 4 wives at the same time is a better Mark of success ![]() Ask those old cocoa farmers, cocoa boom = baby boom. . .SMH |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by manny4life(m): 7:49pm On Jun 04, 2011 |
Katsumoto: Was I saying how business operate, so how do u mean that's not how business operate? When you have a capital intensive project with a well thought out cash flow projections over 5 years, won't investors determine if it's suitable for them or not? Besides, every financial plans do not go as planned even with businesses that have been in business for too long; financial plans are guides and your vulnerability in business largely depends on how thorough your financial plan. No VC's will give you money from the start? Dude, this is so incorrect and WRONG. There are tons of reputable companies ranging from green initiative to huge capital intensive projects that had financial backing from VC's. Most business run into cash problems because again they did not forecast their cash flow projections in the long run. A lot of businesses tend to ignore the cash flow projections and that's how they FAIL. Just because your revenues looks strong and makes P&L great doesn't mean that you have enough cash for purchases. I would rather phrase it as "your continued expansion is dependent if someone gives you loan or buys into your company. If you given $1million for startup and forecast that 30% of that amount would be turned to inventory, 30% payroll and admin expense and another 20% other expenses, 10% contingencies, and the last 10% of that amount in Cash on hand (bearing interest of course) following this guide, as long as you don't exceed the 30% ($300,000) allocated towards inventory expense (including vendor invoices et al), you should be fine as long as your 30% doesn't go up 35%. My point it is regardless of how much one is given, businesses have to take extra precautions and look very closely at their Cash, just like you said, investors want to see how far and well u execute and manage your business. On that note, I WAS NOT saying they needed all the money they need, I was only saying if they running into cash problems for a $70million company, someone someplace did not project their cash structure well. The term earnings was a wrong choice of word but I meant it in this context. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by OAM4J: 7:56pm On Jun 04, 2011 |
Kilode?!: abeg that na for 1966 jor. If you wan oppress your enemies for naija or announce say u don arrive, just go buy one SUV pack for your door mouth. Cant understand it myself, but it is d reality for naija o, better no go back home till u don put one SUV for ship ![]() |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by Kilode1: 8:20pm On Jun 04, 2011 |
LOL @ "That na for 1966" So young folks of today don't know how to enjoy life and flaunt wealth anymore hmm Make I go dey save SUV money then. ![]() |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by Katsumoto: 8:36pm On Jun 04, 2011 |
manny4life: It is only well established companies that are looking to start new ventures or doing mergers and acquisitions that have their projections close to what was in the financial plan. No new company has ever gotten its financial plan right for the simple reason that most NEW entrepreneurs are overly optimistic. Most companies can not even forecast beyond 1 year and you are talking about long term forecast. The problem with forecasting is that no one knows tomorrow. There are too many variables such as game changers, the weather, changing consumer preferences, changing business climate, external factors, etc You should have named two or three companies that received VC funding right from the start and not after starting. The part in bold contradicts itself. manny4life: How do you pay attention to cashflow projections? You think businessmen don't know when they have cash problems? Knowing that you are running out of cash doesn't help. If you had projected that you would have a certain amount of cash at a certain point in time and it doesn't happen, what do you do? What do you do if you projected that you will shift 50 units of a product but shift 15 instead? What do you do if your suppliers are powerful and collect cash on delivery and your customers pay 90 days after sales? The point I am making is that writing a business plan is different from running a business. Business plans are more useful for existing businesses because their is a tradition and history that is useful when writing the plan. After writing your business plan, then get ready to see it invalidated as soon as you start business. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by firestar(f): 9:54pm On Jun 04, 2011 |
Shares anyone? |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by Nobody: 10:13pm On Jun 04, 2011 |
When you want to go into a business and draw up a business plan, you should always premise your plans and projections on the worst case scenarios. That is the only good foundation for a nascent business. That is why new businesses don't last. They premise their projections on overly rosy or optimistic scenarios that usually don't turn out the way they planned. Try to conceive the worst possible situations your new business will encounter and draft your business plan on that and I assure you you will have a high chance of succeeding. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by edoyad(m): 1:11am On Jun 05, 2011 |
Jimmy Boy:The govt is doing most of the overlooking. These are ventures they can partner with farmers and see their IGRs double in a matter of years. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by Nobody: 5:10pm On Jun 05, 2011 |
Good development. Less reliance on crude oil Hopefully our palm oil exports can be looked into also. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by aribisala0(m): 5:15pm On Jun 05, 2011 |
we should look into export of efirin leaves as well. |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by Thethy(m): 8:08pm On Mar 19, 2012 |
Re: Nigeria’s Cocoa Exports Climbed 47% Last Year by mikolo80: 6:45am On Jan 05, 2016 |
Kilode1:the old farmers should merge and sell shares on stock exchange or partner with cooperatives. |
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