Ijeoma Ndukwe is a news correspondent for the British Broadcasting Corporation.
70% of the popular fruit, which is widely used as a snack, a drink and to make everything from oil to cosmetics, is imported from Nigeria, despite the fact that most of the country has the perfect climate for growing coconuts. Plans are afoot to make Nigeria self-sufficient in coconuts, as demand for coconuts increases both domestically and around the world.
In the neighbourhood of Isolo in the heart of Nigeria's commercial hub Lagos, Toyin Kappo- Kolawole runs a small factory that processes coconuts into milk, water, flour and snacks.
She started her business, De-Cribbs Cocogry Coconut, in order to source coconuts from the coastal town of Badagry.
She was unable to find coconuts in Nigeria and had to import fruit from Africa.
My product is more expensive because of it. She says she's losing customers.
Many entrepreneurs have been attracted to the industry.
Food, beverages, cosmetics, textiles, charcoal and even soil and energy can be processed from the husk to the final product.
Demand for coconut-based products has risen over time.
Nigeria has seen a surge in the number of processor entering the industry.
Demand for products is not affected by economic times. When global coconut oil supply was low, the average price of coconut oil went up by more than 50%.
Nigeria launched a coconut planting initiative in Badagry in order to promote the fruit as a cash crop.
It's part of a larger plan to help the country become self-sufficient.
Official figures show that Nigeria imported more than half a million tonnes of coconuts last year.
A couple, Ray Davies and her husband, retired army Major General John Davies, branched out into coconut farming after visiting a farm two hours away from the capital.
It was large and set on 150 hectares of land with a wall of mounds in the distance. The land was covered with green shoots.
Six years ago, a couple set up a farm to grow fruit and vegetables. They planted coconuts on 20 hectares of land in 2011.
With many manufacturers forced to import fruit from countries such as Togo, the Davies hope to fill this gap.
We don't have enough to do our own work. There is a market for it in this area.
The president of Nacoppman says that coconuts are becoming a cash crop.
It makes money for the economy. She says coconuts can increase the country's income.
There is arable land in our area. We have enough people to do the job. The weather allows us to get the best out of it. We should be exporting instead of imports.
The Coconut Sufficiency in Nigeria (cosin) is a government-supported initiative that aims to plant 10,000 hectares of coconut trees in most of Nigeria's 36 states in order to boost the domestic supply.
The ability to access high-quality seedlings is one of the major challenges facing farmers.
The hybrid tree is a crossbreed of the West African Tall and the Dwarf, which originated in Asia.
The hybrid fruits in four to five years, slower than the dwarf which fruits in two and a half to three years.
Abiodun, who runs a two-and-a-half-hectare farm in Badagry, says it's important to use hybrid seeds because of their high annual yield. They are not accessible for many farmers at $6 per seed.
If you want to replace what you have planted before, you may have to invest more.
It's difficult for small farmers like Mr. Oyelekan to ramp up production.
The Coconut Development Authority is tasked with helping the coconut sector to boost productivity.
The state is the biggest producer of coconuts in the country, but production is not keeping up with demand because of a surge in processing over the past 10 to 15 years.
In the last three years, we have encouraged a lot of people to cultivate to meet the processing need. When the trees are fruiting, the result of this effort will show.
Lascoda's plantations are used to distribute seeds to farmers.
They gave out 200,000 free coconut plants last year. They can only offer 80,000 plants. Coconut processor will continue to import fruit for now.
The Ministry of Industry, Trade and Investment sees the growth of the industry as a priority in order to tackle high rates of unemployment and reduce Nigeria's dependence on oil exports as a foreign currency earner.
We want to get to the international market beyond coconut production and consumption.
The founder ofJAM The Coconut Food Company, Ebun Feludu, believes that the government needs to improve basic infrastructure in order to achieve its objectives.
Power cuts and roads are not good in Nigeria.
Ms Feludu doesn't have electricity at her factory.
The government is pushing for exports of non-oil products. She says that the issues of power and roads are what will help.