My name is Unyime Ephraim Inyang, a native of Ikot Akpa Idem in Ukanafun Local Government of Akwa Ibom State, Nigeria. I am 35 years old and a graduate of Electrical Engineering Technology.
My project is to establish an oil palm plantation that at the beginning will contain 300stands of oil palm. The oil palms will start producing fruits after two years, and the ripened fruits will be harvested and processed into red palm oil which will be sold both for domestic consumption and to industries.
The seedlings for this plantation will be from the species that will give very high yield, such that 4 to 5 tonnes of palm oil will be harvested from each hectare of the plantation per year, after processing the palm fruits into red oil.
The plantation will be established in my Community, Ikot Akpa Idem, in Ukanafun Local Government Area of Akwa Ibom State, Nigeria.
The oil palm tree is one of the most useful trees ever known because all the parts of it are useful. The fruits are processed into palm oil and palm kernel oil, the leaves (fronds) are used for roofing houses in rural areas and camps, and the sap (palm wine) is a refreshing drink taken in parts of Africa.
Palm oil is red in colour and is used for domestic cooking in many countries. It is also used industrially in the production of soaps and cosmetics. Palm kernel oil, which is extracted from the same fruits, is also used for soaps and cosmetics production.
My motivation is that through this business I will be able to liberate the people of my community from abject poverty within 8 years from the day I start my plantation.
Presently, my community has a lot of fertile lands, and good portions for these lands contain naturally germinated oil palms. The unfortunate thing here is that the yielding of these naturally germinated oil palms is very poor to the extent that the people of the community do not see oil palms as anything that can bring sustainable income.
This situation has made 80% of the people of the community to live in abject poverty.
However, when I start harvesting from my plantation after two years, I will educate the people of my community with practical examples about the different species of oil palm, and they will see for themselves the need to do away with the poorly yielding naturally germinated specie of oil palm.
At this point, I will nurse the best species of oil palm seedlings, and distribute them to all in my community, and everyone will join me to make sustainable income from palm fruits (palm oil). From my analyses, 8 to 10 tonnes of palm oil will be harvested from this plantation yearly and can be sold at 2,800,000.00 – 3,500,000.00 Naira, equivalent to USD $14,231.20 – USD $17,766.50.
In countries such as Nigeria, Ghana, etc., red palm oil is in high demand domestically and industrially. Therefore I will make huge profits from this oil palm plantation.
Two hectares of land will be purchased for this plantation. To ensure planting the species of oil palm that will give the highest yield, the seedlings will be purchased from the Nigerian Institute for Oil Palm Research (NIFOR), and will be transported to the location of the plantation.
Ten casual workers will be employed to clear the land, uproot every plant, mark the land, do the planting, maintain the plantation every three months, apply fertilizer, harvest the ripe fruits and transport the fruits to the already existing palm oil processing ill for processing into palm oil.
With the help of my family, a palm oil processing mill has already been established and there is enough land space to facilitate safe processing of the palm fruits into palm oil. A good number of 25-litre jerry cans are already available for storing the palm oil.
The species of oil palm that will be planted in this plantation will start yielding fruits after two years. After processing the harvested palm fruits, 4 to 5 tonnes of palm oil will be harvested from one hectare of land, or 8 to 10 tonnes from the two hectares every year.
Considering today’s market price of palm oil:
1 tonne is at an average of 350,000.00 Naira (USD $1,776.65)
9 tonnes x N350,000.00 = 3,150,000.00 Naira (USD $15,989.85) per year.
Note: I am using today’s official exchange rate for all my naira to dollar conversions.
Purchase of 2 hectares of land = USD $4,500
Seedlings = USD $230
Transportation = USD $50
Fertilizer = USD $100
Diesel for processing the palm fruits into palm oil = USD $20
Labour = USD $100
TOTAL = US$5,000
Blogpost and picture submitted by Unyime Inyang (Nigeria) – unyiminyang[at]yahoo.com
The content, structure and grammar is at the discretion of the author only.
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