YAP Proposal #352: Oil palm plantation (Unyime Inyang, Nigeria)

Unyime

Who

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.

What

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.

Why

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.

Unyime2However, 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.

 How

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.

Unyime3Ten 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.

Budget

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.


This post is published as proposal #352 of “YAP” – our “Youth Agripreneur Project”.

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30 thoughts on “YAP Proposal #352: Oil palm plantation (Unyime Inyang, Nigeria)

  1. @ Ubong Uboh:
    Thanks, transformation of our local communities is always my dream, and the time to start doing something about it is now.

  2. @ Ubong uboh
    Thanks; transformation of our local communities is always my dream, and the time to start doing something about it is now.

  3. Great idea Unyiminyang. Palm Plantation is a lucrative business. I’d love to have this specie of palm fruit grown in my community too.

  4. Nice creativity, this will reduce the rate of unemployed youths in our society and as well boost our country economy.u, Keep it up.

    1. @ Engr Joseph Jimmy
      Thanks for the encouragement; how to contribute to the betterment of those poor and unemployed in our society is really my motivation.

  5. Really, this is another great way to diversify our Economy, increase employment, reduce the high rate of unemployment among men, women nd youths. Reduce poor in host community nd others, Increased the standard of living nd development in our nation.
    Keep on keeping on.

    1. @ Chiemeka Sampson
      You have really understood my motivation; we really need to do something so that the situation those in abject poverty can be alleviated.

  6. This is really nice . I wish you the very best . Keep the focus. I also intend going into such business venture in the near future.

    1. @ Joseph Oyakhire
      Thanks for the good wish. I have determined to bring this plan to a reality; situations of many in the society are given me much concern

  7. A great idea, apart from being your little way of giving back to the community, this will create jobs for the teeming youths who are unemployed. Good luck.

    1. @ Tanimola Ayodeji
      You are very right; and getting some unemployed youths gainfully engaged will go along way reducing crime in our Society.
      Thanks, bless you.

  8. Great idea n gud planing strategies. I pray that God connect you people that will assist you to bring this dream to realization. With this vision so many people will be affected for good. I wish you gudluck sir

    1. @ Udofia Ima-Obong
      I will like to say a big Amen to your prayer for me; thanks very much and God bless you real good.

  9. This is good and Worthy of emulation. keep on the good job sir. This will go a long way in ameliorating the hardship and suffering of our people. kudos to you.

  10. This is a brilliant idea, that is not very capital intensive,and offers opportunity to create jobs for youths in the society.
    But do a bit more feasibility study.
    Labour for 100 dollar is not realistic.
    You constantly need to prune and take care of the field for the next 2-3yrs without profit.
    It’s a brilliant idea. I wish you all the best

    1. @ Noah
      Labour of 100 dollar is realistic; after the first 2 to 3 weeks, the job will no longer be every day. Again, I know how mush laborers collect in my community, I will even add some money to what they are have been collecting. I have done an accurate feasibility study.
      Thanks for your concern.

  11. This is a fantastic idea, good motivation. The only outcome I see is success. Please, when you kick-start this, tell us how we can be a part of this great initiative. Keep it up.

  12. @ Ogbonnaya Okorie
    Țhanks for foreseeing the huge success in this business.
    I’ll certainly bring to your awareness once I start, and I’ll give you all the necessary supports for you to establish it in your community, so that those in your community will also benefit from the business.
    Once again, thanks.

  13. I want to set up a palm plantation in Ibadan. I’ll need your help. Could you, please, give me a link to you?

    08093326855

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