Oil Palm Plantation and Red Palm oil Refinery
Explain your idea in details:
The oil palm industry in Nigeria is characterized by high level of unimproved method of production and unimproved oil palm seedling (Dura and Pisceria breed) on our plantations. Statistics states that 80% of palm oil producers in the country are small-scale or local farmers that uses crude methods which make the level of production to be very low and below efficient level and then causes lower output than the food demand in the country. Our vision is to invest in the industry to explore and maximize the great potential and capacity to provide massive job opportunities for youths to end unemployment and eradicate hunger/ malnutrition and poverty from our land. According to FAO forecasts, by 2020 the global demand for palm oil will double, and triple by 2050. Also, the fast increasing Nigerias population (174million as at 2014) is opposed to the declining palm oil local production in the country. This makes the investment a worthwhile, promising and needed for our healthy survival in the future. Our plan is to start by planting 3,000 trees of Tenera hybrid of oil palm seedling on a 20 hectare plantation (150seedling/ha). The Tenera hybrid of oil palm seedling is a highly viable breed for commercial purpose because of its high yield qualities, ability to reach production maturity earlier than other breed and higher nutritional value. The trees are expected to mature within two and half years. These trees, when mature, would produce between 160,000-200,000 kg of fresh fruit bunches (FFB) of palm fruit per year and processed into about 40,000 liters of cooking grade palm oil. It will generate roughly 8million per year in revenue (@ 200/liter) and create at least fifty direct and indirect job annually.
Expected impact of your idea on sustainable development
The project is expected to have the following impact in line with the sustainable goals and Nigerian economy: 1. Massive job opportunities: The project will employ at least twenty people upon commissioning, an additional fifty by end of first year and up to 100 direct, indirect, professional and non- professional workers by the third year. Also, more employment opportunities are bound to be created as the plantation grows, expand and production increases. 2. Solution to climatic change: The first stage of the project is to plant 3,000 trees of oil palm on a 20 hectare plantation. This will pay an important role in climate change. The destruction of forests contributes to the problem through the release of CO2. But plantation can help mitigate against climate change by removing CO2 from the atmosphere. Combined with the sun's energy, the captured carbon is converted into trunks, branches, roots and leaves via the process of photosynthesis. It is stored in this "biomass" until being returned back into the atmosphere, whether through natural processes or human interference, thus completing the carbon cycle. 3. Increased food supply and at a cheap price: Our vision is to work tirelessly to provide quality and affordable food for every home on earth. The organization for Economic Co-operation and Development stated in the 16th session of the United Nations Commission on Sustainable Development (UN CSD-16), that about 216 million people, translating to one out of every seven persons in Africa are classified as undernourished. 4. Improved standard of living in rural communities where the plantation is located. 5. Improved Nigerian economy through increased local production. 6. We are proposing developing cost effective biofuel machines that uses oil palm products as fuel instead of petrol or diesel to reduce carbon monoxide emission but preserve our air and environment.
Plans for implementation and sustainability
BUSINESS MODEL Our Products:
- Red Palm Oil for household consumption
- Crude palm oil as raw material for agro-allied industries
- PKO, PKC, Palm chaff etc.
- Personal source
- Private Investors & Shareholders
- Loan & Equity
- Aids, Grants and donations
- Arable land
- Working Capital
- Farm machines
- Human capital
- Agric Inputs
- Red palm oil processing equipment
- Planting and maintenance of oil palm plantation
- Harvesting of Fresh Fruit Bunches
- Processing and extraction of palm oil and other products from the harvested fruit
- Packaging and branding of the products
- Marketing and sales of products
- Individual/ household consumers
- Aggro- allied industries
- Sales Representative
- Wholesale and retail distribution
- Malls, Exhibition, trade unions etc.
- Hunger/ malnutrition- UN CSD-16 states that about 216 million people, translating to one out of every seven persons in Africa are classified as undernourished.
- Poverty and Unemployment
- Climatic change
- Sales of packaged red palm oil for human consumption
- Sales of crude palm oil to agro allied industries for their production purpose
- Sales of other oil palm derivatives such as PKO, PKC, Palm chaff etc.
- Consultancy and training services
- Farm tourism
I am Olugbemiga Augustine (born 12 August 1988), a young Nigerian entrepreneur, business Administrator and a Public Speaker on Intellectual Renaissance. I own a Bachelor Degree in Banking and Finance from Adekunle Ajasin University, Ondo state in Nigeria. I co-founded and serve as the Executive Director of Abegz De- Kings Multiglobal Ltd., a firm dedicated to researching people problem and moving fast in creatively solving them in a proactive way that also creates value for customer, job opportunities for people and maximizing the wealth of the firm and Africa at large. I founded of De- Kings Concept, an NGO dedicated to intellectual renaissance and helping youths develop and maximize their inborn potentials. This organization have help invested massively in the development of more than 100 youths annually through free skill acquisition programs, capacity building and mentoring platforms since inception in 2009. This brought me an award as a 'PROMISING FUTURE LEADER' from an NGO called Youth Alive Forum. I have strong passion for business management and solving peoples problem creatively. My vast research on the life and business principles of Aliko Dangote and Mr. Tony Elumelu (Nigeria foremost entrepreneurs) has been a source of motivation for my ambition to become one of the greatest industrialists Africa ever produced. I received an award of excellence from Akinyele Local Government authority of Nigeria in 2015 as Most Promising Entrepreneur of the Year and Most Innovative Student of the Year from Adekunle Ajasin University Akungba-Akoko Ondo State during my final undergraduate year in 2015 for creating an entrepreneurial club on campus that trains students on entrepreneurship and also link them with sources to raise little capital to start with. My vision in life is to create avenues that will eradicate poverty, hunger and malnutrition from the surface of the earth.