ESTABLISHMENT OF A PALM OIL PLANTATION AND PRODUCTION AND PROCESSING FACTORY
Explain your idea in details:
This project is to promote our local palm oil through creativity and innovative packaging and also to promote healthy living through the consumption of the palm oil.Also to liberate the people of my community from abject poverty within 5 years from the day I start my plantation. 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. 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. 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). 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 factory for processing.
Expected impact of your idea on sustainable development
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 poor local 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. Create massive job both direct and indirect in the factory, marketing and sales of the produced products. Especially, the project would employ 15 persons directly as the factory workers and sales personnel and more than 25 persons indirectly. The village women who help in selecting the fresh palm fruits which forms the raw material for this project is directly employed. She makes money with which they buy food items for the family, pay children’s school fees, and take care of the medical bills of the immediate family. The youths in the community who 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 factory for processing into palm oil also indirectly employed. Provide nutritional food through unadulterated, well package palm oil and in a well clean and hygienic environment that will help them to cook and live a healthy life through packaging the product in more hygienic environment with the right percentage of 2% free fat acid.
Plans for implementation and sustainability
BUSINESS MODEL: The business model of my project idea is entirely production or manufacturing based, production process transforms and adds value to the quality palm fruits and produces edible or cooking oil, sell in six plastic container sizes ranging from 250ml, 500ml, 1 liter, 5 liters, 10 liters and 20liters. VALUE PROPOSITION: Is trans-fat free, 15 times richer in bête-carotene than carrot, Bête-carotene is vitamin A that helps protect against diseases such as heart attack, blindness and cataracts by acting as anti- oxidants and no artificial sweetener, color and flavor, no animal ingredients and preservative will be used. CHANNELS: These propositions would be promoted, sold and delivered through the following channels 1. Sales representative 2. Wholesalers retail distribution 3. Malls, Exhibition 4. Trade union 5. Agents 6. Institutional such as schools and hospitals 7. Food service business REVENUE STREAMS: I intend to earn revenue from the value proposition through 1. Sale of package red palm oil in different sizes of plastic container for human consumption i. mini pack of 250ml and 500ml for low income households consumers ii. 1 liter and 5 liters for wealthy households consumers iii. 10 liters and 20 liters for business market like allied-agro industries for their production purpose and institutional. 2. sale of other oil palm derivative such as PKO, PKC, palm chaff etc 3. Consultancy and training services KEY ACTIVITIES: 1. Planting of the palm fruit seedlings 2. Harvested fresh palm fruits in bunches from the plantation 3. Processing and extraction of fresh palm oil and other products from the harvested fruits. 4. Packaging and branding of the palm oil in different sizes of plastic container 5. Marketing and sales of the finished products Key Partners: 1. Standard organization of Nigeria 2. The National Agency for Food and Drug Administration and Control (NAFDAC) 3. Financial institution 4. Government of Nigeria FINANCING SOURCE: 1. Grant and donation, aids 2. Private investors and Shareholders 3. Personal source 4. Bank (loan and equity)
I come from an entrepreneurial background, born on 21st November, 1984 (33 years old). My father is an entrepreneur, he owned a very big palm oil plantation where he harvested the fresh palm fruits, produced and processed it. Even at this, my parents believed education was the way into a 'good job', preferably in a profession, which would last a lifetime. Because of my love of books I chose Electrical Electronics Engineering. After my NYSC in 2012, I joined my father in his palm oil business as a trainee manager. In 2016 the yen to be self-employed started to develop, and it was a definite aspiration, To give myself a 'plan B', i applied for youth entrepreneurship support program through Federal government of Nigeria in collaboration with Bank of Industries Nigeria and was shortlisted and trained by African Management Initiative (AMI) in business management and entrepreneur. Over the years I studied many different business modalities which have added to my knowledge base, but in my practice I chose to focus on Palm oil production and processing. I founded National Integrity Youth Voice Assembly (NIYVA), a community based group that committed to empowering youths by building their leadership skills through educational, entrepreneurship programs for them to become positively change in the communities. This organization have developed more 500 youths through their NIYVA annually quiz completion, entrepreneurship skills development, peace building in the community since inception in 2014. This brought me a recognition award as a DAKKADA AMBASSADOR from Akwa Ibom State Government of Nigeria My motivation is that through this project I will be able to liberate the people of my community from abject poverty within 5 years from the day I start my plantation.