Extraction of oil and cake from palm kernel seed

Published on May 4, 2016 um 05:14

Explain your idea in details:

The main objectives of the idea is to produce palm kernel oil and palm kernel cake for the city of its domicile, the entire state,the nation and world in general.The market for palm kernel oil and cake is both national and international. Nigeria with an estimated population of over 150 million people, a national population growth rate of 5.7% per annum and an average economic growth rate of 3.5% per annum in the past five years, has a large market for palm kernel oil and cake. The demand for palm kernel oil and cake is very high in Nigeria.This measure was aimed at stimulating the local production and attaining self sufficiency in edible oil production. The Palm kernel oil expelling business is primarily a raw material processing business. This is because the end product is still a raw material for the refineries that use it to produce edible vegetable oil and cake used for animal feed formular . The basic raw material in this industry is palm kernel nuts (PKN) and the finished products are palm kernel oil (PKO), palm kernel cake (PKC) and palm kernel sludge (PKSL). This is an all-year round business. The end products are in hot demand all-year-round. Because of the high demand, producers do not stock finished products.Buyers always book for the products in advance.The innovation to be taken is that the proposed company will be proactive and react to the needs of its publics including customers,suppliers,personnel and government authorities and take innovative steps to position itself to maximise benefits and minimise losses.

Expected impact of your idea on sustainable development

The market for palm kernel oil (PKO) is very large. About 80% of all the edible vegetable oil consumed is made from refined palm kernel oil. Currently refined palm kernel oil is now being exported to some different part Countries. The major buyers of palm kernel oil are vegetable oil refineries and soap making companies. Vegetable oil refineries go about daily to search for palm kernel oil wherever they can find any. These refineries are all located within the western and southern states of Nigeria,including the feed millers and soap making industries. Measures to evaluate success are; the location of the business will be in Oyo State Nigeria which is very critical to success of the venture because it would ensure easy access to raw materials that is abundant in the region and also ensure a large and sustainable market of the finished products in the huge industrial estates in the state and its environs. This project will bring good income to the rural people in the community, improving the economic well-being of the rural areas. The project anticipates important positive social impact both through opportunity for regular employment and through participation in organized industry. In this regard Nigerians at every level of the project, from workers to investors and owners are included. It is also believed that these factors will lead to reduced population pressure on the cities, by helping to make rural and urban life more attractive and productive especially in the state the business is established.

Plans for implementation and sustainability

The first five years will be used to consolidate its hold on the raw materials bases while continuing its production process in the state of domicile and the region as a whole. There after we will venture into refining of palm kernel oil into edible vegetable oil and processing of palm kernel cake into animal feeds. Palm tree plantations will also be ventured into as a backwards integration project.
FINANCING REQUIREMENTS
Application for a capital of N5,000,000 would be made to interested members in terms of grants and funding,angel investors,equityholders or loans in order to meet up with the funding needs of the young enterprise. The N5,000,000 five million Naira($25,126) capital would be : Machines and equipment N2,600,000($13,065)
Working capital (30 metric tones of kernel nuts)
   at N80,000 per ton is N 2,400,000 ($12,060)
   Total capital :N5,000,000($25,126)

Your profile

My name is Ala Ademola Victor. I am from Ikole local government area in Nigeria, I was born on 16th of August 1982,I studied Chemical Engineering in one of the respected universities in Nigeria,which also goes in the processing of materials. What motivates me is former president of Nigeria Olusegun Obasanjo in 2005 who introduced the presidential initiative on the development of edible oil production over a period not exceeding three years in Nigeria. I have a passion for business, development also for trying out new concepts. With the business skills, financial literacy and vocational skills, I have acquired to become a successful entrepreneur.

Stage of Idea

planning stage

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Comments

August 25, 2016 08:25

@ Samuel Cruz...palm kernel oil is so useful to the economy...having diffrent products in palm kernel oil is quite essential...you can get ffa which is free fatty acid which is used as surfactant in soap and detergent...superheating the oil with the presence of hydrogenation can result to margarine and kernel oil in its crude form can be converted to vegetable oil...hope this reply will help you as well thanks.

August 25, 2016 05:36

What other product can I get from palm kernel oil?

August 21, 2016 21:06

You conceived a great idea. Sure it's great, when it comes to social problems, your idea is the real solution. I support it by votes and comments. Just don't give up if want to implement it!

Ifeoma

July 15, 2016 22:43

wow! tanx Mr.Ade for this great project idea... i see our Nigeria oil palm sector improving. I wish you Goodluck. you have my vote.

Yemisi

July 15, 2016 18:58

Nice idea!!! I wonder why such ideas of yours couldn't be implemented upon...Kudos you!!!

Abdulmalik

July 15, 2016 18:28

Hello Ademola!
I consider this initiative of yours very necessary because it provokes the creative idea of other young Nigerian's in our current recession. It's a welcome development, a big yes for me.

June 15, 2016 11:36

Hi dear Ademola!

I find your idea really great! It's perspective, very creative and really relevant these days! I believe you will achieve success with it. I wish you good luck and vote for you.
Please check out my idea and please vote for me too if you find my idea interesting.

Cheers,
Anna

June 13, 2016 18:08

Hi, you have a good idea there THUMBS UP.
I have cast my vote for you!
Please i need you support also and a comment will also help. please check out my idea by clicking "Pwavodi Tanihungoama
Joshua" above, and give your valuable comment/advice.

https://www.entrepreneurship-campus.org/ideas/4/3490/

Best Idea Category Do you know that NEEM saves Lives

Also, if you like my idea, PLEASE vote for me!
Thank you in advance for your time.
Best,
Joshua

May 18, 2016 04:31

@Sabriino Clair thanks Sire,that's another part of our focus in due time,research and development on vegetable oils and its free fatty acid(ffa) at large,also the development of biofuels from the kernel shells won't be underestimated.

May 18, 2016 00:58

Very interesting project. The plan is right. Such project will be success in the focus industry. upon development, research can be done on the products which you will be able to claim functional properties.

May 4, 2016 20:55

@Dielamo,of course agriculture can never be ommited in a country...The earlier the better we just face the truth,its lack of wisdom when you are endowed in a resources and still be begging for the like product.We just have to go zero hunger and a conducive green vegetation.

May 4, 2016 20:47

@Tochukwu...thanks on that not even the oil only,the cake is also essential to livestocks,even the cake is been deoiled and serves as biofuel in some countries,creation of wealth of a country can't do without this golden opportunity if we can heed to the call.

May 4, 2016 09:20

I am glad to see youths like me embracing agribusiness. This is the kind of initiative we want, not hustling for white-collar jobs. Providing the food that feeds the nation and the world, I see it as a prestige. Currently, Venezuela is suffering from acute food shortages. Venezuelans queuing up and scrambling for food items. We should produce what we eat and consume. Oil palm kernel business is a very viable business in Nigeria. Previously, Nigeria was the largest producer/exporter of oil palm in the world before crude oil came in and dwindled it fortunes. I am happy to see you contribute in revamping Nigeria oil palm sector. Goodluck with your idea.

May 4, 2016 07:08

Congrats Ade, finally you have published your project for us to see what you are into.
PKO is one of the best Oil in Soap making. My elder bro who owns a soap producing company buys PKO in drum from local Suppliers here in Aba.
I also believe that your Oil Extraction works will help create more jobs for many Youths in your community. On the other, online presence through Facebook, website etc will also help move your product sales. All the best sir and from #eteicon ~~ cheers.