PALM OIL PLANTATION AND PROCESSING
We are proposing to develop a medium scale oil palm plantation with maize and plantain production in Iwo Local Government in Osun State, Nigeria. 50 hectare (125 acres) of land is to be acquired for this purpose. 47 ha would be used for cultivation of oil palm and maize. These crops are crossbreed for 2 1/2 years. Plantain would be planted separately on 1 ha of land. The remaining 3 ha would oil palm processing and construction of farm storage.This project is expected to generate N10,000,000.00 per annum ($60,000). It is expected to have 2,700 litres of palm oil per hectare.
Objectives & Vision
This project would seek to support the vision of Federal government through increased production of these food and cash crops to ensure local food security and potential for future exports to boost the National Income. While the mission is poverty reduction and creation of employment for the populace as it would be revealed in this survey that agriculture is a profitable venture.
Keys to Success
The writer have identified three keys that will be instrumental in its success. The first is the implementation of strict financial controls. By having the proper controls, production efficiency will be maximized. The second key will be the never ending pursuit for the industry's training, research and development. The third key is the recognition and implementation of the philosophy that 100% customer satisfaction is required to ensure a profitable business. Profits are a by product of satisfying customers.
Strength Weakness Opportunities and Threats (SWOT) Analysis
Large land mass
One of the noticeable weaknesses is the inability of the country to produce mechanized farming equipments. The latter are imported from abroad and this may add to the cost as the currency exchange rate is a bit unfavourable.
Enormous demand for all the proposed products, the availability of raw materials, availability of labor, availability of suitable climate, employment opportunity for the populace.
Foreign exchange instability which may affect the cost of farm equipments, Inappropriate agricultural policies that may restrain agricultural potential, Import tariffs that may put fertilizer out of producers’ reach thus leading to low yields.