How To Become A Millionaire And Employer Of Labour Through This Business In Nigeria Or Africa

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The palm oil business in Africa has many opportunities. This company is versatile and every facet makes many people rich and creates jobs for thousands of people. However, not too many people are involved in this business.

There are many products that can be obtained directly or indirectly from oil palms. Products based on palm oil and palm grains make up nearly half of the store’s shelf products, including food and non-food items. Oil palm products have many applications that include the following:

Palm oil is used in the production of food and snacks.

Cosmetics used palm products to make cosmetics, especially palm oil.

Oil palm products are a source of biofuel.

The palm kernel can be used as animal feed.

Oil palm products also have pharmaceutical and industrial applications.

Business opportunities in the oil palm industry in Africa

The business opportunities you can explore in oil are:

1. The erection of an oil palm plantation and the sale of palm fruits to oil processing plants.

2. Management of a palm oil processing plant.

Acquisition of oil palm products from oil processing plants and resale to retailers.

4. Buy palm oil from wholesalers and sell it to consumers.

You can participate in any aspect of the above business chain and make money and create even more jobs for people.

1. Set up an oil palm plantation

It is a very profitable business. If you have good management, you will have multimillion-dollar overtime to have an oil palm plantation and create jobs for people.

To manage this business effectively requires a large area of ​​land. Most African countries are blessed with arable land and climate suitable for oil palm growth. Depending on the funds available, one or more acres can be good.

There is a lot of arable land in Africa that is in fallow land. In Nigeria, for example, there are a large number of countries in the southwest and southeast that are suitable for oil palm farming. No need to buy this land. There is a lot of government land available for rent to farmers at a very low price that can be renewed annually. You can use this land for as long as you like, which you can cultivate on the land and renew your lease.

Visit any office of the Electricity Development Authority, RBDA in your state or region or the liaison offices of the Federal Ministry of Water Resources and Rural Development.

The type of soil and climatic conditions suitable for the cultivation of oil palm must be characterized by:

Moist soil rich in humus with a pH of 4.5 to 6.

Humid, tropical or subtropical climate.

It rains a lot.

Sunny sun.

An overall ambient temperature of about 25 to 28 degrees Celsius.

The African climate supports the cultivation of oil palm. The oil palm, for example, thrives in southern Nigeria due to the climatic conditions in the region.

The ingredients in an oil palm contain the following:

The Exocarpe: the outer layer of the palm.

The pulp or mesocarp or flesh: the yellow part that has been crushed to produce oil.

The seed or endocarp - consists of the shell or stone and seeds. The nuclei are in the shell.

Seeds or endosperms - usually inside the shell of a seed. When the grain is crushed, it produces nape oil.

There are three types of palm trees:

Hard - has cores with a thick shell

Pisifera: has seeds without shell

Beef - has seeds with a thin shell

The tender palm, which has a lot of pulp, a thin shell and large grains when grown, has better results for the production of palm oil. It is a hybrid produced from the crossbreeding of the dura and pisifera varieties. The high yield of the tender variety makes it the most popular variety among oil farmers.

The biggest challenge for this business is that you will have to wait about four years for the oil palm trees to start bearing fruit before you can return the investment. However, if you’re determined, you won’t be deterred, as once the oil palms grow to maturity, it can take decades.

Oil palm cultivation process

The germinated oil palm seeds are planted in the nursery and after about 3 months in the nursery they are transferred to the main nurseries. The seedlings are grown in the main nurseries for about 6 months. If planted seedlings properly, they are planted in the main oil palm plantation.

After preparing land such as clearing and plowing, now is the time to transplant the seedlings to the main plantation.

Seedlings of the main nurseries of about 12 to 14 months, 1 meter in height and approximately 12 to 13 functional leaves are planted for cultivation in the main plantation. Triangular planting systems with a distance of 9 x 9 x 9 m are recommended, which accommodate approximately 143 palm oil plants per hectare. It is the optimum density of plants for oil palms that provides the maximum production per unit area.

Apply the right amount and quality of fertilizer and you can also water to grow the crop.

When seedlings are planted, it takes about 3 to 4 years to grow to maturity before they begin to produce palm fruit. When you start harvesting your products, you can have your own oil processing plant or sell the products to the oil processing plant for processing into palm oil.

2. Management of a palm oil processing plant

It is another viable business within the oil palm business chain. This business is neglected for the elderly in rural Africa, while many young and viable people migrate to urban areas in search of necklace works that are almost unavailable.

In rural areas where several palm oil processing plants are located, the plants are raw and use traditional processing methods that do not allow faster and less stressful processing of the product. You can set up your own palm oil processing plant, buy or rent an existing one.

There are several modern machines you can use to process palm oil more quickly, hygienically and easily. You can buy the palm oil extraction machine made locally in Nigeria or buy the foreign type.

Some of the machines needed to process palm oil include:

Palm oil screw press machine

Fire separator

boiler

The processes involved in the processing of palm oil:

Source: Food and Agricultural Organization

It’s best to find your palm oil processing plant near the source of the oil palm fruit to reduce transportation cost.

One of the major challenges facing the palm oil processing industry is the capital intensive nature of the business. However, this challenge is overcome. Take a look at my article on how to get start-up capital for your business.

Acquisition of oil palm products from oil processing plants and resale to retailers.

As a palm oil trader, you buy processed palm oil directly in large quantities (drums and barrels) from processing plants, usually at a low price during the harvest season, which is usually around February to April, and sell it for profit. . retailers.

In addition to reselling to retailers, you get more profit if you store the product in your store and then resell it when the product is out of season from September to January.

The biggest challenge for the business is to have a large bulk oil storage facility.

4. Buy palm oil from wholesalers and sell it to consumers.

It is about buying palm oil in small quantities from wholesalers and selling it directly to consumers. This type of palm oil business is common in our local markets and supermarkets and grocery stores.

I would recommend that you pay more attention to the palm oil business options above 1 to 3, as it has the potential to generate more revenue and create more jobs.

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