How to Establish and Run a Yam Plantation in Nigeria (100 Hectares); The Feasibility Report.

Nigerian agriculture is characterized by considerable regional and crop diversity. Analysis of this sector, particularly the food sub-sector, is fraught with serious data problems. However, the available statistics provide a broad overview of development in agriculture upon which we can make some broad generalizations about its role in economic development and structural change in Nigeria.

In the 1960s, the agricultural sector was the most important in terms of contributions to domestic production, employment and foreign exchange earnings. The situation remained almost the same three decades later with the exception that it is no longer the principal foreign exchange earner, a role now being played by oil.

The sector remained stagnant during the oil boom decade of the 1970s, and this accounted largely for the declining share of its contributions. The trend in the share of agriculture in the GDP shows a substantial variation and long-term decline from 60% in the early 1960s through 48.8% in the 1970s and 22.2% in the 1980s. Unstable and often inappropriate economic policies (of pricing, trade and exchange rate), the relative neglect of the sector and the negative impact of oil boom were also important factors responsible for the decline in its contributions.

On its diversity, Nigerian agriculture features tree and food crops, forestry, livestock and fisheries. In 1993 at 1984 constant factor cost, crops (the major source of food) accounted for about 30% of the Gross Domestic Products (GDP), livestock about 5%, forestry and wildlife about 1.3% and fisheries accounted 1.2%.

Nigeria is by far the world’s largest producer of yams, accounting for over 70–76 percent of the world production. According to the Food and Agricultural Organization report, in 1985, Nigeria produced 18.3 million tonnes of yam from 1.5 million hectares, representing 73.8 percent of total yam production in Africa.

According to 2008 figures, yam production in Nigeria has nearly doubled since 1985, with Nigeria producing 35.017 million metric tonnes with value equivalent of US$5.654 billion. In perspective, the world’s second and third largest producers of yams, Côte d’Ivoire and Ghana, only produced 6.9 and 4.8 tonnes of yams in 2008 respectively. According to the International Institute of Tropical Agriculture, Nigeria accounted for about 70 percent of the world production amounting to 17 million tonnes from land area 2,837,000 hectares under yam cultivation.

Yam, a tropical crop in the genus Dioscorea, has as many as 600 species out of which six are economically important staple species. These are: Dioscorea rotundata (white guinea yam), Dioscorea alata (yellow yam), Dioscorea bulbifera (aerial yam), Dioscorea esculant (Chinese yam) and Dioscorea dumetorum (trifoliate yam). Out of these, Dioscorea rotundata (white yam) and Dioscorea alata (water yam) are the most common species in Nigeria. Yams are grown in the coastal region in rain forests, wood savanna and southern savanna habitats.

Yam is grown on free draining, sandy and fertile soil, after clearing the first fallow. Land is prepared in the form of mound or ridge or heap of 1 metre (3 ft 3 in) height. The yams recommended for such soil conditions in Nigeria are white yam or white guinea yam (Discorea rotundata) and water yam or yellow yam (Discorea alata). Planting is done by seed yam or cut setts from ware tubers.

Due to the large demand for yam in Nigeria, this report seeks to examine the financial viability or otherwise of establishing a yam plantation in Nigeria.

The size and locations of the farms is one hundred and ten (110) hectares of land located in Ogun State. One hundred (100) hectares would be used for the farm while the remaining ten (10) hectares would be used for the construction of the office, warehouse and other civil works.

Table of Contents

EXECUTIVE SUMMARY 1.0 Business Overview 1.1 Description of the Business 1.2 Vision and Mission Statement 1.3 Business Objective 1.4 Value Proposition 1.5 Critical Success Factor of the Business 1.6 Current Status of Business 1.7 Description of the Business Industry 1.8 Contribution to Local and National Economy 2.0 Agricultural Practice 2.1 Collection and Preparation of Minisett 2.2 Planting 2.3 Stalking 2.4 Manures and Fertilizers 2.5 Weeding 2.6 Climate / Irrigation 2.7 Harvesting and Yield 2.8 Soil Type 2.9 Diseases and Pests 3. Marketing Plan 3.1 Description of product 3.2 Product delivery 3.3 The Opportunity 3.4 Pricing Strategy 3.5 Target Market 3.6 Distribution and Delivery Strategy 3.7 Promotional Strategy 4. Cultivation / Production Plan 4.1 Description of the Location 4.2 Raw Materials 4.3 Cultivation / Production Equipment 4.4 Cultivation / Production Process 4.5 Production Cost 4.6 Stock Control Process 4.7 Pre-Operating activities and expenses 4.7.1 Operating Activities and Expenses 4.8 Project Implementation Schedule 5.0 Organizational and Management Plan 5.1 Ownership of the business 5.2 Profile of the promoters 5.3 Key Management Staff 5.3.2 Management Support Units 5.4 Details of salary schedule 6. Financial Plan 6.1 Financial Assumption 6.2 Start – up Capital Estimation 6.3 Source of Capital 6.4 Security of Loan 6.5 Loan Repayment Plan 6.6 Profit and Loss Analysis 6.7 Cash flow Analysis 6.8 Viability Analysis 7.0 Business Risk and mitigation factor 7.1 Business Risks 7.2 SWOT Analysis

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