In
Nigeria, agriculture has remained the largest sector of the economy. It generates employment for about 70% of
Nigeria’s population and contributes about 40% to the Gross Domestic Product
(GDP) with crops accounting for 80%, livestock 13%, forestry 3% and fishery 4%.
It
plays significant roles in the nation’s economic development. These roles include: contribution to the
country’s gross domestic product; source of income and decent living for a large
proportion of the population; provision of adequate food for the people; supply
of raw materials required by the industrial sector; generation of foreign
exchange through export; provision of employment opportunities for the teeming
population.
Nigeria
has a land area of 98.3m hectares. At present about 34m hectares or 48% are
under cultivation. Under the (1999) Constitution, responsibility for
agricultural and rural development is shared among the federal, state and local
governments. There is no doubt that considering the vast area of uncultivated
land coupled with the natural fertility of its soil, Nigeria has great
agricultural potentials.
In
like manner, Nigeria has great potentials for fertilizer consumption and
use. A study conducted by the
Agricultural Projects Monitoring and Evaluation Unit (APMEU) in 1990 put the
agronomic potential at 7 million metric tons.
With increased release of higher yielding and fertilizer consuming crop
varieties, this potential is now much higher than the 7 million metrics
tons.
Fertilizer
consumption (kilograms per hectare of arable land) in Nigeria was 2.12 as of
2009. Its highest value over the past 7 years was 9.98 in 2006, while its
lowest value was 2.12 in 2009.
Nigeria
also has great potential to produce substantial quantities of its fertilizer
requirements. The abundant natural gas
most of which is now being flared can be harnessed to produce large quantities
of nitrogenous fertilizers. Commercial
quantities of rock phosphate deposits abound in Sokoto, Niger, Kwara, Oyo, Ogun
axis that can be used for the production of phosphate fertilizers. The only raw material that is not yet found
in substantial qualities in Nigeria is the potassium deposits. Even this can be sourced from our North
African neighbors.
Due
to the lack of local production most of the fertilizer used in Nigeria now is
imported. It is important to note that over 80% of all the fertilizer consumed
in the country is imported. The consequences of relying on imported fertilizer
include drain on foreign reserve, insufficient supply due to high capital
requirements for importation and consequent high retail prices for the farmers,
which renders the input unaffordable.
These
developments and actions which to a large extent were uncoordinated have caused
the quantities of fertilizers available to farmers to remain abysmally low and
very expensive.
This feasibility report seeks to examine the financial
viability or otherwise of establishing an inorganic NPK fertilizer plant in
Nigeria capable of producing different blends of fertilizers. The major raw
materials for this project include - Urea, diammonium phosphate, muriate potash
and calcium carbonate.
The
proposed plant would comprise of Chain crusher, Elevator, Feed, Product and
Retention Hoopers, Weigh Belt Feeders with PLC Control, Feed Belt to Mixer,
Pneumatic Control Valves, Auto Packer, Rotary Mixer, weigh bridge and weighing
machine, Slat conveyor with stitching machine, Hand Stitching Machine and
stacking forklift with wooden pallets, Tools and Tackles, Project vehicles,
official car, Generator, payloader and Dust Collection system, Electrical panel
board, remote controlled push buttons unit, capacitor bank, foundation bolts,
essential requirement for one year and electrical items.
Report Details:
Report Type: Pre- Feasibility Report
Formats of Delivery: PDF / MS WORD
No. of Pages: 48 Pages ( Text Part) / 6 Pages (Financial Part)
Publisher: Foraminifera Market Research
Release Date: 30/08/2015
Language: English
Delivery time: 24– 48hours
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 Critical Success Factor of the Business
1.5 Current Status of Business
1.6 Description of the Business Industry
1.7 Contribution to Local and National Economy
2. Marketing Plan
2.1 Description of product
2.2 Product Packaging and delivery
2.3 The Opportunity
2.4 Pricing Strategy
2.5 Target Market
2.6 Distribution and Delivery Strategy
2.7 Promotional Strategy
2.8 Competition
3. Production Plan
3.1 Description of the Location
3.2 Raw Materials
3.3 Production Equipment
3.4 Production Process
3.5 Production Cost
3.6 Stock Control Process
3.7 Pre-Operating activities and expenses
3.7.1 Operating Activities and Expenses
3.8 Project Implementation Schedule
4.0 Organizational and Management Plan
4.1 Ownership of the business
4.2 Profile of the promoters
4.3 Key Management Staff
4.3.2 Management Support Units
4.4 Details of salary schedule
5. Financial Plan
5.1 Financial Assumption
5.2 Start up Capital Estimation
5.3 Source of Capital
5.4 Security of Loan
5.5 Loan Repayment Plan
5.6 Profit and Loss Account
5.7 Cash Flow Analysis
5.7 Viability Analysis
6.0 Business Risk and mitigation factor
6.1 Business Risks
6.2 SWOT Analysis
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