Palm Oil Business Plan

Palm Oil Business Plan

According to World Bank estimates, the population of Nigeria is 206million. The size GDP of the Nigerian economy is N18.3trillion. The Nigerian economy can be split into two parts: Oil Sector and Non-Oil Sector. Agriculture in Nigeria belongs to the Non-oil sector along with other industries like Information & Communication, Accommodation and Food Services, Arts entertainment and recreation, Finance and Insurance, Professional scientific and technical services, Education and Other Services.

Agriculture in Nigeria is made up of four sub-activities: Crop Production, Livestock, Forestry and Fishing. While the Nigerian economy is heavily dependent on oil, agriculture still contributes a significant amount to Nigeria’s economy. The National Bureau of Statistics estimates that 25% of the GDP of the Nigerian economy is composed of the agriculture sector (a total value of N4.575 trillion) and 70% of Nigeria’s labour force is employed in the agricultural sector. Nigeria’s economic growth over the last five years has been driven by growth in agriculture, telecommunications, and services.

Palm oil farming is highly thriving in countries in the African continent and some parts of Asia. Nigeria is one of the countries in Africa that has loads of players in the palm oil industry. Although locals in rural communities run this type of business on a small scale, there are medium scale to big-time investors who also operate standard palm oil businesses.

These are the organizations that own palm tree plantations and also engage in the exportation of well-packaged palm oil to countries across the world. In most cases, they ensure that they target countries with robust Nigeria cum African communities.

Palm oil is considered to be one of the healthy and vitamin packaged oils that is highly suitable for cooking. In Nigeria, palm oil is used for several delicacies and even for frying. There is no tribe in Nigeria and even on the West African coast that doesn’t make use of palm oil or red oil as it is popularly called in most quarters in Africa. Palm oil is also used in soap making and body cream.

The palm oil line of business is indeed a thriving line of business and pretty much active in Africa, Asia and South America (places with good numbers of African communities) they generate several millions of US dollars annually from several registered and unregistered small–scale, medium scale and big palm oil processing business scattered all around Africa, Asia and South America. This line of business is responsible for the employment loads of people directly and indirectly all around the world.

Over and above, the palm oil industry is a profitable business venture and it is open for any aspiring entrepreneur to come in and establish his or her business; players typically operate a small-scale palm oil business by either running a small farm or small processing company and purchase palm kernels from farmers and supplying oils to local traders.

                                                                Table of Contents

I.         Introduction

1.0     Executive Summary

1.1     Company Benefits

1.2     Business Objectives

1.3     Vision

1.4     Mission

1.5     Keys to Success

2.0     Company Summary

2.1     Company Ownership

2.2     Location and facilities

2.3     Start-Up Summary

Table: Start-up Funding

3.0     Company Product Description

3.1     Product Description

3.2     Product Uniqueness

3.3     Future Products

4.0     Market Analysis

4.0.1  Market Summary

4.0.2  Market Trend

4.0.3  Marketing Plan

4.1      Target Market

4.2     Industry Analysis

4.3     Challenges Facing the QSR Business

4.4     SWOT Analysis

4.4.1   Strengths

4.4.2   Weakness

4.4.3   Opportunities

4.4.4   Threats

4.5      External Environmental Analysis

4.6     Marketing Strategy

4.7     Publicity and Advertising Strategy

4.8     Sales Forecast

4.9     Sustainability and Expansion Strategy

5.0     Strategy and Implementation Summary

5.1     Competitive Edge

5.2     Competitive Comparison

5.2.1   Main Competitors

6.0     Management Summary

6.1     Management Team

6.2     Personnel Plan

Table: Payroll Year 1

Table: Payroll Year 1-3

7.0      Financial Plan

7.1     Breakeven Analysis

7.2     Projected Profit and Loss

7.3     Projected Cash Flow

7.4     Projected Balance Sheet


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Resources, A. (2024). Palm Oil Business Plan. Afribary. Retrieved from

MLA 8th

Resources, Africana "Palm Oil Business Plan" Afribary. Afribary, 25 Mar. 2024, Accessed 22 Jun. 2024.


Resources, Africana . "Palm Oil Business Plan". Afribary, Afribary, 25 Mar. 2024. Web. 22 Jun. 2024. < >.


Resources, Africana . "Palm Oil Business Plan" Afribary (2024). Accessed June 22, 2024.