That Nigeria has a comparative advantage in the Agricultural sector is not in doubt but harnessing and developing these potentials has been the challenge. Of the less than 40% Agriculture contributes to the Gross Domestic Product {GDP} of the economy, forestry accounts for 3% only whereas out of the total landmass 92.4 million hectares of the country, 31.3 million hectares is covered by forest having over 490 tress whereas only about 100 are utilized.
The southern rainforest and southern middle belt areas of the country provides avenues for the provision of logs exploited on regulation by the various state Governments with checks on deforestation and afforestation programmes.
There are different kinds of wood available in Nigeria, irrespective of their location and usage. They include: Apa, Black,Afara, White Afara, Afromosia, Gmelina, Idigbo, Canarium, Okan, Antiaria, Lagos Mahogany, Berlinia, Ekki, Scented Guarea, Dry zone Mahogany, Camwood, Pterygote, Albizia, Alstonia, Makore, White sterculia, Owewe,Dist, Okwen, Obeche, Opepe, African Walnut, Mansonia, Teak, Ebony, Guarea, Iroko, Abura, Ogea, Pterocarpus, Erimado, Agba, Akpu, Danta, Celtis, walnut, etc.
Some of the states in Nigeria were woods can gotten include Ogun, Ondo, Osun, Ekiti, Edo, Cross River, Awka Ibom, Delata, Benue etc
One of such wood that can be found in Nigeria is Eki.
Export of a variety of processed hardwood products presents a very good opportunity for savvy investors desirous of earning good returns on investment.
Out of the 92.4 million hectare of land area, forest covers 31.3 million hectares. Out of about 490 utilizable tree species in the Nigerian forest, only about 100 are currently utilized.
Export market for processed wood is very vast and wide. Wood products are used in every facet of human life which includes homes, offices, industries, schools, farms, paper production, construction, furniture etc.
European countries import on the average about four million {4,000,000} cubic metres of hardwood products annually from tropical regions of the world.
The return on investment on the export of processed wood is estimated between 20%- 30% per container.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for beginners and exporters already in the commodity export market.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
You can order our detailed feasibility report on exporting processed wood { Teak, Eki and Gmelina} in Nigeria by clicking on the link below.
Report Title: PROCESSED WOOD EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/010/2013/0600
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