THE ROLE OF AGROBASED INDUSTRIES IN POVERTY ALLEVIATION PROGRAMME

THE ROLE OF AGROBASED INDUSTRIES IN POVERTY ALLEVIATION PROGRAMME

CHAPTER   ONE

1.0                INTRODUCTION

Due to the economic situation of the country the writer decided to carryout a comprehensive study to find out those constraints that disrupts the economic situation and the possible solutions.

1.1     GENERAL BACKGROUND OF THE SUBJECT MATTER

It is obvious that there is no country that can survive without the existence of Agro-based industries.  This is owing to the fact that the Agro-based industries play a strategic role to economic growth and development, which come into existence in the country (Nigeria) 20th Century has played an important role in conjuncture with alleviation to satisfy the need of the masses.

The products of Agro-based industries are vital because of the role it plays in the domestic and foreign trade.  Domestically, the Agro-based industries satisfy the needs of the target audience.  Most companies depend to a large extend on the product of the Agro-based industries for it production for example, a company like the FAN which produces food, drinks such as chocolate, depend on cashew nuts for it product, also a company like Temp Mills Limited, which is one of the Agro-based industries producing Flour which are in turn used for the production of other products like bread cake etc.

In the foreign trade, the Agro-based industries have paled an important role in enhancing the balance of trade.  This is done through the exportation of Agro-based product to foreign land.

Its owing to this need that Phinomar industry Nigeria Limited was established in the year “1958” by the Phinomar Brothers.  This Phinomars Nigeria Limited engaged in pricing palm oil.

It consist an area of 400 hectares of land, which was divided into four (4) field and 100 plots with a total of 20,486 palm trees.  The palm tree plantation started bearing fruits in the year 1993 (that was five (5) years after they were planted).  Between 1993 and 1999, the nuts were shelled and peeked naturally so as to obtain oil.  The industry is fully owned by individual.

1.2                PROBLEM ASSOCIATED WITH THE  SUBJECT MATTER

The public out cry of law standards of living among many people in the society has become the concern of all patriotic individuals.  This is obviously due to the present condition of the poor ones who are suffering due to unemployment problem, lack of adequate agriculture practice low medical care, educational problem etc.  There conditions enable the individual to go into establishing the following programmes:

i.        Poverty Alleviation Programme

ii.       Family Economic Advancement

to solve the situation.

It’s necessary that a problem must be defined or identifies before its apparent solution.  Therefore my research works emphasis on the roles of Agro-based family economic advancement programme.

In the light of the above facts, the research has a lot to do with the following point.

i.        The vital role, which Phinomar Oil Industry as Agro-based industry play to Poverty Alleviation and Family Economic Advancement.

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THE ROLE OF AGRO-BASED INDUSTRIES IN POVERTY ALLEVIATION PROGRAMME