One of the major causes of inefficiencies in the agricultural industry in Nigeria is the inadequate supply of generated power. AFROWOOD aim to generate 1 megawatt of power for each settlement, this would give farmers an unprecedented advantage.
With constant supply of power, production can be at its optimal level, secondly, no longer will farmers bear the cost of generators as well as the cost of lack of production due to power shortages. By removing such costs, unit cost of production will significantly drop, which means farmers can afford to reduce the prices of products. Which will benefit the customers.
Having industrial units will be very beneficial to the sustainability of the farm settlement. Industrial units are useful for:
- Fostering technological learning and innovation,
- Creating jobs,
- Generating comparative and competitive advantages,
- Attracting innovative businesses, leading to both more jobs and a larger tax base,
- Providing a platform where local and international firms can interact with a particular centre of knowledge creation for mutual benefit.
- Provisions of institutional framework, modern Services and a physical infrastructure that may not be available in the rest of the country.
- Reducing costs through economies of scale in the provision of common services and facilities.
Buyers, producers, and suppliers who can operate in the same location, thus cutting the transaction costs of economic learning while establishing new standards and norms of entrepreneurial behavior
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