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The demand for teak wood is ever increasing and has a return on Investment of about 100% with low risks. Teak wood (Tectona grandis) is a huge, tropical tree and yields excellent quality wood, making it one of the most well-known timbers in the world. It grows at a height of about 40ft with girth of about 45 inches. Its timber qualities include attractive colour, durability, lightness with strength, ease of working and carving, resistance to diseases. It has very high oil content and tensile strength, that makes it weather resistance, thus, making it best fit for use in the manufacture of outdoor furniture like, boats and decks, cutting boards, indoor flooring, countertops and so on. These characteristics, makes Teak wood in very high demand both locally and at the international markets. In addition, Teak plant doesn’t require any external irrigation system as the rain volume in Nigeria is very sufficient to see it through its growth period. Further research is also being carried out as to the use of its leaves for medicinal and ornamental purposes.
In Nigeria, it can be found in tropical forests in states such as Ogun, Edo, and Osun where rainfall is particularly normal. The IITA (International Institute of Tropical Agriculture) will be actively involved in the development phase of this project.