The study examines the feasibility of producing charcoal from wood wastes. The technical study was highlighted and the financial viability was analyzed. The socio-economic and marketing studies were pointed out. In this attempt, primary data were collected from logging operators and helpers, the charcoal vendors, and the suppliers of construction materials in Ife Central and Ife South local governments of Osun State using unstructured personal interview. The technical data were collected from documented records. The financial analysis was done through the use of cost-benefit ratio and production cost analysis. The data were projected for 5 years using the arithmetical straight line method. The results show that the fabricated masonry block kiln could yield a profitability efficiency of 31% in the first year of operation and 37.2% in the fifth year. The cost benefit ratios of 1.44 (1st year), 1.59 (3rd year), and 1.60 (5th year) positively indicate the profitability of the industry. The results therefore suggest that utilization of wood residuals is a strategy in harnessing rural resources and it would also considerably boost the profitability of rural resources.