You'll need to be at least 50k PL to complete this (and punctuation), and I suggest doing it as soon as you can.
Head to the namek elder, all east and up from Mephablo, and SAY WHAT QUEST? then SAY I'D LIKE TO TAKE ON THIS QUEST
EXAM SAPPHIRE, EXAM SCUFF, find the Elder of Wisdom in one of the huts below the Elder, and SAY KOUSENGAN
Return to the Elder with the Head then you'll get A Dull Ruby, visit the Elder of Strength in the hut below, then head west to the blacksmith.
GIVE RUBY BLACKSMITH, head just to the east and go to the Overseer, SAY KOUJARI SENT ME. Return to the blacksmith and GIVE ORDERS BLACKSMITH. You'll get a beautiful ruby and head back to the Elder of Strength.
Return to the elder with the Body and you'll get a book. Take the book to the Elder of courage. GIVE BOOK ELDER. Then head west back to the same overseer you saw for the blacksmith. SAY MOSHEEGA SENT ME. (with a period)
Head back west to where Mephablo is, and then head north and kill nameks in each of the fields to the east and west until you get one of each seed. You'll need 5 seeds total. Walk back to the overseer who gave you the task and you'll get a vial.
Walk back to the elder, BUT DO NOT leave the room too quickly or you won't get the item. Once you have the arms go back to the elder.
Go to the empty elder hut and wait in this room until the final elder pays you a visit. You'll get the final piece which is the base. Return back up to the elder and get your Dragon Statue!
The The Eternal Dragon Statue is your prize.