Officials from the Federal Ministry of Agriculture and Rural Development, states, agencies and non-governmental organisations on Thursday said Nigeria was spending about $500m annually on oil palm imports.

At the National Workshop on oil palm organised in Abuja by Solidaridad, an international NGO, senior government officials and other stakeholders agreed to partner to reduce the continued import of the commodity.

Speaking on the sidelines of the workshop, the Deputy Director, Federal Department of Agriculture, FMARD, Bernard Okata, said, “The partnership is to move the oil palm sector forward.

“Our current local requirement for oil generally is about three million metric tonnes but we are producing about 1.02 metric tonnes of oil palm.

“So there is a gap. We import to make up for this gap and Nigeria is spending about $500m annually for this importation up till now.”

Okata explained that the volume of oil and fat that Nigeria requires was about three million metric tonnes, but it had been difficult to meet this demand.


He said, “We have oils from groundout, soybean and all that. But from oil palm alone, we are producing 1.02 million MT, while from other oils we produce 1.7 million MT and so the shortfall is about 350,000MT.

“So the significance of this partnership is to ensure that the foreign exchange is channelled to the development of other activities if we can expand our oil palm production to satisfy our local industries.

On his part, the Senior Climate Specialist for Africa at Solidaridad, who doubles as Country Technical Lead, Nigeria, Sam Ogala, stated that Nigeria was not meeting its domestic demand for oil palm.

“This country is spending around $500m annually to import oil palm. That shows you the huge gap and it’s because we are not meeting local demand,” he said. He added, “In the early 1960s before the oil boom, Nigeria was exporting oil palm, but after that oil boom, we started importing and all forms of oil palm are finding their way to the Nigerian market.”

Source:
https://m.punchng.com/Business/Nigeria-spends-$500m-annually-importing-palm-oil-says-FG

Nigeria is totally a clueless country... because we have APC with block heads leading us...

If we leave APC IN POWER... I DOUBT IF THERE'LL BE ANYTHING LEFT, FOR US

Palm oil, we make in our BACKYARD

Big lie.... Big lie. APC own na just to dey lie up and down. We can't even finish the red oil produced in this country not to talk of importing.

$500 million for palm oil? which kind of lie be this?

Abeg dis one na heavy lie... In fact dis lie is a lie...

despite all the palm oil in the east

Facidio:
Big lie.... Big lie. APC own na just to dey lie up and down. We can't even finish the red oil produced in this country not to talk of importing.

For over 15 years Nigeria has been importing palm oil no b lie bro

Facidio:
Big lie.... Big lie. APC own na just to dey lie up and down. We can't even finish the red oil produced in this country not to talk of importing.

the demand is higher than what we can produce. If you are not in the business you will never understand.

MajesticKris:
If we leave APC IN POWER... I DOUBT IF THERE'LL BE ANYTHING LEFT, FOR US

Palm oil, we make in our BACKYARD

it is one thing to make it, its another thing to make the quantity that will be enough!!!