₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,327,107 members, 8,429,389 topics. Date: Thursday, 18 June 2026 at 07:38 PM

Toggle theme

CBN Eyes $10b Revenue From Palm Oil - Business (2) - Nairaland

Nairaland ForumNairaland GeneralBusinessCBN Eyes $10b Revenue From Palm Oil (9726 Views)

1 2 Reply (Go Down)

Re: CBN Eyes $10b Revenue From Palm Oil by Dami12345: 6:35am On Mar 19, 2019
datopaper:
Nigeria is a country full of Honey but our people are suffering.

You heard this type of NEWS, your mind would be at rest that at least if not you somebody very close to you may benefit.

But

It is not always so. Before you know it the money disappeared.


Nigeria I hail!

My country is great
Na the problems be this.
Jisy like the 16bilion dollars spent on light and the tens of billions on the steel mill. Its all good on paper. But then the money always disappears.
Re: CBN Eyes $10b Revenue From Palm Oil by Nobody: 6:38am On Mar 19, 2019
Niorte:
Nice move. But our government officials need to understand that agricultural economy is not based on farming activities only. Most times, they focus more on farmers which is just one of the actors in agricultural value chains. Other actors such as plant scientists, food technologists, marketers, distributors, reseacher, transporters etc are left to be on their own.

Agriculture can only be profitable when all actors of the value chains are involved.

Like a distinguished professor once said, Nigeria problem is not production but processing and preservation.

We are the largest producer of Yam, what are we doing with yam?

We are the largest producer of cassava, what are we doing with cassava? Only garri and fufu MAINLY.

WE are the 13th largest producer of tomatoes in the world, what are we doing with tomatoes? Mainky to make soup.

Meanwhile, we could start production of ketchup, tomato puree, tomato paste and even tomato juice.

IT IS TIME TO FOCUS ON ALL ACTORS IN THE AGRICULTURAL VALUE CHAINS AND NOT JUST THE FARMERS.
Very intelligent post.
Re: CBN Eyes $10b Revenue From Palm Oil by BlastAfonja: 6:42am On Mar 19, 2019
post=76782327:
[s]Never in our nation are we going to allow criminals and thieves to rule us again.
We are ready to start all over again to a New Nigeria with our darling President.
A good foundation is being built.
Another good initiative.
God bless our President MUHAMMADU BUHARI and his amiable Vice president Prof Yemi OSIBANJO.
God bless Nigeria.[/s]
The people you mentioned are the real criminals, use your sense..
Re: CBN Eyes $10b Revenue From Palm Oil by BlastAfonja: 6:45am On Mar 19, 2019
mamaafrik:
when you start moving from ogun to ondo,edo , imo to ebonyi state you will know we can,we need to improve to a more yield per fruit specie .
Imo, Edo, Anambra, AkwaIbom, Crossriver, Ebonyi.
Re: CBN Eyes $10b Revenue From Palm Oil by BlastAfonja: 6:49am On Mar 19, 2019
AlwaysUltraPad:
sad

Our problem as a nation: first, we have it, then we throw it away at others to pick it up...then we go back to those who picked up to buy it from them and we return again to start looking for a way to start producing it again.


Indonesia and Malaysia who got the seedlings from us are the biggest producers of this product today. In fact, I heard they're in tussle with European union over its decision to ban its use in Europe cos the EU feels Palm oil production encourages deforestation. We just woke up again and we want to start again . Just when one of the markets is frowning at its production.


God won't forgive pdp.
APC 'the Yoruba' party is more evil than PDP. We are not blind we can see.
Re: CBN Eyes $10b Revenue From Palm Oil by RTSC: 7:02am On Mar 19, 2019
AlwaysUltraPad:
sad

Our problem as a nation: first, we have it, then we throw it away at others to pick it up...then we go back to those who picked up to buy it from them and we return again to start looking for a way to start producing it again.


Indonesia and Malaysia who got the seedlings from us are the biggest producers of this product today. In fact, I heard they're in tussle with European union over its decision to ban its use in Europe cos the EU feels Palm oil production encourages deforestation. We just woke up again and we want to start again . Just when one of the markets is frowning at its production.


God won't forgive pdp.
Nigeria's palm oil production diminished when we discovered crude oil.

That was long before pdp came.

Try knowing your history before blaming pdp.
Re: CBN Eyes $10b Revenue From Palm Oil by AlwaysUltraPad: 7:04am On Mar 19, 2019
RTSC:
Nigeria's palm oil production diminished when we discovered crude oil.

That was long before pdp came.

Try knowing your history before blaming pdp.
what did they do about it in their 16 years?
Re: CBN Eyes $10b Revenue From Palm Oil by jconsulting(f): 7:12am On Mar 19, 2019
You can see why they will not want restructuring,SE,SS SW will produce palm oil and the procedes to develop the North......Or which State is producing oil palm in the North
Re: CBN Eyes $10b Revenue From Palm Oil by urahara(m): 7:14am On Mar 19, 2019
RTSC:
Nigeria's palm oil production diminished when we discovered crude oil.

That was long before pdp came.

Try knowing your history before blaming pdp.
No , it dimished when we had the oil boom. Those are two different things
Re: CBN Eyes $10b Revenue From Palm Oil by IamaNigerianGuy(m): 7:23am On Mar 19, 2019
AlwaysUltraPad:
sad

Our problem as a nation: first, we have it, then we throw it away at others to pick it up...then we go back to those who picked up to buy it from them and we return again to start looking for a way to start producing it again.


Indonesia and Malaysia who got the seedlings from us are the biggest producers of this product today. In fact, I heard they're in tussle with European union over its decision to ban its use in Europe cos the EU feels Palm oil production encourages deforestation. We just woke up again and we want to start again . Just when one of the markets is frowning at its production.


God won't forgive pdp.
I came to point out the same thing. The future if palm oil is uncertain.
Re: CBN Eyes $10b Revenue From Palm Oil by deolumike(m): 7:27am On Mar 19, 2019
AlwaysUltraPad:
sad

Our problem as a nation: first, we have it, then we throw it away at others to pick it up...then we go back to those who picked up to buy it from them and we return again to start looking for a way to start producing it again.


Indonesia and Malaysia who got the seedlings from us are the biggest producers of this product today. In fact, I heard they're in tussle with European union over its decision to ban its use in Europe cos the EU feels Palm oil production encourages deforestation. We just woke up again and we want to start again . Just when one of the markets is frowning at its production.


God won't forgive pdp.
They really wasted opportunities because of their greedy and lootocratic government over the years. May PDP perish
Re: CBN Eyes $10b Revenue From Palm Oil by AlwaysUltraPad: 7:28am On Mar 19, 2019
IamaNigerianGuy:
I came to point out the same thing. The future if palm oil is uncertain.
that's the irony of it all. When it's lucrative, we run away, when its future is uncertain, we invest there. We go to where people are running from.
Re: CBN Eyes $10b Revenue From Palm Oil by wolebest: 7:29am On Mar 19, 2019
Opportunities in palm oil production is coming just as it was done for rice farmers. I hope you all know palm oil is more expensive than crude oil. All-aboard the train is about leaving.
Re: CBN Eyes $10b Revenue From Palm Oil by NwaforIgbo: 7:44am On Mar 19, 2019
Ikpeazu has already distributed 2 million tenera palm. In Abia State to support the vision before CBN conceived it. Ikpeazu is truly a visionary leader.
Re: CBN Eyes $10b Revenue From Palm Oil by grandstar(m): 7:54am On Mar 19, 2019
Here we go again.

Why palm oil? Because we had comparative advantage in Palm oil 50 years ago does not mean we have it today!

Comparative advantage can be lost. Textiles and garments production flourish in third world countries because it's a labour intensive industry and since labour is cheap in poor controls, it's very ideal.

But as wages begin to rise, manufacturers begin to move out and seek cheaper climes. Japan, South Korea and Hong Kong were once big in textiles but no longer. They lost their comparative advantage in it.

Nigerian farmers seem to be turning their noses away from palm oil and focusing on their attention on other crops such as cashew, sesame seed, Shea butter etc.

It has been estimated that shea butter alone can yield up to $2b yearly for Nigeria.

Cultivating palm oil involves lots of deforestation. Indonesia has lost large acreages of land to oil palm plantations on Sumatra and on many other islands.

The State is poor at picking winners. The market should be left to decide and when it's makes that decision, the government should put it's weight behind it.
Re: CBN Eyes $10b Revenue From Palm Oil by AlwaysUltraPad: 8:02am On Mar 19, 2019
deolumike:
They really wasted opportunities because of their greedy and lootocratic government over the years. May PDP perish
pdp does not deserve our mercy.
Re: CBN Eyes $10b Revenue From Palm Oil by mamaafrik(m): 8:13am On Mar 19, 2019
BlastAfonja:
Imo, Edo, Anambra, AkwaIbom, Crossriver, Ebonyi.
why quote me to display your frustration??,na me be your village folks.macharayan make amadioha no Fire your bolokos
Re: CBN Eyes $10b Revenue From Palm Oil by Tyche(m): 8:55am On Mar 19, 2019
chiedu7:
lets know who is producing the palm oil.

I am willing to bet it's the most productive Zones again.
If you have nothing constructive to say, just get out of the thread.
Re: CBN Eyes $10b Revenue From Palm Oil by baratech: 9:06am On Mar 19, 2019
Good development
Re: CBN Eyes $10b Revenue From Palm Oil by OmoManU: 9:27am On Mar 19, 2019
datopaper:
Nigeria is a country full of Honey but our people are suffering.

You heard this type of NEWS, your mind would be at rest that at least if not you somebody very close to you may benefit.

But

It is not always so. Before you know it the money disappeared.


Nigeria I hail!

My country is great
Many things just wrong with the shit hole, na u understand as e dey go for this country, everything na wu know
Re: CBN Eyes $10b Revenue From Palm Oil by urahara(m): 9:42am On Mar 19, 2019
grandstar:
Here we go again.

Why palm oil? Because we had comparative advantage in Palm oil 50 years ago does not mean we have it today!

Comparative advantage can be lost. Textiles and garments production flourish in third world countries because it's a labour intensive industry and since labour is cheap in poor controls, it's very ideal.

But as wages begin to rise, manufacturers begin to move out and seek cheaper climes. Japan, South Korea and Hong Kong were once big in textiles but no longer. They lost their comparative advantage in it.

Nigerian farmers seem to be turning their noses away from palm oil and focusing on their attention on other crops such as cashew, sesame seed, Shea butter etc.

It has been estimated that shea butter alone can yield up to $2b yearly for Nigeria.

Cultivating palm oil involves lots of deforestation. Indonesia has lost large acreages of land to oil palm plantations on Sumatra and on many other islands.

The State is poor at picking winners. The market should be left to decide and when it's makes that decision, the government should put it's weight behind it.
Excep they are Taiwan and South korea grin
Re: CBN Eyes $10b Revenue From Palm Oil by grandstar(m): 10:18am On Mar 19, 2019
urahara:
Excep they are Taiwan and South korea grin
I'll be honest with you, I am yet to study it.

Anyway. there is a Chinese saying that,"Money covers a thousand imperfections". Because these countries are prosperous does not necessarily means that all government initiatives worked.

Whether South Korea's picking of winners was successful is not easily discernable because of the existence of the mighty chaebols, which are huge conglomerates such as Samsung and Hyundai.

Because each chaebol is involved in a wide range of activities and many divisions, losses from one can be covered up from the profits of another division.

Let's say Hyundai shipbuilding is making losses and Hyundai cars is profitable, they'll simply use the profits from the car division to cover up for that in shipbuding.

The Chaebols make little profits which indicates that many of their divisions are making either tiny profits or very huge losses.

Until the Chaebols begin to unbundle loss making divisions and focus on their core competence and profits, it will be a Herculean task to determine with sectors thrived with state guiding hand.

The most important thing about South Korea however is that their well educated workforce made the leap from third world to first world possible in a generation.

For Taiwan, it created the enabling environment for science to thrive. That tiny country produces 37,000 engineers a year. America despite being 15 times it's population only produces about 80,000.

What Taiwan seemed to have done is to create the environment for winners to thrive and backing them up.
I will still need to conduct a lot of research
Re: CBN Eyes $10b Revenue From Palm Oil by Gerrard59(m): 10:18am On Mar 19, 2019
IamaNigerianGuy:
I came to point out the same thing. The future if palm oil is uncertain.
No. It's certain. Same is being said for oil but the use of crude oil goes beyond the use as petrol but lots of derivatives. Ditto for palm oil. Until there are commercially viable alternatives for the derivatives of palm oil, then its future is uncertain.


@Topic: What Nigeria needs is constant electricity. We cannot compete with the likes of Indonesia, Colombia, Malaysia or Thailand if there's no constant electricity in place. The cost of production will be higher than our competitors thereby reducing demand for our products. I know local government areas in Akwa Ibom where palm trees can be cultivated but entering into that sector when there's no electricity is tantamount to entering into a pit with open eyes.
Re: CBN Eyes $10b Revenue From Palm Oil by urahara(m): 1:57pm On Mar 19, 2019
grandstar:
I'll be honest with you, I am yet to study it.

Anyway. there is a Chinese saying that,"Money covers a thousand imperfections". Because these countries are prosperous does not necessarily means that all government initiatives worked.

Whether South Korea's picking of winners was successful is not easily discernable because of the existence of the mighty chaebols, which are huge conglomerates such as Samsung and Hyundai.

Because each chaebol is involved in a wide range of activities and many divisions, losses from one can be covered up from the profits of another division.

Let's say Hyundai shipbuilding is making losses and Hyundai cars is profitable, they'll simply use the profits from the car division to cover up for that in shipbuding.

The Chaebols make little profits which indicates that many of their divisions are making either tiny profits or very huge losses.

Until the Chaebols begin to unbundle loss making divisions and focus on their core competence and profits, it will be a Herculean task to determine with sectors thrived with state guiding hand.

The most important thing about South Korea however is that their well educated workforce made the leap from third world to first world possible in a generation.

For Taiwan, it created the enabling environment for science to thrive. That tiny country produces 37,000 engineers a year. America despite being 15 times it's population only produces about 80,000.

What Taiwan seemed to have done is to create the environment for winners to thrive and backing them up.
I will still need to conduct a lot of research
Nice answer !!!!

Many Nigerians under estimate the power of education to propel a country to first world .

You hear many of them saying that of what use is spending a lot on education when there are no jobs.
Re: CBN Eyes $10b Revenue From Palm Oil by chiedu7: 4:18pm On Mar 19, 2019
Tyche:
If you have nothing constructive to say, just get out of the thread.
This freeloading parasite dey vex?
Re: CBN Eyes $10b Revenue From Palm Oil by Tyche(m): 10:57pm On Mar 20, 2019
chiedu7:
This freeloading parasite dey vex?
Stale
Re: CBN Eyes $10b Revenue From Palm Oil by iHart(m): 11:34pm On Mar 20, 2019
Gerrard59:
....entering into that sector when there's no electricity is tantamount to entering into a pit with open eyes.
I partly disagree with this. If everyone doing business is suffering the same effect of inadequate electricity, then the overall effect of electricity on the cost of production cancels out. Yes, cost may be high but it will be high across all board. Where it will be a challenge is when one area, say Abia state, has no electricity and then Akwa Ibom has enough electricity. in that case people in Akwa Ibom will always have it cheaper than people in Abia.

If we consider exporting, we can actually compete favourably irrespective of our power challenge. If we factor in transportation and government policies, Neighbouring Africa countries may find it cheaper to get their oil from Nigeria than going to the Malaysia, Indonesia etc.

my point is, don't say because there is no electricity you won't do business. There are people doing it already with the same electricity challenge. find out how they are doing it and take off
Re: CBN Eyes $10b Revenue From Palm Oil by Gerrard59(m):
iHart:
I partly disagree with this. If everyone doing business is suffering the same effect of inadequate electricity, then the overall effect of electricity on the cost of production cancels out. Yes, cost may be high but it will be high across all board. Where it will be a challenge is when one area, say Abia state, has no electricity and then Akwa Ibom has enough electricity. in that case people in Akwa Ibom will always have it cheaper than people in Abia.

If we consider exporting, we can actually compete favourably irrespective of our power challenge. If we factor in transportation and government policies, Neighbouring Africa countries may find it cheaper to get their oil from Nigeria than going to the Malaysia, Indonesia etc.

my point is, don't say because there is no electricity you won't do business. There are people doing it already with the same electricity challenge. find out how they are doing it and take off
As much as I agree with you post (which is commendable), running a business on generators can be heartbreaking. I have been there before and know how it feels. When one gets to spend 50% of the revenue on fueling and repairs, it becomes ridiculous.

Regarding African nations buying from us, well, the jury is out. It costs the same amount to transport goods from Osaka, Japan to Lagos as from Kano to Lagos. So why should a Congolese purchase palm oil from Nigeria when it is cheaper to buy from Indonesia - which is closer to Africa than Japan?

economist.com/news/middle-east-and-africa/21653616-what-milk-trade-reveals-about-country-uncowed
1 2 Reply

Oil Companies Resume Dollar Sales To Banks As CBN Eyes SupplyCBN Eyes 80% Financial Inclusion Target By 2020MTN Shares Rise By 2.6% On Possible Resolution Of $10b Demand234

How To Print Recharge Card With My PhoneAbia Partners With Radisson Blu To Rebuild Enyimba Hotel, Conference CentreIf You Want To Be Rich And Happy, Don’t Go To School