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Nigeria spends $600m annually to import palm oil – NPPAN

By George George Idowu

The National Palm Produce Association of Nigeria (NPPAN) has revealed that Nigeria spends $600 million annually on importing palm oil.

The National President of NPPAN, Mr. Alphonsus lnyang expressed concerns over this expenditure in an interview in Abuja on Wednesday, describing it as detrimental to national development.

Inyang lamented that Nigeria, once a global leader in palm oil production and exportation, now imports over 50 % of its palm oil consumption.

He recalled that in the 1960s, Nigeria controlled more than 60 per cent of the world’s palm oil market. Today, Nigeria ranks fifth among palm oil-producing countries, trailing behind Indonesia, Malaysia, Thailand, and Colombia.

“Indonesia leads with 50 million metric tons, Malaysia follows with 19 million, Thailand with 3.28 million, and Colombia with 1.9 million metric tons. Nigeria produces only 1.4 million metric tons, which is 1.5 per cent of the global output,” Inyang stated.

He added that Nigeria consumes approximately three million metric tons of palm oil annually, creating a deficit of over 1.6 million metric tons.

NPPAN president attributed the decline to the sector’s neglect by successive governments. He urged the government, particularly the Federal Ministry of Agriculture and Food Security, to support NPPAN members with seedlings, fertilizers, logistics, and implements to develop 250,000 hectares of palm oil plantations per year.

He said: “Our members can plant up to 250,000 hectares per year through the association’s National Oil Palm Strategy Development Plan. All we need are inputs. This initiative could also create new millionaires in 28 states of the federation.”


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