The National Palm Produce Association of Nigeria (NPPAN), says Nigeria can save and reinvest 600 million dollars annually if it stopped the importation of palm oil and instead, invest in local producers.
National President of the association, Alphonsus Inyang, stated this on Tuesday in Abuja. He described the expenses as unhealthy for national development.
Inyang said the money could be saved and injected into the economy if the palm oil sub-sector was given due attention by successive governments.
“Nigeria spends 600 million dollars on palm oil importation annually. The money could be saved and injected into the economy if successive governments gave the palm oil sub-sector due attention.
“At the moment, the country occupies the fifth position in the league of palm oil-producing countries after Indonesia, Malaysia, Thailand and Colombia.
“Nigeria may even lose the position to smaller countries who are investing heavily in the sector.
“Indonesia occupies the first position, producing 50 million metric tons, Malaysia second with 19 million metric tons, Thailand 3.28 million and Colombia 1.9 million metric tons,” Inyang said.
The president regretted that Nigeria, which was self-sufficient in palm oil production in time past, now spends huge amount to import same product. He recalled that in the 60s, Nigeria was number one in palm oil production and exportation globally, controlling over 60 per cent of world palm oil.
“In the 60s, Nigeria was the leading global producer and exporter of palm oil, controlling over 60 per cent of the world’s supply,” Inyang said.
“Now, more than 50 per cent of our consumption is met through imports.”
He pointed out that while Nigeria is now the largest consumer of palm oil in Africa, with an annual consumption of approximately three million metric tons, domestic production remains below 1.4 million metric tons, creating a deficit of over 1.6 million metric tons.
To address this shortfall, Inyang urged the government, specifically the Federal Ministry of Agriculture and Food Security, to support NPPAN members with essential resources.
“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,” he said.
“The government does not need to provide and develop land for us. We need seedlings, fertilizers, logistics, and implements to close this gap within four years.
“This will also create new millionaires in 28 states of the federation.”
