“Nigeria needs palm oil worth $500 million annually”- Association
The Oil Palm Growers Association of Nigeria (OPGAN) says Nigeria needs about $500 million worth of palm oil annually to meet its local demand.
The OPGAN’s National President, Mr Joe Onyiuke, said this, while noting that to bridge the gap, local palm oil producers in Nigeria need to strategize to attract the needed funding to improve and increase production.
“Palm oil is a major component for the production of more than 40 items, apart from being used for cooking.
“The production and supply gaps in the palm oil value chain were because its processing has been left to the elderly, who most times deploy outdated processing methods,” said Onyiuke, while speaking at a town hall meeting with the Akwa Ibom State chapter of the association in Uyo.
Meanwhile, Onyiuke explained that the war between Russia and Ukraine has constrained major palm oil-producing countries like Malaysia and Indonesia to limit their export capacities with Nigeria, as they are unable to meet the increasing export requests since production levels have stagnated.
“It is so bad that Nigeria does not even have any capacity to export palm oil again and the local demand gap is about $500 million and that is why OPGAN has taken it upon themselves to organize members properly.
“If we can galvanize our strength, I am very sure we can meet the gap and surpass it.
“Oil palm affects our lives everywhere, especially in the food industry.
“Without palm oil, you can’t have your noodles, pasta, soap, margarine, mayonnaise, chocolate, toothpaste and so on in the food industry.
“Oil palm is the key because more than 40 items are produced from it and so when you talk about food security in the world, oil palm remains key,” Onyiuke stated.
Earlier, the State Chairman of OPGAN, Bishop Onukak Afahaene, urged members of the association to key into the vision of the Onyiuke-led OPGAN, expressing joy that the Federal Government had realized the need for increased oil palm production.
Source: Agro Nigeria
