Nigeria to reclaim position as top Palm Oil Exporter

Nigeria is set to reclaim its position as top palm oil exporter. Consequently, the government is tasking all agricultural stakeholders in the value chain with the responsibility of repositioning the industry.

The Minister of Agriculture and Rural Development (FMARD), Mohammad Abubakar, made the call when he received a delegation of stakeholders in the oil palm industry in Abuja, Nigeria’s capital city.

According to reports, in 2020 Nigeria exported $1.06 million- worth of Palm Oil, making it the 69th largest exporter of Palm Oil in the world. In the same year, Palm Oil was the 137th most exported product in Nigeria.

“In the early 60’s, Nigeria’s agriculture sector was the major source of revenue, but today, the country is struggling to be a big agricultural nation.

“It is not too late for Nigeria to reposition itself.

“Malaysia came to Nigeria some years back, got oil palm seedlings and became number 1 producer of oil palm in the world and today Nigeria is ranked 5th position, which makes it worrisome,” said the Minister.

Abubakar, therefore, pledged to work with any organization positioned to achieve the economic diversification policy of the present administration.

Source: Agro Nigeria