NPPAN Urges CBN to Earmark N200bn for Oil Palm Farmers

The National Palm Produce Association of Nigeria (NPPAN) has called on the Central Bank of Nigeria (CBN) to make available a minimum of N200 billion for smallholder oil palm farmers under its Oil Palm Development Initiative (OPDI).

NPPAN also urged the National Assembly to establish the National Oil Palm Development Council to regulate, incentivize investments, and provide a level playing field for players.

The association made these demands recently during its National Executive Council meeting held in Ondo State.

The meeting was convened to address several issues affecting the industry as well as to inaugurate members of the board of trustees.

The association also lauded the Ondo State Government for allocating and gazette 10,000 hectares of arable land for the development of oil palm in the state, adding that the governments of the other 24 states with comparative advantage in oil palm production should follow suit.

NPPAN further demanded the release of 25 percent of all import duties charged on all imported oil palm products to the association for backward integration and opening of new oil palm plantations in the country.

According to the association, adequate funding of the Nigerian Institute for Oil Palm Research (NIFOR) for increased research and production of hybrid seedlings is urgent and necessary

“We also request the Federal and State Governments to partner with the association to produce and distribute 10 million hybrid Oil Palm seedlings to smallholder farmers yearly, and support the novel program of the association to empower every family to plant 20 oil palm trees between 2021- 2026; codenamed ‘1 Family 20 trees’, it added.

source AGRO NIGERIA