Post by Trade facilitator on Apr 23, 2022 19:00:29 GMT 1
The Federal Government Of Nigeria (FGN) Is Promoting Palm Oil Production In Nigeria Targeting The Export Market
Palm oil is raised to be in Category A product in the Zero Oil Plan
It is currently trading at an average of $35 billion annually at the global market
Nigeria is targeting 5% share of the market amounting to $1.8 billion
Nigeria is currently the largest palm oil producer in Africa and ranked the 5th largest in the world
The Nigerian Export Promotion Council (NEPC) has persistently been harping on the need for palm oil farmers and processors to scale up their production to meet up with the rising demand of palm oil in the international market. The demand for palm oil in the export market is rising daily and there is the need for the country and its farmers to take advantage of the situation to increase production and export.
The Nigerian Export Promotion Council (NEPC) Trade Promotion Advisor, Ado Ekiti, Export Assistance Office, Mrs. Iyabode Abe, said, “Palm oil is ranked to be ‘Category A’ product in the ‘Zero oil plan’ and trades at an average of $35 billion annually at the global market with Nigeria’s target share of the market at 5% amounting to $1.8 billion .
“With this potential, it becomes imperative that production is scaled up to meet the rising demand of the export market.
Nigeria is currently the largest palm oil producer in Africa and ranked the 5th largest in the world,” she said.
Mrs. Abe spoke in Ado Ekiti recently during a technical Intervention training programme on oil palm development for export in Ekiti State with the theme ‘Best practices for enhanced production and processing of quality palm oil for export’ organized for oil palm farmers and processors by the Nigerian Export Processing Council (NEPC).
The advisor urged the farmers and processors to as well “Imbibe best practices in processing in line with global value addition standards and as well as deployment of modern technology for quality oil palm production”.
According to her, the training is part of the attempt by the Federal Government of Nigeria (FGN) to address the challenges of weak organizational support and lack of capacity building facing the farmers and to ensure “Increased participation of the organized private sectors and individual farmers while government provides the impetus for the sector to thrive.
“We in the NEPC are eager to see what the next few years will hold for this important agricultural product a veritable tool for economic change,” she said.
Also at the occasion, Ekiti State Commissioner for Trade and Industries, Muyiwa Olumilua, said that in view of the fact that the country had the capacity, “Nothing stopped Nigeria from looking beyond 5% yearly share of the $35 billion global market to about 20% of that figure which is about $7 billion. We just need to strengthen our technology base and follow due process”.
A brief history of how Nigeria went from being a leader in palm oil production in the world to being a net importer of the product due to negligence of the leaders. It is rumored that the discovery of crude oil was the cause of the neglect. But is it supposed to be so? Why did the leaders not use the money from crude oil to further get better technology to further develop the palm oil industry and increase the country’s leadership position?
In our subsequent articles we are going to go very deep into the problems of the palm oil industry in Nigeria and how it can be solved.
Stay with us as you may have a part to play.
Our company is one of the best companies in Agro-Export Business in Nigeria today, we train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
Palm oil is raised to be in Category A product in the Zero Oil Plan
It is currently trading at an average of $35 billion annually at the global market
Nigeria is targeting 5% share of the market amounting to $1.8 billion
Nigeria is currently the largest palm oil producer in Africa and ranked the 5th largest in the world
The Nigerian Export Promotion Council (NEPC) has persistently been harping on the need for palm oil farmers and processors to scale up their production to meet up with the rising demand of palm oil in the international market. The demand for palm oil in the export market is rising daily and there is the need for the country and its farmers to take advantage of the situation to increase production and export.
The Nigerian Export Promotion Council (NEPC) Trade Promotion Advisor, Ado Ekiti, Export Assistance Office, Mrs. Iyabode Abe, said, “Palm oil is ranked to be ‘Category A’ product in the ‘Zero oil plan’ and trades at an average of $35 billion annually at the global market with Nigeria’s target share of the market at 5% amounting to $1.8 billion .
“With this potential, it becomes imperative that production is scaled up to meet the rising demand of the export market.
Nigeria is currently the largest palm oil producer in Africa and ranked the 5th largest in the world,” she said.
Mrs. Abe spoke in Ado Ekiti recently during a technical Intervention training programme on oil palm development for export in Ekiti State with the theme ‘Best practices for enhanced production and processing of quality palm oil for export’ organized for oil palm farmers and processors by the Nigerian Export Processing Council (NEPC).
The advisor urged the farmers and processors to as well “Imbibe best practices in processing in line with global value addition standards and as well as deployment of modern technology for quality oil palm production”.
According to her, the training is part of the attempt by the Federal Government of Nigeria (FGN) to address the challenges of weak organizational support and lack of capacity building facing the farmers and to ensure “Increased participation of the organized private sectors and individual farmers while government provides the impetus for the sector to thrive.
“We in the NEPC are eager to see what the next few years will hold for this important agricultural product a veritable tool for economic change,” she said.
Also at the occasion, Ekiti State Commissioner for Trade and Industries, Muyiwa Olumilua, said that in view of the fact that the country had the capacity, “Nothing stopped Nigeria from looking beyond 5% yearly share of the $35 billion global market to about 20% of that figure which is about $7 billion. We just need to strengthen our technology base and follow due process”.
A brief history of how Nigeria went from being a leader in palm oil production in the world to being a net importer of the product due to negligence of the leaders. It is rumored that the discovery of crude oil was the cause of the neglect. But is it supposed to be so? Why did the leaders not use the money from crude oil to further get better technology to further develop the palm oil industry and increase the country’s leadership position?
In our subsequent articles we are going to go very deep into the problems of the palm oil industry in Nigeria and how it can be solved.
Stay with us as you may have a part to play.
Our company is one of the best companies in Agro-Export Business in Nigeria today, we train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
