Agriculture experts have called for increased investment in oil palm production to stimulate growth and development in the sector. In separate interviews with the News Agency of Nigeria (NAN) on Tuesday in Lagos, they highlighted a recent report showing that Nigeria imported N299.6 billion worth of palm oil between 2017 and 2022. The publication, which relied on quarterly data from the National Bureau of Statistics, noted that “Palm Crude Oil” consistently ranks among the top five imported agricultural products.
Prof. Adetunji Iyiola, a fellow at the National Agriculture and Extension Research Liaison Service, described the reliance on imported oil palm as an anomaly for an agrarian country like Nigeria. He urged the development of new strategies to boost local production, emphasizing a return to basic principles. “We need to make a habit of investing in oil palm production in Nigeria; it is a very lucrative business,” Iyiola said. He advocated for greater investment in local processing, noting that returns could be seen within four to five years. “We have the capital to invest in the entire value chain—from production to processing and export. We should not import palm oil as a nation when we have fertile land from Benin to Osun to Ondo capable of supporting robust growth,” he added. Iyiola called on the government to strengthen agricultural extension services, particularly for oil palm cultivation, so that farmers receive the information needed to increase domestic output. He also urged governmental support for local processing, arguing that funds currently wasted on imports should be redirected into the economy.
Mr. Akin Alabi, co‑founder of Corporate Farmers International, echoed the need for concerted effort across production, processing, and marketing. He identified several challenges: the lack of premium seeds, insufficient large‑scale producers, and underutilization of the country’s fertile land. “Our research institutes must develop high‑quality seeds to match the standards of countries like Malaysia and other Asian producers,” Alabi said. He noted that existing seed varieties are inadequate for boosting local production.
Alabi also stressed that Nigeria has not fully tapped the oil palm value chain. “We still rely on traditional methods for domestic consumption,” he explained, adding that the sector must expand beyond basic consumption to industrial applications. By addressing these gaps, he believes Nigeria can create wealth throughout the oil palm value chain.
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