ADVERTISEMENT
  • Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, September 16, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • All
    • Athletics
    • Basketball
    • Boxing
    • Esports
    • Football
    • Olympics
    • Paralympics
    • Tennis

    American Tinch Wins World 110m Hurdles Gold In Tokyo

    New Zealand’s Kerr Clinches Gold In Men’s High Jump At World Athletics Championships

    World Athletics Championships: Kipyegon Wins Historic Fourth World 1500m Gold

    NSC Pays Athletes’ Allowances, Bonuses At Tokyo World Championships

  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • All
    • Athletics
    • Basketball
    • Boxing
    • Esports
    • Football
    • Olympics
    • Paralympics
    • Tennis

    American Tinch Wins World 110m Hurdles Gold In Tokyo

    New Zealand’s Kerr Clinches Gold In Men’s High Jump At World Athletics Championships

    World Athletics Championships: Kipyegon Wins Historic Fourth World 1500m Gold

    NSC Pays Athletes’ Allowances, Bonuses At Tokyo World Championships

  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria Spends $600m Importing Palm Oil Annually

by Leadership News
1 year ago
in Business
Palm Oil
Share on WhatsAppShare on FacebookShare on XTelegram

The National Palm Produce Association of Nigeria (NPPAN) says Nigeria spends $600 million on palm oil importation annually.

Advertisement

Alphonsus Inyang, the national president of the association, stated this in an interview with NAN yesterday in Abuja. He described the expenses as unhealthy for national development.

Inyang said the money could be saved and injected into the economy if the palm oil sub-sector was given due attention by successive governments.

The president regretted that Nigeria, which was self-sufficient in palm oil production in the past, now spends a huge amount to import the same product.

Inyang recalled that in the 60s, Nigeria was number one in palm oil production and exportation globally, controlling over 60 per cent of world palm oil.

Related News

Lenders Would Have Seized My Assets If Refinery Project Failed – Dangote

2 hours ago

Court Orders Final Forfeiture Of $7m In Providus Bank Vault

6 hours ago

He said that the reverse was the case at the moment as over 50 percent of what we consume is imported.

“At the moment, the country occupies the fifth position in the league of palm oil-producing countries after Indonesia, Malaysia, Thailand and Colombia.

“Nigeria may even lose the position to smaller countries who are investing heavily in the sector.

“Indonesia occupies the first position, producing 50 million metric tons, Malaysia second with 19 million metric tons, Thailand 3.28 million and Colombia 1.9 million metric tonnes,” he said.

The president attributed the challenge to the neglect of the sector by successive governments.

Inyang said that based on the U.S. The Department of Agriculture, Nigeria currently occupies fifth position in the league of palm oil-producing countries with 1.5 percent or 1.4 million metric tonnes of the world’s total output.

“Nigeria was overthrown as the world’s largest palm oil producer and exporter by Malaysia and Indonesia in 1966.

“Currently, Nigeria is the largest consumer of the product in the continent, consuming approximately three million metric tons yearly.

“Domestic production stands at less than 1.4 million metric tons, leaving a deficit of over 1.6 million metric tonnes,’’ he said.

Inyang specifically called on the federal ministry of agriculture and food security, to support NPPAN members with seedlings to develop 250,000 hectares per year.

“Our members can plant up to 250,000 hectares per year through the association’s National Oil Palm Strategy Development Plan; all we want are inputs.

“The government does not need to give and develop land for us, we need seedlings, fertilisers, logistics and implements to close this gap within four years.

“We will also create new millionaires in 28 states of the federation,” he said.

Join Our WhatsApp Channel

Tags: Palm oil
SendShare10214Tweet6384Share

Other News Updates

Business

Lenders Would Have Seized My Assets If Refinery Project Failed – Dangote

2025/09/16
Business

Court Orders Final Forfeiture Of $7m In Providus Bank Vault

2025/09/16
Business

Nigeria’s AI Adoption Surpasses Global Growth Average

2025/09/16
Business

Nigeria Leads Digital Asset Adoption In Africa

2025/09/16
Business

External Reserves Grow By 12% To $41.663bn

2025/09/16
Business

AIICO Insurance Unveils Recycling Project For Greener Future

2025/09/16
Leadership Conference advertisement

LATEST

IAWPA Chieftain, Felicia Iwobi, Calls For Agricultural Investment In Nigeria

Bida Poly Deploys Soldiers As Exam Invigilators As Lecturers Stay Away

Daisy Danjuma, Tumaka, Salami Endorse ‘Leading In A Storm’ For Public, Private Sector Leaders

JUST-IN: Nasarawa APC Deputy Chairman Barde Dies

Army Neutralises 2 Suspected Terrorists In Taraba

JUST-IN: Abia Lawmaker Akaliro Dumps APC For LP Over ‘Exclusion’

Police Arrest Suspected Cultists, Fish Thieves In Niger

Lenders Would Have Seized My Assets If Refinery Project Failed – Dangote

Akwa Ibom Police Nab 3 Suspects In Failed Human Trafficking Bid

JUST-IN: Fire Guts UBA Branch On Lagos Island

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.