• About Us
  • Contact Us
  • Privacy & Policy
Thursday, July 10, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Nigeria Consumes 3 Million Tonnes of Palm Oil Annually, Production Falls Short

Vincent Amadi by Vincent Amadi
June 19, 2024
in Economy, News
Reading Time: 2 mins read
A A
0
Nigeria Consumes 3 Million Tonnes of Palm Oil Annually, Production Falls Short
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


According to the National Palm Produce Association of Nigeria (NPPAN), Nigeria spends $600 million annually on importing palm oil.
The association’s national president, Mr Alphonsus Inyang, stated this in an interview with Journalists on Tuesday in Abuja. He described the expenditure as unhealthy for national development. Inyang said if successive governments paid due attention to the palm oil sector, funds could be saved and injected into the economy.
The President regretted that Nigeria, which was once self-sufficient in palm oil production, now spends huge sums on importing the same product. Inyang, reflecting on Nigeria’s agricultural past, stated that in the 1960s, the country was the world’s leading producer and exporter of palm oil, holding a staggering 60 percent share of the global palm oil market.


Now the opposite is true, with over 50 percent of consumption being imported.
The country now occupies fifth place in the league of palm oil-producing countries, behind Indonesia, Malaysia, Thailand, and Colombia.
“Nigeria may even lose its position to smaller countries that are investing heavily in the sector. Indonesia is first with 50 million tonnes, Malaysia is second with 19 million tonnes, Thailand with 3.28 million tonnes and Colombia with 1.9 million tonnes,” he said.


Inyang said that according to the United States Department of Agriculture, Nigeria currently ranks fifth in the palm oil producing countries ranking, with 1.5 percent or 1.4 million tonnes of the world’s total production.
“In 1966, Nigeria replaced Malaysia and Indonesia as the world’s largest palm oil producer and exporter. Currently, Nigeria is the largest consumer of the product on the continent, consuming about 3 million tonnes per year.
Domestic production is less than 1.4 million tonnes, leaving a deficit of over 1.6 million tonnes,” he said.
Inyang called on the government, especially the Federal Ministry of Agriculture and Food Security, to support NPPAN member countries by providing seedlings for the development of 250,000 hectares per year.
“Our members can plant up to 250,000 hectares per year under the association’s National Oil Palm Strategic Development Plan. All we need are inputs. The government doesn’t need to give us land to develop. We need seedlings, fertilizer, logistics, and equipment to close this gap within four years. We will also create new millionaires in the 28 federal states,” he said.

Tags: businessnigeria
Vincent Amadi

Vincent Amadi

Related Posts

Peter Obi urges Northern leaders to invest in education to tackle poverty
National

Just In: I will contest for office of the President in 2027 — Peter Obi

4 days ago
Breaking: Gunmen kill 11 Ebonyi indigenes at Ogboji meeting in Anambra. Survivor recounts horror.
News

Breaking: Gunmen kill 11 Ebonyi indigenes at Ogboji meeting in Anambra. Survivor recounts horror.

1 week ago
Mohbad: Court Dismiss Mohbad’s Father’s Case Against Naira Marley, Sam Larry
News

Mohbad: Court Dismiss Mohbad’s Father’s Case Against Naira Marley, Sam Larry

1 week ago
Speed Darlington Rejects NAPTIP Summons, Denies Allegations of Rape and Cyberbullying
News

Speed Darlington Rejects NAPTIP Summons, Denies Allegations of Rape and Cyberbullying

1 week ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Edo election: I can’t pretend what Supreme Court delivered is justice — Ighodalo
National

Edo election: I can’t pretend what Supreme Court delivered is justice — Ighodalo

6 hours ago
Ukraine’s drone strike hits Russian airbase targets
National

Security operatives neutralise 30 bandits in Katsina counter-attack

15 hours ago
Constituency Allowance: Legislative Member Rekindles Debate,  Admits Senators, House Members Receives N2b, N1b
National

Senate to criminalise electricity infrastructure vandalism and curb sabotage

15 hours ago
Ribadu Warns of Money Laundering, Drug Trafficking via Illegal Charter Operators
National

Nigeria is safer, better under Tinubu administration — NSA Ribadu

15 hours ago
Oyo Approves ₦7.7 Billion for Aircraft to Combat Banditry and Kidnapping
National

Oyo Approves ₦7.7 Billion for Aircraft to Combat Banditry and Kidnapping

1 day ago
FG to provide electricity to 300 million unserved people  — Adelabu
National

FG to provide electricity to 300 million unserved people  — Adelabu

2 days ago

POLITICS

ADC, APC woo Kwankwaso  ahead of 2027 elections

ADC, APC woo Kwankwaso  ahead of 2027 elections

2 days ago
Coalition’s ADC will collapse in 6 months — Daniel Bwala

Coalition’s ADC will collapse in 6 months — Daniel Bwala

2 days ago
Will the opposition coalition bring back fuel subsidy?  — Katsina Governor Radda

Will the opposition coalition bring back fuel subsidy?  — Katsina Governor Radda

2 days ago
PDP BoT member, Waziri, former Katsina PDP chairman, Uli, joins coalition’s ADC

PDP BoT member, Waziri, former Katsina PDP chairman, Uli, joins coalition’s ADC

3 days ago
Coalition’s ADC takes over of PDP structures in North East

2027 election: Presidency scheming to destroy our party — ADC alarms

3 days ago
Keyamo Praises Governor Mbah, Urges Professionalism in Enugu Air Launch

Keyamo Praises Governor Mbah, Urges Professionalism in Enugu Air Launch

3 days ago

YOUR ECONOMY

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

2 weeks ago
IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s
Economy

IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s

3 weeks ago
Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

3 weeks ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

3 weeks ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery Begins Distribution of Petrol Nationwide

4 weeks ago
Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

4 weeks ago

E & P

Napoli rejects Galatasaray €75m offer for Osimhen
Sports

Napoli rejects Galatasaray €75m offer for Osimhen

by Steven Atogi
6 hours ago
0

Super Eagles striker Victor Osimhen transfer drama has taken a new turn, as Napoli rejected a third bid from Turkish...

Oliseh Warns Osimhen Against Galatasaray Return, Urges Premier League Move

Oliseh Warns Osimhen Against Galatasaray Return, Urges Premier League Move

1 day ago
Just In: Osimhen agrees on personal terms with Galatasaray, rejects Al Hilal €75m bid

Just In: Osimhen agrees on personal terms with Galatasaray, rejects Al Hilal €75m bid

3 days ago
Breaking: Galatasaray submits €50m bid for Victor Osimhen

Breaking: Galatasaray submits €50m bid for Victor Osimhen

3 days ago
Chelsea Target Arsenal’s Ethan Nwaneri Amid Contract Talks

Chelsea Target Arsenal’s Ethan Nwaneri Amid Contract Talks

5 days ago
Arsenal Close In on Madueke Transfer After Agreeing Personal Terms

Arsenal Close In on Madueke Transfer After Agreeing Personal Terms

5 days ago

YOUR THOUGHT & HISTORY

El-Rufai Plans New Party as ADC Backup Against APC Interference
Columns

The Shadow Strategist: El-Rufai, the Illusion of Power, and 2027’s Looming Reckoning

by Odini Brains
4 days ago
Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
2 weeks ago
The Emerging Kogi: Economic Growth Impact Transforming Better Reality
Columns

The Emerging Kogi: Economic Growth Impact Transforming Better Reality

by Kiikpoye Karibo
2 weeks ago
ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
5 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
6 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Edo election: I can’t pretend what Supreme Court delivered is justice — Ighodalo

Edo election: I can’t pretend what Supreme Court delivered is justice — Ighodalo

July 10, 2025
Napoli rejects Galatasaray €75m offer for Osimhen

Napoli rejects Galatasaray €75m offer for Osimhen

July 10, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address