Farmer laments as palm oil imports gulp N60 billion

Reaction has trailed the N60 billion spent on palm oil import, as farmers have urged the government to use the industry to create employment and alleviate poverty in the country.

Figures from the Nigeria Nigerian Ports Authority and National Bureau of Statistics showed that the inflows of palm oil imports through the seaports stand at N61.9billion.

Shipping data from the NPA  also show that the country took delivery of 19, 200 tonnes of the produce from Rayyan I laden with 10,200 tonnes; Chem Lyra, 5,000 tonnes and Easterly AS  Oliva, 4,000 tonnes.

Speaking at a forum organised by Malaysia External Trade Development Corporation in Lagos, the Managing Director, Foremost Development Services Limited and Advisor to Plantation Owners Forum of Nigeria, Mr Fatai Afolabi, urged the government to use the palm oil industry to create employment and reduce poverty.

He said 40 per cent of palm oil plantations in Malaysia were owned or farmed by small-scale farmers, whereas, it was over 70 per cent small-scale owned in Nigeria.

He said, “As palm oil had been a major factor in Malaysia, reducing poverty from 50 per cent in the 1960s, down to less than five per cent. Nigeria can also achieve poverty alleviation through the industry.”

Unlike Malaysia,  he disclosed, Nigeria has just a little over 600,000 hectares under improved oil palm planting, with a less-established oil palm industry

Last month, investigation revealed that Winter discharged  8,200 tonnes, Admore, 19,000tonnes and Golden Camellia, 9,700tonnes, while Atlantik Miracle and  Harbour Progress offloaded  5,300 tonnes  and 5,000 tonnes  in May this year.

The imports declined 49.1 per cent from $186.7million in 2021 in the same period due to forex restriction by the Central Bank of Nigeria, high price of the commodity which has reached $1,121.33 per tonnes in the global market and  the Ukraine-Russia war.

The country imported $351million worth of the produce in 2020 from Malaysia, Indonesia, Singapore, Colombia and Niger but the imports was reduced to $186.7million in 2021.