FG Moves to Revive Oil Palm Industry, Targets 10% Global Market Share
Nigeria is aiming to reclaim its leadership in the global oil palm market, with plans to lift two million people out of poverty and capture at least 10 percent of the global market share over the next six years. This was announced by the Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Sabi Abdullahi, during the validation of the Nigerian Oil Palm Development Strategy in Abuja.
Abdullahi highlighted the oil palm sector as a key driver of agribusiness, industrial growth, and export diversification. Revitalising the industry, he said, could reduce Nigeria’s reliance on imported edible oils while boosting rural incomes and creating jobs.
Once a global leader, Nigeria has lost ground to countries like Indonesia and Malaysia due to low productivity, weak processing infrastructure, and limited financing. The new strategy seeks to modernise processing systems, improve access to high-yield and climate-resilient seedlings, strengthen extension services, and support smallholder farmers with inputs, training, and market access.
Permanent Secretary Dr. Marcus Ogunbiyi noted that the plan aligns with the government’s Renewed Hope Agenda, focusing on food security and economic diversification. He called for strong collaboration between government, private investors, and financial institutions to ensure successful implementation.
The strategy also prioritises sustainability and climate-smart practices, while Nigeria has joined the Council of Palm Oil Producing Countries (CPOPC) as an observer to benefit from global best practices and strategic partnerships.
Director of Planning and Policy Coordination, Ibrahim Tanimu, stressed that the strategy’s success depends on effective execution to benefit farmers, processors, investors, and the broader economy.
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