There is a huge opportunity in the Oil Palm sector across the entire value chain. In the 1950s, Nigeria was a major player accounting for 645,000 metric tonnes (43%) of global production annually. Today, we are unable to meet our local demand with a deficit of 700,000 tonnes. In an interview with Henry Olatujoye, National President of the National Palm Produce Association of Nigeria (NPPA) he walks through some of the challenges of Oil Palm Industry in Nigeria.
For Nigeria to reclaim its dominant position in the industry and become self-sufficient in oil palm production, private and government investments will be needed to facilitate large-scale production that would bridge the demand-supply gap of the commodity. A report from FAO gives some insights into the dynamics of the industry.
Join us over the next couple of weeks as we go through an Oil Palm Industry information series.