The Minister of Agriculture and Food Security, Abubakar Kyari, has disclosed that Nigeria spends over $600 million annually on palm oil importation, due to a significant shortfall in local production.
Speaking at the inauguration of the National Palm Oil Traceability Framework and Inter-Agency Committee in Abuja, Kyari—represented by the ministry’s Permanent Secretary, Marcus Ogunbiyi—said Nigeria’s current production stands at just 1.4 million metric tons annually, while demand exceeds 2 million metric tons.
“Today, our share has declined to less than 2 percent, with production standing at about 1.4 million metric tons annually, while national demand is over 2 million metric tons. Each year, Nigeria spends over 600 million US dollars importing palm oil,” he noted.
The minister said the newly inaugurated Palm Oil Traceability Framework Committee will help address issues of adulteration, poor processing, and quality control. The committee operates under the National Initiative for Sustainable and Climate-Smart Oil Palm Smallholders (NISCOPS) programme, aimed at reforming Nigeria’s oil palm sector.
Kyari emphasized that boosting local production through better processing standards, traceability, and climate-smart practices will reduce import dependence and restore Nigeria’s competitiveness in the global palm oil market.
