SON: Nigeria Could Save N94bn Annually on Palm Oil Importation
SON: Nigeria Could Save N94bn
Annually on Palm Oil Importation
The Standards Organisation of
Nigeria (SON) has stated Nigeria has the capacity to save over N94 billion
annually if it adopts strict adherence to stipulated standards and quality
requirements in its palm oil production processes. SON also explained that palm
oil products could attract increased foreign earnings for Nigeria as far as
non-oil sector is concerned.
According to a press statement
issued by the office of the Director General/ Chief Executive of SON, Dr.
Ifeanyi Chukwunonso Okeke, the agency has been making concerted efforts to
ensure the growth of Nigeria’s export trade. The statement was released after
the agency’s public sensitisation workshop for palm oil operators and stakeholders
held in Osogbo, Osun state capital last week.
The SON statement was apparently
in reaction to a shocking disclosure by one of chief facilitators at the event,
Prof. Kehinde Owolarafe of the Department of Agricultural and environmental
Engineering, Obafemi Awolowo University, (OAU), Ile-Ife, who said Nigeria loses
N94 billion annually to palm oil importation.
According to the don, between
1920 and 1960, Nigeria was the leading producer and exporter of palm oil in the
world. “But sadly, Indonesia and Malaysia now lead in the production of palm
oil in the whole world. “Though there has been an increase in production of oil
palm in the last few years, but Nigeria at present imports palm oil to the tune
of about one million metric tonnes to supplement the local production in order
to meet the high demand.
“Indonesia and Malaysia produce
in tens of million tonnes, while Nigeria is still struggling to reach two
million tonnes. “Currently, Nigeria, which occupied the premier position has
been dropped to the fifth position,” he said. Owolarafe listed some of the
factors resulting in the low production of palm oil in the country to include
declining productivity of oil palm plantations due to old age.
Other factors, he said, were lack of appropriate technologies for palm fruit processing and unfavourable government policies as regards agriculture in general, among others. He said there was urgent need to improve the quality and quantity of palm oil production in the country to meet the international standards in order for export.
This Day, 18 March 2024