Nigeria can earn big from palm oil, says Okomu Palm Oil MD

Mr. Graham Hefer, Managing Director of Okomu Palm Oil Company has said processed palm oil can become a major foreigner exchange earner for the country in spite of infrastructure deficit, adding that if the necessary infrastructure can be put in place, production of palm oil will grow in volumes and this can help to ease pressure on foreign exchange as well as facilitate development of other sectors.


Hefer who was speaking recently in Benin said agriculture remains the best option for Nigeria to get out of its economic woes and palm oil produce could sustain Nigeria’s economy in the future.

The palm oil sector in the country’s Gross Domestic Product (GDP) is heavy and an indication that there was a large scope for improvement.

“I can see a big boom in the sub-sector only if there is right environment for government-private partnership.’’ he said.

Hefer noted that although Okomu Palm Oil is growing steadily, he regretted that the company is not doing as much as its counterparts outside Nigeria.

“Currently, we produce 40,000 tonnes of palm oil yearly with two oil mills and all of these we sell locally.


“But we are hoping that in next 45 years, with our expansion programme, with additional oil mills we hope to build, we plan to double our production to 80,000 tonnes per annum.

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