Nigeria’s Oil Palm Revolution: 1.5 Million Hectares to Be Replanted!

Nigeria’s Oil Palm Revolution: 1.5 Million Hectares to Be Replanted!

…As BUA, Okitipupa Oil Palm, Ellah Lakes & Others Boost Investment

Palm Oil Boom Incoming!

? Nigeria Gears Up to Reclaim Global Spotlight

In a bold move to revive Nigeria’s oil palm legacy and tap into the surging demand for palm oil both locally and globally, oil palm growers are set to replant 1.5 million hectares of oil palm over the next five years across 27 states.

Why it matters? Nigeria wants to move from being the 5th largest to the 3rd largest global producer of palm oil!

This ambitious plan is part of the Oil Palm Development Strategy for Nigeria (2024–2029) spearheaded by the Oil Palm Growers Association of Nigeria (OPGAN).

What’s the Goal?

 • Close Nigeria’s 1.92 million metric tons (MT) palm oil production gap

 • Boost foreign exchange earnings via exports

 • Drive job creation and economic growth

 • Empower local oil palm farmers and investors

Key Stakeholders Fueling the Growth:

 • BUA Group has signed a deal with Alfa Laval to build a 1,000MT/day palm oil refinery in Dubai.

 • PZ Wilmar has invested over $150 million, controlling over 26,000 hectares in Cross River.

 • Ellah Lakes plans to kick off production in 2025 and expand into palm kernel oil.

 • Okitipupa Oil Palm Plc (OOP) under new investors, has acquired 4 state-of-the-art mills for massive expansion in Ondo State.

 • UNIDO & NPPAN brought in €300 million investment to strengthen the sector and create 300+ jobs.

A Blast from the Past:

Nigeria once led the global palm oil market in the 1960s, but nations like Indonesia, Malaysia, and Thailand took over. Now, Indonesia alone earned $23 billion from palm oil exports in 2024!

Backed by the Government:

The Federal Ministry of Agriculture is in full support. Abdullahi G. Abubakar, Director at the Ministry, praised the strategy, calling it a “testament to collaborative excellence.”

Big Profits Already Rolling In:

 • Presco Plc grew after-tax profit by 4088.7%

 • Okomu Oil saw 1188.3% profit growth in 2024

Hot Fact: Edo State is the current leader in palm oil production thanks to its fertile land!

In Summary:

Nigeria’s palm oil sector is heating up fast! With massive replanting plans, multi-million dollar investments, and global market focus, the country is on a mission to revive its crown as a palm oil powerhouse!

Stay tuned—Nigeria’s green gold rush is here!

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