According to World Rain-forest Movement, oil palm is indigenous to the Nigerian coastal plain though it has migrated inland as a staple crop (Bassey, 2016; PIND, 2011) [9, 20] . The Nigerian oil palm belt covers majorly nine states of the Niger Delta (Akwa Ibom, Abia, Rivers, Edo, Imo, Ondo, Bayelsa, Cross River and Delta). … …
How many palm oil mills does Okomu have?
Established in 1976, Okomu has three oil mills, producing 40,000 tonnes of crude palm oil (CPO) per year. One mill is in operation, while the second is due for commissioning this month and the third expected to come on stream next year. The company expects to double production to 80,000 tonnes per year by 2025. – Small players struggle –
Why is palm oil profitable in Nigeria?
Palm oil is lucrative due to its enormous demand internationally for its numerous uses as edible oil with plenty of substitutional advantages. Due to the decline in agricultural productivity in Nigeria, the country’s ability to increase production that can match the domestic demand and consumption became a challenge.
How much does it cost to develop oil palm in Nigeria?
The Plantation Owners Forum of Nigeria, an industry lobbying group, has appealed to government and lenders to assist smaller operators with concessionary loans. To develop one hectare of oil palm requires $4,000 to $5,000 and the gestation period is a minimum of three years, according to the association.