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.
How much palm oil does Nigeria produce a year?
Nigeria, the world fifth largest palm oil producer, consumes around two million tonnes of palm oil per year, half of which is imported, with local output at 800,000 to one million tonnes. Hefer said the big players like Okomu account for just 30 percent of local production, while small growers represent 70 percent.
What is a palm oil production plant?
This Palm Oil Production Plant is based on practically proven technology which is not only energy efficient & environment friendly, but also economical. This is a large scale palm kernel oil processing project set up in Nigeria. The production capacity is 120 tons per day. It is a complete plant including Seed Cleaner, GOYUM 27
Will Nigeria’s thriving palm oil business be revived?
Issued on: 03/10/2021 – 08:04 Modified: 03/10/2021 – 08:02 Standing beside the piles of dark red palm fruits ready for crushing for their essence, Nigerian farmer Micah Ojo hopes to cash in on the government’s drive to revive the country’s once thriving palm oil business.