The National Palm Produce Association of Nigeria (NPPAN), has disclosed that Nigeria spends $600 million on palm oil importation annually.
Mr Alphonsus Inyang, National President of the association, stated this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.
He described the expenses as unhealthy for national development.
Inyang said the money could be saved and injected into the economy if the palm oil sub-sector was given due attention by successive governments.
He regretted that Nigeria, which was self-sufficient in palm oil production in time past, now spends huge amount to import same product.
Inyang recalled that in the 1960s, Nigeria was number one in palm oil production and exportation globally, controlling over 60 per cent of world palm oil.
He said that the reverse was the case at the moment as over 50 per cent of what we consume is imported, while the country occupies the fifth position in the league of palm oil producing countries after Indonesia, Malaysia, Thailand and Colombia.
He expressed fears that Nigeria may even lose the position to smaller countries who are investing heavily in the sector.
The president attributed the challenge to the neglect of the sector by successive governments.
“Currently, Nigeria is the largest consumer of the product in the continent, consuming approximately three million metric tons yearly.
“Domestic production stands at less than 1.4 million metric tons, leaving a deficit of over 1.6 million metric tones,’’ he said.
Inyang urged government, specifically the Federal Ministry of Agriculture and Food Security, to support NPPAN members with seedlings to develop 250,000 hectares per year.
