OIL PALM AGRICBUSINESS IN NIGERIA…

OIL PALM AGRICBUSINESS IN NIGERIA…

Nigeria is ranked among the highest producers of oil palm in Africa

But you know what?, we still import to meet up our Red oil consumption rate. When we are supposed to be producing to meet up with our domestic consumption level and also export to the global market.

As an Agro-investor, you should find a way to fill this Gap.

Nigeria is a country blessed with good land and a favorable climate condition that favors the cultivation of Oil palm trees, we should not be importing red oil into this country.
But as we are unable to meet up with our consumption level, then there will be no other option than to spend money which could have been invested in oil palm agribusiness (cultivation and processing) to import red oil into the country.

Sincerely, we have a long long way to go, How do we get to this stage?

From the number 1 largest producer of palm oil with a market share of 43% in the early 19th before the 1960s to the 5th with less than 1% market …. This is bad.

We as an agro-investor need to look into this and see it as an opportunity to make money by bridging this gap.

We have favorable weather and fertile soil that is suitable for oil plan plantation, we also have good oil palm tree species in this country.

We have a tenera oil palm variety by NIFOR (Nigeria Institute For Oil palm Research). This variety is an improved breeding work of crossing dura and pisfera varieties (that is the work of breeders). The aim is to cross 2 needed characteristics if the 2. Resulting in the tenera we have today, which is of good yield suitable for both red palm oil and palm kernel oil.

I will implore agro-investors to venture into oil palm agribusiness, both cultivation and processing of the palm fruits to derive many by-products.

From palm trees alone, we can produce red palm oil, palm kernel oil, broom, palm wine, planks/woods, mats, baskets, front stalls, etc. These are just a few of the direct by-products, these by-products can also be used for the production of many products. We shall discuss that later.

You can set up a mini or large oil palm mill on the farm to processing your palm bunches to oil palm and other products….

I understand that oil palm takes more years (3 – 5years upward) and this might want to discourage investors from investing in oil palm business especially those that want to generate income within short period of time. But you can intercrop your oil palm with short term crops like maize, yam, potatoes, pineapples, etc.

All you just need is proper management and the desired result will be achieved.