• How much palm oil is produced in Nigeria in 2023?
  • In 2023, the production of palm oil in Nigeria reached 1.4 million metric tons. Between 2009 and 2023, the production quantity generally increased, registering the highest growth in 2010, when it grew by roughly 14 percent. From 2014 onwards, the output from palm oil production followed a rising trend.
  • How much does palm oil cost in Nigeria?
  • Starting from $2,388 USD / Year You only have access to basic statistics. Business Solutions including all features. * Prices do not include sales tax. In 2023, the production of palm oil in Nigeria reached 1.4 million metric tons.
  • What is the palm oil industry like in Nigeria?
  • The Nigerian palm oil industry is very fragmented and dominated by numerous small-scale farm holders, which account for over 80% of local production, while established plantations account for less than 20% of the total market.
  • How much palm oil is produced in the Niger Delta?
  • The Niger Delta‟s 9 states account for about 57% of total Nigerian palm oil production.
  • Does Nigeria have a supply gap for palm oil?
  • To meet the supply gap of palm oil, the country had to depend on importation over the years. However, in 2015, the CBN published a list of 41 items, including palm oil, as ineligible for forex through the Nigerian interbank market to encourage local production and manage foreign reserves.
  • Why is oil palm production slow in Nigeria?
  • This slow pace of production due to weather fluctuations coupled with myriads of other lurking challenges, ranging from poor input supply to insufficient investment in the country’s agriculture sector, continue to affect Nigeria’s production capacity and the country’s potential to dominate the oil palm market globally.