Six decades ago, Nigeria was a global leader in oil palm production. However, the country’s palm oil industry has lost its competitive edge, and its global market share steeply declined — from 43% in the 1960s to less than 2% today. Even more concerning, Nigeria has shifted from being a top exporter to a net importer of palm oil. Thus, a $20 billion lost opportunity.
This report investigates the factors that have influenced the decline of the oil palm industry in Nigeria. It examines the systemic issues, management practices, and industry structures that contributed to the decline of this once-thriving export commodity. To develop this analysis, we conducted a preliminary literature review and gathered historical data on the Nigerian oil palm industry.
This report showcases a roadmap for revitalising Nigeria's oil palm sector with actionable insights and strategies drawn from successful practices in leading palm oil-producing countries. The report is a valuable report for ministries of agriculture, extension services, NGOs, investors, agribusinesses, and anyone involved in agricultural development projects looking to enter or expand within the oil palm industry.
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