potentials in palm oil production maldives in nigeria

   
potentials in palm oil production maldives in nigeria
                                               
                                               
                                               
                                               
  • potentials in palm oil production maldives in nigeria
How much palm oil does Nigeria produce in 2021 & 2022?

According to the data, in 2021 and 2022, Nigeria¡¯s palm oil production averaged 1.4 million metric tonnes and 1.3 million MT in 2020. Despite the improvement in production, Nigeria has fallen from its position as world leader to the fifth largest producer, a spot it has stood for more than five years now.

Is Nigeria a good importer of oil palm?

After the free fall, Nigeria remains a net importer of the oil palm product with a production capacity of 930,000 MT from 2013 through 2014 coupled with a yearly domestic consumption level of 2.0 million MT amidst a deficit of 1,070,000 MT [2,5,32,18].

What if Nigeria kept its market dominance in the palm oil industry?

According to the Central Bank of Nigeria (CBN), if Nigeria had maintained its market dominance in the palm oil industry, the country would have been earning approximately $20 billion annually from cultivation and processing of palm oil as at today. To meet the supply gap of palm oil, the country had to depend on importation over the years.

Is oil palm production a risk factor in Nigeria?

With the risks associated with oil palm production and the potentials integral to it [33,34], very little work exists in the literature on the state of the sector in the Lower South region of Nigeria from a mix-scale perspective [35,36,37,38,39,40, 41].