Nigeria is setting an ambitious course to reclaim its lost dominance in the global oil palm market, with plans to lift two million people out of poverty and capture at least 10 percent of global market share within the next six years.

This was disclosed by the Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Sabi Abdullahi, during the validation meeting of the Nigerian Oil Palm Development Strategy held at the Shehu Musa Yar’Adua Centre in Abuja on Thursday.

Abdullahi described the oil palm sector as a critical driver of agribusiness growth, industrial development, and export diversification, noting that revitalising the value chain could significantly reduce Nigeria’s dependence on imported edible oils while boosting rural incomes.

“Oil palm is not just a crop, it is a major industrial raw material that links agriculture to manufacturing. If properly harnessed, it can drive job creation, support smallholder farmers, and strengthen Nigeria’s agro-industrial base,” he said.

Once a global leader in palm oil production, Nigeria has fallen behind countries such as Indonesia and Malaysia due to years of low productivity, weak processing systems, inadequate financing, and poor coordination across the value chain.

The Minister, however, expressed confidence that the country can regain its position given its favourable climate, vast arable land, and strong domestic demand.

The new strategy, developed by a multi-stakeholder Technical Working Group inaugurated in 2024, seeks to address these structural challenges through a coordinated national approach.

Key priorities include improving access to high-yielding and climate-resilient seedlings, strengthening extension services, expanding access to finance, and modernising processing infrastructure.

A major focus of the plan is the inclusion of smallholder farmers, who account for the bulk of production in Nigeria’s oil palm sector. The government aims to empower them with improved inputs, training, aggregation systems, and better market access to ensure inclusive growth.

The strategy also emphasises investment in modern processing technologies to reduce post-harvest losses and improve oil extraction rates, while strengthening value addition across industries such as food processing, cosmetics, pharmaceuticals, and animal feed.

Permanent Secretary of the Ministry, Dr. Marcus Ogunbiyi, said the strategy reflects extensive consultations with key stakeholders, including research institutions, commodity associations, and private sector players.

He noted that the initiative aligns with the Federal Government’s Renewed Hope Agenda, which prioritises food security and economic diversification.

“The development of a clear and actionable oil palm strategy is both timely and necessary as we position Nigeria for global competitiveness in the sector,” Ogunbiyi said.

He commended the contributions of major industry groups such as the Plantation Owners Forum of Nigeria (POFON), Oil Palm Growers Association of Nigeria (OPGAN), and the Nigerian Institute for Oil Palm Research (NIFOR), among others, for their technical input in shaping the document.

Stakeholders at the meeting stressed that successful implementation would depend on strong collaboration between government, private investors, development partners, and financial institutions.

The minister underscored the need for increased private sector participation, noting that government alone cannot fund the scale of transformation required.

Sustainability and environmental responsibility were also highlighted as central to Nigeria’s competitiveness in the global palm oil market, with a focus on climate-smart practices, traceability, and responsible land use.

In a move to strengthen international cooperation, Nigeria has also joined the Council of Palm Oil Producing Countries (CPOPC) as an observer, positioning itself to benefit from global best practices and strategic partnerships.

Director of Planning and Policy Coordination at the ministry, Ibrahim Tanimu, said the validation meeting marks a critical milestone but emphasised that the real test lies in implementation.

“The true value of this strategy will not be in its adoption, but in how effectively it is executed to benefit farmers, processors, investors, and the broader economy,” he said.

Copyright © 2026 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).