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Tag: Palm Oil

Food

Malaysia pledges support to bridge Nigeria palm oil deficit

The Malaysian Palm Oil Council has pledged to support Nigeria with technical expertise, research collaboration and investment opportunities to help close the country’s estimated one million metric-tonnes palm oil supply gap. The council also announced the establishment of a representative office in Lagos as part of efforts to deepen engagement with stakeholders across Nigeria’s palm […]

Okomu Oil Palm reports N32.9bn pre-tax profit in 2023
Food

LASCOPA raises alarm over adulterated palm oil in Lagos markets

The Lagos State Consumer Protection Agency has raised concerns over the circulation of adulterated palm oil in Lagos markets following reports of contaminated products being sold to consumers. The agency, in a statement posted on Lagos State Government’s official X handle, said market surveillance and consumer complaints uncovered the sale of artificially enhanced palm oil […]

World

Nigeria targets 10% global palm oil share in six years

Nigeria has unveiled an ambitious plan to reposition the oil palm industry as a major economic driver, targeting a 10 per cent share of the global market and lifting about two million citizens out of poverty within six years. Aliyu Sabi Abdullahi, minister of state, Federal Ministry of Agriculture and Food Security, stated this in […]

Business

Palm oil drove 20.7% surge in Malaysia’s 2025 exports to Nigeria

Malaysia’s exports to Nigeria increased by 20.7 per cent in 2025, reaching a total value of $664 million. This rise reflects growing bilateral economic relations and deeper engagement between the two countries amid global trade uncertainties. The export growth was mainly driven by a 33.7 per cent rise in palm oil and palm oil-based agricultural […]

Nigeria's palm oil imports from Malaysia rose by 65.3% - Report
Business

Nigeria records 1.57m tonnes of palm oil production in 2025

Nigeria’s palm oil production reached 1.57 million tonnes in 2025, marking steady growth over the past five years. The data was revealed by the Council of Palm Oil Producing Countries during a mission to Abuja, according to the News Agency of Nigeria. During the visit, the council reiterated its commitment to deepen technical and policy […]

Agribusiness

Presco gets $100m FDI to boost Edo palm oil production

Edo State will receive a $100 million foreign direct investment as Belgian agro-industrial group SIAT NV injects fresh capital into Nigerian palm oil producer Presco Plc, part of a longer-term $1 billion commitment to expand operations in the country over the next decade. The funds, which constitute the first tranche of the wider investment program, […]

Agribusiness

Ellah Lakes to expand palm oil operations with ARPN acquisition

Ellah Lakes Plc has entered into an agreement to acquire the shareholding of Agro-Allied Resources & Processing Nigeria Limited from ARPN PTE Limited, Singapore, aligning with its goal to deepen its operational footprint, scale efficiencies, and drive national food security impact. The transaction encompasses the acquisition of 100 per cent of ARPN’s shareholding and is […]

Business

Palm oil prices soars as US sets record biofuel target

Palm oil prices climbed past 4,000 ringgit, tracking gains in soyoil after the United States proposed a record 24.02 billion-gallon biofuel blending mandate for 2026—nearly eight per cent above 2025 levels. The U.S. Environmental Protection Agency on Friday unveiled a long-anticipated plan to increase domestic biofuel production and reduce reliance on imports, according to Bloomberg. […]

Investment

Anambra targets N160bn revenue from oil investment

The Anambra State Government has begun importing one million palm oil seedlings and one million coconuts from Malaysia, in order to make N160 billion annual revenue.   The News Agency of Nigeria reported that the Deputy Governor, Onyekachi Ibezim, disclosed this while inaugurating the 2023 farming season at Alex Ekwueme Square Awka.   Ibezim, who […]

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