The Senate has called on the Federal Government to support improved production of palm oil to meet domestic need of the market and increase exports for forex exchange earnings.
It also called on the Federal Government to revive the moribund Nigeria Institute of Oil Palm Research NIFOR in Benin to improve investment in research and production of quality oil palm seeds in the country.
This followed a motion sponsored by Onyewuchi Ezenwa, and co-sponsored by other 15 senators on the urgent need to revive the palm oil industry in Nigeria at the plenary.
Moving the motion, Ezenwa said it was worrisome that Nigeria spent 500 million dollars on oil palm importation annually in spite of being the largest producer and exporter of the product in the 50s and 60s.
He said that Nigeria was now the net importer of palm oil, importing between 400,000 to 600,000 metric tonnes to meet its local demand.
He stressed that it was indefensible for Nigeria to be importing, given the presence of a suitable weather and good soil conditions for the growth of palm oil.
