Palm Oil: Senate Calls For Improved Production, Revamp Of NIFOR - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
September 25, 2019
The Senate has called on the Federal Government tosupport improved production of palm oil to meet domestic need of the market andincrease exports for forex exchange earnings.
It also called on the Federal Government to revivethe moribund Nigeria Institute of Oil Palm Research NIFOR in Benin to improveinvestment in research and production of quality oil palm seeds in the country.
This followed a motion sponsored by OnyewuchiEzenwa, and co-sponsored by other 15 senators on the urgent need to revive thepalm oil industry in Nigeria at the plenary.
Moving the motion, Ezenwa said it was worrisome thatNigeria spent 500 million dollars on oil palm importation annually in spite ofbeing the largest producer and exporter of the product in the 50s and 60s.
He said that Nigeria was now the net importer of palmoil, importing between 400,000 to 600,000 metric tonnes to meet its localdemand.
He stressed that it was indefensible for Nigeria tobe importing, given the presence of a suitable weather and good soil conditionsfor the growth of palm oil.