Alphonsus Inyang, NPPAN’s national president, stated this in an interview on Tuesday in Abuja.
He described the expenses as unhealthy for national development.
Mr Inyang said the amount could be saved and injected into the economy if successive governments paid due attention to the palm oil subsector.
The president said Nigeria, which was once self-sufficient in palm oil production, now spends a huge amount on imports of the same product.
Mr Inyang said in the 1960s, Nigeria was number one in palm oil production and exportation globally, controlling over 60 per cent of world palm oil.
He said the reverse was currently the case, as over 50 per cent of what “we consume are imported.”
Mr Inyang said the country is fifth among palm oil-producing countries after Indonesia, Malaysia, Thailand, and Colombia.
According to him, Nigeria may lose its position to smaller countries investing heavily in the sector.
He said Indonesia occupies the first position, producing 50 million metric tons, Malaysia second with 19 million metric tons, Thailand 3.28 million and Colombia 1.9 million metric tons.
The president attributed the challenge to successive governments’ neglect of the sector.
Mr Inyang said that, according to the U.S. Department of Agriculture, Nigeria currently occupies fifth place in the league of palm oil-producing countries, with 1.5 per cent, or 1.4 million metric tons, of the world’s total output.
“Nigeria was overthrown as the world’s largest palm oil producer and exporter by Malaysia and Indonesia in 1966. Currently, Nigeria is the largest consumer of the product in the continent, consuming approximately three million metric tons yearly.
“Domestic production stands at less than 1.4 million metric tons, leaving a deficit of over 1.6 million metric tons,’’ he said.
Mr Inyang urged the government, specifically the Federal Ministry of Agriculture and Food Security, to support NPPAN members with seedlings to develop 250,000 hectares yearly.
“Our members can plant up to 250,000 hectares per year through the association’s National Oil Palm Strategy Development Plan. All we want are inputs,” he explained. “The government does not need to give and develop land for us. We need seedlings, fertilisers, logistics and implements to close this gap within four years. We will also create new millionaires in 28 states of the federation.”
Credit: NAN
