Nigeria Can Earn $20bn Yearly From Oil Palm Production – Obaseki

Obaseki

The Edo State Governor, Mr. Godwin Obaseki has maintained that Nigeria can earn up $20 billion annually from the production of palm oil.

Obaseki reiterated this while speaking to journalists in the state capital – Benin. He also stated the need to diversify the economy by harnessing other option, most especially in the area of oil palm production with high return on investment.

The governor held that his government was investing hugely in the agricultural sector to boost the state’s economy, tackle food insecurity and create wealth for Edo citizens.

Edo State has one of the largest palm tree plantations after Akwa Ibom state in Nigeria. It has over 118,264 hectares of land used for palm tree plantation.

Report has it that, Edo State is one of the states in Nigeria with best palm oil production.

Other top palm oil producing states in Nigeria include; Ondo, Imo, Cross River, Delta, Enugu, Bayelsa, Abia and Rivers State.

Nigeria is the largest producer of palm oil in Africa and fifth largest in the world.