CBN eyes $10b revenue from palm oil - The Nation Nigeria

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CBN eyes $10b revenue from palm oil - The Nation Nigeria
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CBN eyes $10b revenue from palm oil

An ambitious plan, which is expected to lift Nigeria to the world’s third-largest palm oil producer, was announced yesterday by the Central Bank of Nigeria .Addressing stakeholders in the palm oil industry in Abuja yesterday, CBN Governor Godwin Emefiele stated: “Our ultimate vision is to overtake Thailand and Columbia to become the 3rd largest producer over the next few years.”

“This analysis does not take into consideration the amount of jobs that could have been created in our rural communities from large scale smallholder developments.

“We will also work to encourage viable off taker agreements between farmers and large-scale palm producing companies.

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