Nigeria’s Palm Oil Sector Seeks Funding and Quality Seeds

Nigeria's palm oil industry faces challenges that require significant investment and high-quality seeds to drive growth. Alphonsus Inyang, President of the National Palm Produce Association of Nigeria (NPPAN), highlighted the need for international attention to address these issues.

Austine Gbenga Adeniba, COO of Eliakim Integrated Services Limited, emphasized that smallholder farmers in Nigeria could benefit from rising global demand if they improve efficiency, access affordable finance, and meet quality and sustainability standards.

Adeniba proposed a Smallholder Oil Palm Finance and Investment Facility, which would involve government agencies, the National Agricultural Development Fund, the Bank of Agriculture, and other stakeholders. The facility aims to provide long-term loans, seasonal working capital, and risk-sharing arrangements tailored to the oil palm production cycle.