Nigeria: Comparing Nigeria's Palm Oil Production With Malaysia, Indonesia, Thailand Not Fair - Nifor ED
RBD Palm Oil
Nigeria
Published Oct 4, 2020
Tridge summary
The Nigerian Institute for Oil palm Research (NIFOR), established in 1939, is saddled with the mandate to conduct research into the production, products of oil palm and other palms of economic importance with the aim of transferring its research findings to the public.
Original content
Celestine Ikuenobe, acting executive director of NIFOR, in this interview with PREMIUM TIMES believes that the continuous dwindling of Nigeria's palm oil production could be attributed to low rates of planting high yielding seedlings and land tenure systems when compared with major competing countries like Indonesia, Malaysia, and Thailand. He said sometimes, those comparisons are not fair because the socio-economic conditions of Nigeria are very different from theirs. In 1965, the World Bank injected nearly $2 billion into over 45 projects in Southeast Asia, Africa, and parts of Latin America to support the growth of the palm oil industry. Indonesia received $618.8 million, which was the highest. Nigeria received the second highest funding of $451.5 million followed by Malaysia with $383.5 million in project funding. From 1975 to 2009, Nigeria remained the second largest recipient of funding from the apex bank for palm oil investments with six projects. However, only one project ...
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