Nigeria’s top palm oil makers’ profit to hit N161bn as prices climb

Nigeria’s two listed palm oil giants, will rise 38.8 percent year-on-year from N166.8 billion in 2024 to N231.5 billion in 2025, while profit after tax (PAT) is estimated to jump 36.8 percent to N161 billion. This bullish forecast is underpinned by expectations that global CPO prices will climb to $1,200 per metric tonne (MT) by the end of 2025, up from the current $900/MT. The price rally is being driven by supply disruptions, intensified biodiesel demand in Southeast Asia, and easing trade tensions between major economies like the U.S. and China. “With global supply tightening as Indonesia and Malaysia ramp up domestic biofuel mandates, Nigeria stands to benefit from elevated international prices and widening domestic supply gaps,” Afrinvest said in its 2025 Oil Palm Sector Update. In 2024, local palm oil prices surged 56.8 percent year-on-year to N420,906 per MT, reflecting the ripple effect of global price movements, naira devaluation, and imported input inflation. These ...