Senate urges FG to revive NIFOR, increase investment in oil palm

The Senate has said that if the federal government is desirous of diversifying the economy, it should harness the full potentials of the oil palm industry and to as a matter of urgency revive the moribund Nigerian Institute for Oil Palm Research (NIFOR) located in Benin, Edo state.

It as well urged the government to accelerate its policies on diversification of the economy and support improved production of palm oil to meet not only domestic needs of the market, but also increase export in order to improve forex earnings.

These resolutions followed debate on a motion on the urgent need to revive the palm oil industry in Nigeria sponsored by Senator Onyewuchi Francis (APC/Imo East) and supported by 15 other senators during plenary on Tuesday.

The Senate expressed concern that “if Nigeria refuses to harness the full potentials of the oil palm industry as an economic opportunity, it will continue to fall behind other global economies.”

While noting the importance of oil palm, the Senate said the commodity continues to be in high demand in Nigeria and beyond, stressing that the current domestic production stands at 970, 000 metric tonnes per annum, just as the demand is put at 2.7 million metric tonnes yearly.

The Senate said that it is worried that Nigeria spends $500 million on oil palm importation annually despite being the largest producer and exporter of the product in the 50’s and 60’s.

“Nigeria is now the net importer of palm oil, importing 400, 000 to 600, 000 metric tonnes of palm oil in order to meet its local demand. This is indefensible, since she has the right weather and soil conditions suited for the growth of oil palm,” Sen. Onyewuchi said.

Also, the Senate recalled that as far back as 1964, the government established NIFOR as a flagship research institute to expand the frontiers of research and practice in oil palm production and utilization.

It also noted that the Micheal Okpara administration of the defunct Eastern Region invested in the Adapalm Plantation and Oil Mills which was sustained by the Sam Mbakwe administration in Imo state.

The Senate sadly noted that today, these two economic initiatives are in comatose despite huge potentials to state and the country at large.

The senators said that the discovery of crude oil in commercial quantity paved the way for the gradual neglect of agriculture by successive governments and that palm oil production has fallen to a meagre 1.7 per cent, which is inadequate for local consumption.