Edo State, long regarded as Nigeria’s palm oil heartland is once again taking centre stage in efforts to revive the nation’s palm oil industry, as stakeholders unveil an ambitious five-year development strategy.
The state is home to two of Nigeria’s largest agro-industrial giants Okomu Oil and Presco both listed on the Nigerian Stock Exchange.
Despite prevailing macroeconomic challenges, the companies recorded their highest-ever after-tax profits in 2024, reinforcing Edo’s central role in the palm oil value chain.
Spearheading the sector’s revival is the Oil Palm Growers Association of Nigeria (OPGAN), which has launched the Oil Palm Development Strategy for Nigeria (2024–2029).
The strategy outlines a bold vision to replant 1.5 million hectares of oil palm, with the ultimate goal of moving Nigeria from its current position as the world’s fifth-largest producer to third place.
More than just a numbers game, the plan represents a comprehensive roadmap to modernize the sector through sustainable ecological practices, inclusive growth models, improved planning, and private-sector investment.
It also marks the first time an industry-led strategy is being crafted specifically to address the unique needs and opportunities within Nigeria’s oil palm ecosystem.
According to OPGAN, this initiative is not only about increasing production but about building a resilient, environmentally conscious, and globally competitive industry.
As global palm oil dynamics continue to shift with major producers like Indonesia raising export taxes and retooling supply chains Nigeria’s new strategy could provide the long-needed structure to transform its fragmented industry into a modern, job-creating, revenue-boosting powerhouse.
