The High Commissioner of Malaysia to Nigeria, Mr. Aiyub Omar, has revealed that the growing palm oil trade between both countries has strengthened diplomatic and economic relations, with trade volume reaching $600 million in 2024.
Speaking to journalists in Abuja, Omar noted that palm oil accounts for nearly 50 percent of Malaysia’s total exports to Nigeria, underscoring the sector’s role in deepening agricultural cooperation and attracting foreign investment to Nigeria’s agribusiness space.
He emphasized that the success of the palm oil trade reflects a shared commitment to agricultural development, particularly in enhancing productivity and efficiency in cultivation and processing.
“In 2024 alone, Malaysia’s palm oil exports to Nigeria were valued at around 600 million dollars. This growth is not only boosting trade but also encouraging more foreign investors to explore Nigeria’s agricultural potential,” Omar stated.
The envoy also highlighted the presence of a Malaysian business community in Nigeria, noting that about 50 Malaysians currently reside in the country, primarily in Lagos and Calabar. Many, he said, are actively involved in managing palm oil plantations and other agri-business ventures.
Recalling his visit to Calabar in May 2025, Omar said he met with members of the Malaysian diaspora who continue to contribute significantly to Nigeria’s palm oil value chain.
He added that the Malaysian High Commission is committed to encouraging broader agricultural partnerships beyond palm oil, with a view to attracting more foreign direct investment into Nigeria’s agricultural sector.
“With rising global demand for palm oil, we see vast opportunities for expansion and diversification that will benefit both countries. Malaysia remains ready to collaborate further with Nigeria in unlocking its full agricultural potential,” he said.
Omar reaffirmed Malaysia’s commitment to building sustainable trade relations with Nigeria, with agriculture remaining a key pillar in ongoing bilateral cooperation.
