General news

Nigeria generates $150m from coconut oil

Published

on

By Nefishetu Yakubu

Agriculture and Rural Development Minister Sabo Nanono said Nigeria generated $ 150 million from the export of coconut oil and its derivatives in 2020.

Nanono said this on Wednesday during the training of coconut producers organized by the Federal Ministry of Agriculture and Rural Development (FEMARD) in collaboration with the Nigerian Institute for Oil Palm Research (NIFOR) in Benin. .

The Minister, represented by Mr. Bernard Ukattah, Deputy Director of FEMARD, said that coconut was one of the main sources of non-oil foreign exchange for Nigeria.

He explained that the coconut provided livelihoods for more than 500,000 families, mainly women and young people in the country.

Nanono noted that coconut made up 10% of the country’s agricultural exports, adding that it is expected to generate more than $ 250 million by 2021.

“Due to the awareness of its value and extent of use, Nigeria has, in recent times, increased the volume of coconut production to an average of 250,000 metric tons per year.

“In 2016 Nigeria produced 283,774 metric tonnes and demand for the crop has increased, reaching over 500 percent in the past decade.

“Available data shows that coconut is grown in 22 states across the country, with Lagos being the largest producer.

“Other major producing states include Ogun, Ondo State, Edo, Delta, Akwa-Ibom, Rivers, Cross Rivers, Imo and Benue, among others,” he said.

According to Nanono, President Muhammadu Buhari is committed to reorganizing the agricultural sector by supporting farmers and empowering women and youth through capacity building.

Also speaking, NIFOR Acting Executive Director Dr Celestin Ikuenobe said coconut was an exotic crop that was not developed in the state like oil palm.

Ikuenobe said, “I am happy that the ministry is trying to develop coconut as it is a very important tree crop in Nigeria.

“Our job here is to research the crops and come up with the best varieties for maximum yield.

“Oil palm is our main crop, coconut, date palm, raffia and shell all arrived later in 1964”.

According to him, NIFOR is researching very important crops in Nigeria in order to create wealth for the country and create opportunities for people to invest in these crops for a living.

Mr. Kelvin Uwaibi, head of Edo’s investment promotion office, said coconut has shown potential benefits in the value chain.

“Coconut production is a new area that has shown significant benefits for farmers who want to get started.

“This is a new area that interests us a lot because it has shown potential in the tree crops value chain.

“For us, coconut has been innovative because it can put food on the table and grow the economy.

“We’re here because we want to work with different stakeholders to look at the opportunities for coconut.

“As you already know, commercially we are already promoting palm oil and rubber in the state, so coconut is also something that interests us,” Uwaibi said. (NOPE)

(NAN)

Short Link: https://wp.me/pcj2iU-3yFS

NNN

NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Police arrest suspected murderer of 29-year-old man in Ebonyi Kebbi to 10,000 loan seekers AGMIES – Official Chief Justice Delta inaugurates Abraka’s Judicial Division PSDC provides motorized water bodies to remote communities in Kebbi NPA appoints 4 CEOs, 8 AGMs – Official Gunmen kill Amotekun’s body in Oyo NGX indices increase by 0.29% on GTBank and Lafarge Africa rally Senate holds minute’s silence for Bode Olowoporoku We did our best to save Nigeria from insecurity – Ex CDS, Olonisakin Bauchi halts wages of 715 suspected ghost workers – SSG Governor Oyetola inaugurates committee on mining pollution Kwara launches 500 hectare youth farm program Group worries about rising wave of insecurity in southeast Ministry partners with media to control spread of tuberculosis Insecurity: the IGP promises reinforced synergy with the army SFOC instructs Senate with appropriate funding for Nigerian military NEITI and ICPC form joint cooperation on anti-corruption issues in the extractive sector Senate approves Buhari’s $ 1.5 billion and € 995 million external loan requests Customs generates 38.8 billion naira at Onne in the first quarter – Controller Violence against children recedes in development – rights activist IT company offers week-long coding program for kids DR Congo: armed violence in Tanganyika deprives people of health care AU offers industrial-scale agro-processing to boost trade Lagos CARES will support 125,058 inhabitants in 2 years Nigerian Martine Security Trust Fund Bill Gets Second Reading FG inaugurates national gender committee to bridge gender gap International conference on the food security storage system in West Africa: ECOWAS will build a multilateral partnership around its experience COVID-19: DPR recommends rapid antigen diagnostic tests for offshore workers UNICEF hands over cold chain vehicles and equipment to the Expanded Program on Immunization (EPI) of the Ministry of Health and Sanitation Somalia implements innovative project to improve psychosocial support and mental health care for conflict-affected youth through integrated and inclusive approach to peacebuilding COVID-19: UNFPA supports Gombe State with PPE Somalia braces for record levels of displacement as drought sets in US government provides medical supplies to fight COVID-19 pandemic in Zanzibar WHO Regional Director for Africa concludes visit to Ethiopia FIS partners with Flutterwave Coronavirus – Ethiopia: COVID-19 update (April 20, 2021) Senate approves N1.678trn revenue target for NCS Coronavirus – Malawi: COVID-19 update (April 20, 2021) CAF: NPFL Forum congratulates Ikpeazu and NFF for Enyimba’s charter flight agreement Coronavirus – Kenya: COVID-19 update (April 20, 2021) Coronavirus – Eritrea: Ministry of Health announcement (April 20, 2021) Coronavirus – Namibia: COVID-19 update (April 20, 2021) Coronavirus – Gambia: COVID-19 update (April 20, 2021) African air ministers adopt common position on international travel Coronavirus – Rwanda: COVID-19 update (April 20, 2021) Coronavirus – Zambia: COVID-19 update (April 20, 2021) Coronavirus – Nigeria: COVID-19 update (April 20, 2021) Coronavirus – South Africa: COVID-19 update (April 20, 2021) China administers more than 200 million doses of COVID-19 vaccine AIMS and Baden-Württemberg International (BW_i) organize a virtual conference on digitization and health