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‘Smuggling of palm oil killing local production’

Crude oil is a myth - Palm oil

The smuggling of palm oil into Nigeria is killing local production, the National Palm Produce Association of Nigeria (NPPAN) has said.

NPPAN raised the alarm over what it referred to as “downward slide in price of Crude Palm Oil (CPO) and local demand” despite its huge investments.

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The association raised the alarm in a letter jointly signed by Mr. Dele Olanubi, NPPAN Ambassador; Mr. Bolarinwa Adetula, Chairman Ondo chapter; and Chief Abiodun Adejo, Oyo State Coordinator.

In the letter addressed to President Muhammadu Buhari and entitled: “SOS to the Federal Government on Illegal Entry of Crude Palm Oil (CPO) into Nigeria”, NPPAN hinged the problem on illegal entry of CPO into Nigeria.

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It complained about seamless corruption at the borders, saying such had allowed smuggled palm oil into the country at the detriment of huge local investments.

“Many of us who heeded calls by the Federal Government in the last three years for private intervention in the oil palm industry are at the risk of losing billions invested in the sector.

“Virtually all of our businesses are at the verge of collapse because of unbridled corruption culminating in smuggled palm oil into Nigeria due to porous borders.

“The jobs of millions of Nigerians are at stake if immediate positive steps are not taken to stop illegal entry of Crude Palm Oil (CPO) to Nigeria before it is too late,” the letter read in part.

NPPAN further said Nigeria was currently losing more than $500m worth of palm oil annually owing to worsening situation in the industry affecting local production.

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