Nigeria Realises $150m From Coconut Oil In 2020

Nigeria realised a total of $150m from the export of coconut oil and its derivatives in 2020, according to the Minister of Agriculture and Rural Development, Sabo Nanono.

Nanono disclosed this on Wednesday during a training for coconut farmers organised in collaboration with the Nigerian Institute for Oil Palm Research in Benin, Edo State, Southern part of the country.

The Minister, represented by a deputy director at the Federal Ministry of Agriculture and Rural Development, Bernard Ukattah, said that coconut was a major non-oil export foreign exchange earner for Nigeria.

According to him, coconut accounts for 10 per cent of the nation’s agricultural exports and provided livelihood for over 500,000 families in the country. He added that the produce is expected to generate about $250m this year.

Nigeria Realises $150m From Coconut Oil In 2020

Nanono, “As a result of the awareness of its value and degree of uses, Nigeria has in recent times increased the volume of production of coconut to average of 250,000 metric tons per annum.

“In 2016, Nigeria produced 283,774 metric tons and the demand for the crop has been on the increase growing upwards to over 500 per cent in the last decade.

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

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
%d bloggers like this:
Close Bitnami banner