Nigeria to increase palm oil production 700 Percent to 5m tonnes by Year 2027

Nigeria to increase palm oil production 700% to 5m tonnes by Year 2027
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Nigeria has made bold steps towards becoming self-sufficient in edible oil production as it objective is to increase palm production by 700% to 5 million tonnes by the year 2027.

The Nigerian government recently implemented a new policy that will invest some US$500 million in expanding palm oil production in the Nigerian economy and also encourage investment by offering low-interest loans to farmers for oil palm cultivation and erecting barriers on crude palm oil imports.

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