Nigeria may soon witness a turnaround in its once booming palm oil industry as Akwa Ibom State, plans to inject ₦31 billion ($20.2 million) into the industry in 2026 to boost yields and expand cultivation.
The Akwa Ibom State Governor, Mr. Umo Eno said the funds will be used to supply high-yield seedlings to farmers, extend plantation areas, and deploy extension workers to support growers.
The plan also includes creating a state palm oil council and coordinating the marketing of output from local producers, according to local media outlet Independent.
“We are preparing for next year’s budget. We intend to allocate 1 billion naira per local government, along with other funds that will be channeled to the Ministry of Humanitarian Affairs,” Eno said.
The initiative is part of efforts to strengthen the state’s role in Nigeria’s palm oil industry and aligns with the National Palm Oil Development Strategy unveiled by the Oil Palm Growers Association of Nigeria (OPGAN) earlier this year.
That five-year roadmap targets the replanting of 1.5 million hectares of palm trees across 27 producing states by 2030.
Despite being Africa’s top producer, Nigeria still imports around 25 per cent of its palm oil needs to meet annual consumption of nearly 2 million tons.
The Akwa Ibom project is expected to reduce import reliance while supporting economic growth in the Niger Delta region.
