Quality20:
banning it will only increase d price of oil to abt 1k a bottle. Our ppl are not producing enough jare

Agreed! local production is not enough to meet demand by about 1 million metric tonnes.

The high price is inevitable at the beginning, but think about the benefits that would come if we are able to standardise production and become exporters.

http://punchng.com/malaysia-importers-move-against-nigerias-palm-oil-market/

For Nigeria to import palm oil simply means that we don't produce enough to Carter to our consumption need. The thing is Nigerians re very greedy and if not for imported palm oil we would still be buying a bottle for 700naira by now. It was this greed that made some folks to go importing palm oil cos of the supposed high returns which lead to flooding in the market and crashed the price of the product. So before they ban the importation of palm oil how do they intend to stop people from hoarding local oil and creating artificial scarcity.

Na every day we dey ban things?

mamachildren:
My country Nigeria

I was working in the power industry I lost the job after privatization of the industry

I invested in Palm oil my government allowed importation of palm oil from Malaysia.
I made so much loses after everything my government want to ban palm oil from coming into Nigeria. Okay ooooo I will keep going, no giving up.

So sorry to learn about this. Sending you some strength. I hope it works out for you, soon.

headhunter1:
[s][/s]
trash trash trash

What is trash in that comment? Are you alright?

kennygee:
Wait, we import palm oil?

I am not understanding.

Mostly, to the northern region. I wonder why the palm oil is allowed but not rice.

Authoreety:
But why should nigerians import palm kernel into the country? Honestly its absurd....


Ds one baffle me o... abi na d imported one be original again?

U GET F.A.R.M??

Deseo:
Wait fess.
So naija has been importing palm oil?
Heeey!!!!

BAE U CAN SPEAK BROKEN.

I live @NIFOR and this place is bullshit, they are currently on strike, i'll up date pics soon

Nigeria consumes 1.4 million metric tons of palm oil per annum. Out of this amount, 80 percent is used for industrial purposes.

Nigeria's annual palmoil production capacity is about eight hundred thousand metric tons, leaving us with a shortfall of about 1 million metric tons, hence, the need for importation to bridge the shortfall. Local capacity does not meet up with demand leading to imports... harsh truth.

Companies import because imported oil is of a better quality and more than 20% cheaper than locally produced ones.


National Assembly may mean well but they are out of touch with reality. It is foolhardy to ban the importation of any item that one does not have sufficient local capacity in.

Sources

1) http:///2Bv8IR5
2) https://www.statista.com/statistics/489451/palm-oil-consumption-nigeria/
3) http://punchng.com/malaysia-importers-move-against-nigerias-palm-oil-market/

they should not ban it ooo

kennygee:
Wait, we import palm oil?

I am not understanding.

Yeah. Not just palm oil but even the kernels too and they are all from Malaysia and the useless Malaysians turn to frustrate Nigerians living in their country and turn them to economic slaves while the FG turns a blind eye

mamachildren:
My country Nigeria

I was working in the power industry I lost the job after privatization of the industry

I invested in Palm oil my government allowed importation of palm oil from Malaysia.
I made so much loses after everything my government want to ban palm oil from coming into Nigeria. Okay ooooo I will keep going, no giving up.

That's the spirit! Never give up!
God bless your hustle

lilyfaith:


Yeah. Not just palm oil but even the kernels too and they are all from Malaysia and the useless Malaysians turn to frustrate Nigerians living in their country and turn them to economic slaves while the FG turns a blind eye

Ewooo! It's not today that these our leaders have sold our future to foreigners o

Nigeria palm oil production is not enough to cater for the industries need. How many tons of palm oil do we produce in a day.
Government should first stabilize palm oil production in a large scale before thinking of banning other wise many industries will be affected which will translate to job lost again.

[quote author=headhunter1 post=65061507][s][/s] trash trash trash [/quote why trash hunting head

kennygee:
Wait, we import palm oil?

I am not understanding.

yes we do. but the Senate should know that palm kernel has its season. what happens when we are off season? do we have a storage facilities to keep the palm kernel which it's used to produce oil? I am talking from experience as a stakeholder in Palm oil business

Authoreety:
But why should nigerians import palm kernel into the country? Honestly its absurd....


Ds one baffle me o... abi na d imported one be original again?

all I know is the kernel is brought in from Ghana, Togo and Benin during the off season in Nigeria. they are both the same in quality

Empredboy:
all I know is the kernel is brought in from Ghana, Togo and Benin during the off season in Nigeria. they are both the same in quality

Like seriously?

So dey de import red oyel come naija; chai,

Authoreety:



Like seriously?

I am a clearing agent and I have been doing this palm kernel thing for a very long time .
do we have a storage facilities? if it's banned enough of smuggling will start on palm oil and kernel and our government will lose on duty payable. do you know how much our government is lossing on duty payable if rice and Tokunbo cars were not banned?

QuitNotice:
So dey de import red oyel come naija; chai,

why are people seeing it as if we have enough oil in Nigeria. the ones we have can satisfy our local demand so government should encourage farmers to produce more before thinking of banning else the government will lose just as they lost in Tokunbo cars and Rice revenue generation

slowice:
For Nigeria to import palm oil simply means that we don't produce enough to Carter to our consumption need. The thing is Nigerians re very greedy and if not for imported palm oil we would still be buying a bottle for 700naira by now. It was this greed that made some folks to go importing palm oil cos of the supposed high returns which lead to flooding in the market and crashed the price of the product. So before they ban the importation of palm oil how do they intend to stop people from hoarding local oil and creating artificial scarcity.

- Cost of producing local good is too high
- It is extremely difficult for a biz to survive in Naija hostile environment.
- It is cheaper to import and avoid too much wahala (change in govt policy, multiple taxation from states, agbero and others etc)
- It is same for most sectors in the country.Landing cost of a ton of maize for Olam group to Nigeria from India is N40,000.00 while a ton of maize from our local farmers is btwn 120k and 150k during harvest period.
- Anyone can afford to even pay bribe of 40k/ton to officials still with a landing cost of 80k per ton.

- The solution is to create a conducive environment for business to survive and produce at a cheaper cost.

T. A Orji should shut his trap. As former governor of Abia, didn't he hand over Abians palm Adda farm to Italians. To date no single oil that we know of has been produced from there, infact rumor has it that the the Italians have vandalized the whole place... and he is here talking about funds.. ole, dwarf thief

kennygee:
Wait, we import palm oil?

I am not understanding.

We import toothpick, clay and plywood...................Palm oil na advanced technology.

GOOD DAY NAIRALANDERS.I M STILL HERE...DONT GIVE UP ON ME YET. https://www.nairaland.com/4312232/husbanda-good-man-help#64524181

Restructuring is the only solution. every state or region will be forced to look inward...but awusa said no.

Wawaman:
banning is not the solution. yes my wife deal in Palm oil retail. the question is while should we buy Palm oil imported from Malaysia and snuggled through Benin plus the transportation cost for #9200 for 25liters keg . while the one locally produced in Nigeria is going for #11000. Govt should investigate while imported goods are cheaper than locally produce goods.

Exactly! Banning is not the solution. The reality is that it's more expensive to produce palm oil in Nigeria. People laugh, but when you consider bad roads, expensive transportation, inefficient agricultural practices, expensive industrial processing, you'll understand how palm oil will be more expensive when produced here. It's a result of the difficulty in doing business.

Fix the issue, not the symptoms. We ban, ban, ban, yet won't do the simple thing of making inputs and electricity more available for turning kernels into oil. We won't make it easier or subsidize imported machinery, but we'll ban end-products.

Trade protection works in serious places where you have a holistic approach to the solution. All that will happen with a ban is: those who import openly will become smugglers, police and customs will add to the cost of business, and palm oil will become more expensive.

This is absurd. I can't believe it, Nigeria importing palm oil, no wonder our naira is weak.

maxiuc:


Curtail DStv activities upe

Deal with all these Telecom providers mba

Reduce your wages no way

Make law that Will benefit ordinary people no

That senator that is saying this has share in Okomu oil industry

Before banning the importation what are they measures put in place to sustain before we start processing it commercially

All this mumu APC senators and dulardinho president that stupidly ban the importation of rice without measures to harness the locals to produce in commercial quantity thereby making rice today so expensive to buy same thing gonna repeat itself in this palm oil case

For the Afonjas no More oil soup oooo

Am looking to see what bubu and his APC cohorts are smoking over there

Consider yourself as an investor, will u invest in a produce that has foreign competition? No one will ever go into production of any produce that it's market is saturated. Banning importation will create demand, as local investors increased the price will crash or normalised. The problem with us is that we are not ready to make sacrifice. Those developed countries had sacrificed in the past, their offspring is now enjoying the proceeds of their sacrifice.
I once heard one Indian president asked the citizens if they wanted to ride motor cars, they said yes, he then asked them to go and manufacture theirs, he placed total ban on automobiles. Today India manufacture automobiles.