bennynaza:
A very good move. But most crucial, the govt must try to support agro entrepreneurs like myself to expand our palm oil mills so as to produce enough to cater for the needs of the populace after the import ban.
I have an operational mill and willing labour but I lack the funds to push beyond the level I produce, even though I have the capacity.
Bank of industry... Zero
Commercial banks... Zero
Bank of Agriculture... Zero
They are all giving me collateral conditions which unfortunately, I can't meet.
Any investor in my mill can make a tidy profit from doing nothing other than raising me some reasonable capital.
08068021774

Sorry my person, the politicians are only diversifying to agric theoretical, no meaningful support towards agric 3 years after.
Am afraid of even taking agric loan, where you'll be expected to start paying back b4 u start to plant produce, not mentioning outrageous collateral, if I have property to secure a #5m loan, wouldn't I sell some portion of the property to take off, saving me the stress of licking one bank manager's ass.

globatop:


Sorry my person, the politicians are only diversifying to agric theoretical, no meaningful support towards agric 3 years after.
Am afraid of even taking agric loan, where you'll be expected to start paying back b4 u start to plant produce, not mentioning outrageous collateral, if I have property to secure a #5m loan, wouldn't I sell some portion of the property to take off, saving me the stress of licking one bank manager's ass.

they are just paying lip service to agriculture as alternate source of improving gdp. Bank of agriculture was asking me to provide landed property within the state capital. Which of course I don't possess

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.

I don't see how a high consumption of palm oil equals greed. It should translate to more people going into the business of making it. The trouble is, it's much much harder to take a grow a plantation, process it, and package the oil in Nigeria than most other places. Where do you get the can (metal or plastic), the cover, the kernel press, the industrial oven, the electricity? Transportation, storage, energy. These are much easier and cheaper to come by in Malaysia than in Nigeria, and the prices reflect that...

Naija...soon to be importing sunshine sef

deafeyez:


BAE U CAN SPEAK BROKEN.

Yes na, I'm a Nigerian.

kennygee:
Wait, we import palm oil?

I am not understanding.

We import Palm oil mainly for use in industries, not consumption.

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.

If you are oil dealer you should know that oil is #7500 per 25 liters keg while transportation is #900.

Imported oil is never cheaper than local made during season

We import oil? Palm oil?? Lmao

nextstep:


I don't see how a high consumption of palm oil equals greed. It should translate to more people going into the business of making it. The trouble is, it's much much harder to take a grow a plantation, process it, and package the oil in Nigeria than most other places. Where do you get the can (metal or plastic), the cover, the kernel press, the industrial oven, the electricity? Transportation, storage, energy. These are much easier and cheaper to come by in Malaysia than in Nigeria, and the prices reflect that...

I never said high consumption equals greed bro.... I said Nigerians were hoarding the oil expecting high returns when the price hit the roof but actually it was the hoarding that created artificial scarcity and caused the price to be too high in the long run... Thats what I called greed. If things played out normally, the price would still go high but would not be as high as 1k for a bottle, that is too high and thats what created the incentives for importation of the product.

They will not listen since these products are not produced in the north.