Senate Seeks Ban On Importation Of Palm Oil Into Nigeria by OrientDailyNews: 1:29pm
The Senate on Tuesday in Abuja urged the Federal Government to ban importation of palm oil into the country in order to protect local production as well as encourage farmers.
This followed the unanimous adoption of a motion entitled: “Urgent Need to Halt the Importation of Palm Oil and its Allied Products to Protect Palm Oil Industry in Nigeria.’’
In a lead debate, the sponsor of the motion, Sen. Francis Alimikhena (Edo-APC), decried importation of palm produce into the country.
Alimikhena expressed concern that importation of palm kernel and allied palm products are threats to Federal Government’s campaign on diversification of the economy through increased agricultural production and exports.
He said that Nigeria imported about 450, 000 tonnes of palm oil to the tune of N116.3 billion in 2017.
“Nigeria was the world leading producer of palm oil at independence, but unfortunately, Indonesia and Malaysia have overtaken us and we are now importing palm oil.
“Malaysia which is widely believed to have collected its first seedlings from Nigeria some decades ago, is now exporting palm oil products to us.
“The government must reverse this trend with copious investments in the local palm industry and the protection of local producers from unnecessary imports,’’ Alimikhena said.
While acknowledging that Nigeria is endowed with the land and manpower to boost palm oil production, the lawmaker emphasised that the focus should be directed toward returning to pre-independence status in palm oil production.
“We have no business importing palm kernel or any oil palm product from any country.
“At independence, agriculture was the mainstay of Nigeria’s economy. More than 70 per cent of the population was engaged in agriculture.
“Apart from various food crops produced in the country, Nigeria was a major producer of palm oil/kernel, cocoa, groundnut and rubber.
“But following the discovery of crude oil in commercial quantity in the 70s, agriculture was neglected,’’ Alimikhena said.
He added that the importation of the product was harming the local palm industry and depleting foreign reserve.
“This is also threatening the viability of the industry into which many Nigerians have sunk huge sums of money in support of the government’s export promotion drive.
“If the palm industry is fully developed, it will guarantee mass employment and boost our foreign exchange earnings,’’ he added.
Contributing, Sen. Theodore Orji (Abia-PDP) said there was need to establish a special fund to encourage local production of palm oil in the country.
He also expressed concern that many oil production plants in the country were moribund.
According to Orji, palm oil used to be a major income earner for the country, but unfortunately many plants are dead.
On his part, Sen. Jibrin Barau(Kano-APC) called for introduction of policies that would be targeted at encouraging local production of cash crops.
Sen. Rabiu Kwankwaso (Kano-APC) also urged the Federal Government to ban importation of cash crops that can be produced locally.
“Also there is need for the Committee on Agriculture and Rural Development to invite the Nigerian Institute for Oil Palm Research (NIFOR) on why it has failed to deliver on its mandate,’’ Kwankwaso said.
In his remarks, the Deputy Senate President, Ike Ekweremadu, said that the importance of reviving the country’s palm oil industry cannot be overemphasised.
“There is need for this sector to be properly positioned to play its role as one of the major income earners for the country.
“When the palm oil sector is revived, it will boost employment,’’ Ekweremadu said. (NAN)

yugee4ambyngoddy:

Senate Seeks Ban On Importation Of Palm Oil Into Nigeria by OrientDailyNews: 1:29pm
The Senate on Tuesday in Abuja urged the Federal Government to ban importation of palm oil into the country in order to protect local production as well as encourage farmers.
This followed the unanimous adoption of a motion entitled: “Urgent Need to Halt the Importation of Palm Oil and its Allied Products to Protect Palm Oil Industry in Nigeria.’’
In a lead debate, the sponsor of the motion, Sen. Francis Alimikhena (Edo-APC), decried importation of palm produce into the country.
Alimikhena expressed concern that importation of palm kernel and allied palm products are threats to Federal Government’s campaign on diversification of the economy through increased agricultural production and exports.
He said that Nigeria imported about 450, 000 tonnes of palm oil to the tune of N116.3 billion in 2017.
“Nigeria was the world leading producer of palm oil at independence, but unfortunately, Indonesia and Malaysia have overtaken us and we are now importing palm oil.
“Malaysia which is widely believed to have collected its first seedlings from Nigeria some decades ago, is now exporting palm oil products to us.
“The government must reverse this trend with copious investments in the local palm industry and the protection of local producers from unnecessary imports,’’ Alimikhena said.
While acknowledging that Nigeria is endowed with the land and manpower to boost palm oil production, the lawmaker emphasised that the focus should be directed toward returning to pre-independence status in palm oil production.
“We have no business importing palm kernel or any oil palm product from any country.
“At independence, agriculture was the mainstay of Nigeria’s economy. More than 70 per cent of the population was engaged in agriculture.
“Apart from various food crops produced in the country, Nigeria was a major producer of palm oil/kernel, cocoa, groundnut and rubber.
“But following the discovery of crude oil in commercial quantity in the 70s, agriculture was neglected,’’ Alimikhena said.
He added that the importation of the product was harming the local palm industry and depleting foreign reserve.
“This is also threatening the viability of the industry into which many Nigerians have sunk huge sums of money in support of the government’s export promotion drive.
“If the palm industry is fully developed, it will guarantee mass employment and boost our foreign exchange earnings,’’ he added.
Contributing, Sen. Theodore Orji (Abia-PDP) said there was need to establish a special fund to encourage local production of palm oil in the country.
He also expressed concern that many oil production plants in the country were moribund.
According to Orji, palm oil used to be a major income earner for the country, but unfortunately many plants are dead.
On his part, Sen. Jibrin Barau(Kano-APC) called for introduction of policies that would be targeted at encouraging local production of cash crops.
Sen. Rabiu Kwankwaso (Kano-APC) also urged the Federal Government to ban importation of cash crops that can be produced locally.
“Also there is need for the Committee on Agriculture and Rural Development to invite the Nigerian Institute for Oil Palm Research (NIFOR) on why it has failed to deliver on its mandate,’’ Kwankwaso said.
In his remarks, the Deputy Senate President, Ike Ekweremadu, said that the importance of reviving the country’s palm oil industry cannot be overemphasised.
“There is need for this sector to be properly positioned to play its role as one of the major income earners for the country.
“When the palm oil sector is revived, it will boost employment,’’ Ekweremadu said. (NAN)

thanks for sharing! read it somewhere and am praying it sees d light of d day....

prices keeps dropping, hoping it hits d bottom as it used to be.... price updates shortly

donparosky:
prices keeps dropping, hoping it hits d bottom as it used to be.... price updates shortly

please just keep us upto date on the price.

preacherz:


That's the easiest part.
Palm kernel merchants comb every palm oil mill irrespective of its location to scout for uncracked PK.
Like I said that's d easiest part.

Do you happen to have contacts of suppliers of handpicked PKN please?

yugee4ambyngoddy:


please just keep us upto date on the price.

this got long cos of rumours and fruit scarcity, as at last week oil dropped to 6500 per keg but suddenly rose again to #7500 this morning. It may not drop any further but anything can happen. it's bout risk, to those who can and are ready, you can take d risk. God bless our hustles

price updates :
Lagos : 10000-10500
kaduna: 9500-10000
kano: 9500( Malaysian oil is killing d market)
Akwa ibom: 7500
zamfara : 10500
Abuja : 10500-11000
Jos: 9000-9500
more updates coming shortly

donparosky:
price updates :
Lagos : 10000-10500
kaduna: 9500-10000
kano: 9500( Malaysian oil is killing d market)
Akwa ibom: 7500
zamfara : 10500
Abuja : 10500-11000
Jos: 9000-9500
more updates coming shortly

Lagos price is not so correct though, I have information of people buying 9000 or 9500 because it's also a dumpling ground for a lot of people bringing in from different angles too. One of the most competitive states for oil

donparosky:
price updates :
Lagos : 10000-10500
kaduna: 9500-10000
kano: 9500( Malaysian oil is killing d market)
Akwa ibom: 7500
zamfara : 10500
Abuja : 10500-11000
Jos: 9000-9500
more updates coming shortly

udysweet:

Lagos price is not so correct though, I have information of people buying 9000 or 9500 because it's also a dumpling ground for a lot of people bringing in from different angles too. One of the most competitive states for oil

The price for Lagos is 10000-10500 for first grade oil, however just like its happening up north, influx of second grade oil makes it hard for first grade sellers to sleep well��.
God bless our hustles

live from Kaduna :
First grade oil is 10500 at sabo
second grade is 9800
Malaysian oil is 9000
some places in Goni Gora and kafanchang sells as high as 11500
please update us from your ends

menwongo pls come and tell us what's happening in Akwa Ibom o
oil price just jumped to 8k like this....
Are we safe, any hope of dropping again.

donparosky:
price updates : Lagos : 10000-10500 kaduna: 9500-10000 kano: 9500( Malaysian oil is killing d market) Akwa ibom: 7500 zamfara : 10500 Abuja : 10500-11000 Jos: 9000-9500 more updates coming shortly

thanks a lot

donparosky:
price updates : Lagos : 10000-10500 kaduna: 9500-10000 kano: 9500( Malaysian oil is killing d market) Akwa ibom: 7500 zamfara : 10500 Abuja : 10500-11000 Jos: 9000-9500 more updates coming shortly

thanks a lot

I think there might be an alteration in the palm oil calendar this year going by some obvious reasons such as the rains coming early and price being highly unstable. Fingers crossed.

yugee4ambyngoddy:


thanks a lot

uwc boss

Preciousseed:
I think there might be an alteration in the palm oil calendar this year going by some obvious reasons such as the rains coming early and price being highly unstable. Fingers crossed.

yeah
seasons are changing
weather is changing
fruits are scarce
yield is poor
it's really going to be an interesting year and everyone should trade smartly and avoid greed!!! hoping to see all the faithful dealers and hustlers making it big time.
God bless our hustles

donparosky:
menwongo pls come and tell us what's happening in Akwa Ibom o
oil price just jumped to 8k like this....
Are we safe, any hope of dropping again.

Oga Na Oga!
Me don lost this year predictions

To even see better fruit buy Na wahala

Since the day senators deliberated on stoping palm oil importation...empty kegs from north arrived in thousands

menwongo:

Oga Na Oga!
Me don lost this year predictions

To even see better fruit buy Na wahala

lol am telling you!!! fruits are scarce and the yield is poor!!

menwongo:
Since the day senators deliberated on stoping palm oil importation...empty kegs from north arrived in thousands

the power of social media sha
we praying it all works together for our own good

donparosky:
price updates :
Lagos : 10000-10500
kaduna: 9500-10000
kano: 9500( Malaysian oil is killing d market)
Akwa ibom: 7500
zamfara : 10500
Abuja : 10500-11000
Jos: 9000-9500
more updates coming shortly

We sold our oil in Abuja around that period between N9,000, N9500 and N10,000. We just tried to sell it before the new oil flood then market. Those market women prefer the imported oil, not minding them quality as long as the price is cheaper.
N8,000 now in Osun, Osogbo. Down from N9,000.

maasoap:

We sold our oil in Abuja around that period between N9,000, N9500 and N10,000. We just tried to sell it before the new oil flood then market. Those market women prefer the imported oil, not minding them quality as long as the price is cheaper.
N8,000 now in Osun, Osogbo. Down from N9,000.

the price is kicking gradually sir, the only period one can comfortably buy oil at a fair price is during this Easter celebration

Good day everyone!!!
sincere apologies to those i couldn't pick up their calls, it's been a very hectic week for us but we thank God.
back to price update................
it's #8500 today in Akwa Ibom first grade
Zaria is 11k
kaduna is 10800
kano is 10500
Abuja is 11-11500

I was supposed to be in Lagos this week but my schedules are really tight. Hope to be there by next week am hearing 10500 ......please lagosians confirm the price mbok
God bless our hustles

the sudden rise in price is completely inexplicable!!! me self confuse like this but I sha hope say no be cos of the rumoured ban on oil importation...
those intending to hoard should be looking around the Easter period. the price will be a bit fair then.
meanwhile, to those clients finding it difficult to pay before we deliver, http://www.forexcrow.com is here to help. it operates just like eBay. check it out, I've personally met with the brain behind the idea and I can guarantee your cash is secured.
more details to come shortly!!!
God bless our hustles

@Donparosky, what could be your reasons for anticipating better price during the easter period? I'm just curious.

Can't find peeos thread.. What happened

TUBLEZ:
Can't find peeos thread.. What happened

it has bn removed.

sanod:

it has bn removed.

OK.. Wht abt the affected guys

Preciousseed:
@Donparosky, what could be your reasons for anticipating better price during the easter period? I'm just curious.

its a usual trend for some years now. most times the locals sell their oil very cheap in trying to access cash since the banks are usually closed by then.
Anyways, from childhood, that's how It has been and could be!!!
N/b: it's just my feelings!! just decide on what you want and take the risk.....
God bless our hustles

sanod:

it has bn removed.

hmmmm
it's well and really well

TUBLEZ:
Can't find peeos thread.. What happened

When I said that the thread should be closed down, people thought otherwise. She created the thread and she was the fraud on the thread, that was why the thread needed to be closed down.
Well, this thread will take the place.