Nigeria refinery crude oil palm oil buyer and importer

X-raying the Nigerian palm oil sector PwC

  • Nigeria refinery crude oil palm oil buyer and importer
  • Nigeria refinery crude oil palm oil buyer and importer
  • Nigeria refinery crude oil palm oil buyer and importer
  • Nigeria refinery crude oil palm oil buyer and importer

Palm Oil Industry in Nigeria: Value Chain Analysis

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Nigerian Palm Oil Buyers, Importers & Purchasing Managers

  • How much palm oil does Nigeria import?
  • Imports In 2022, Nigeria imported $372M in Palm Oil, becoming the 32nd largest importer of Palm Oil in the world. At the same year, Palm Oil was the 27th most imported product in Nigeria. Nigeria imports Palm Oil primarily from: Malaysia ($249M), Cote d'Ivoire ($46.9M), Indonesia ($46.2M), Singapore ($9.84M), and Ghana ($8.64M).
  • Does Nigeria have a supply gap for palm oil?
  • To meet the supply gap of palm oil, the country had to depend on importation over the years. However, in 2015, the CBN published a list of 41 items, including palm oil, as ineligible for forex through the Nigerian interbank market to encourage local production and manage foreign reserves.
  • Is palm oil ineligible for Forex in Nigeria?
  • However, in 2015, the CBN published a list of 41 items, including palm oil, as ineligible for forex through the Nigerian interbank market to encourage local production and manage foreign reserves. Also, duty charge of 35% was applied on crude palm oil (CPO).
  • What if Nigeria kept its market dominance in the palm oil industry?
  • According to the Central Bank of Nigeria (CBN), if Nigeria had maintained its market dominance in the palm oil industry, the country would have been earning approximately $20 billion annually from cultivation and processing of palm oil as at today. To meet the supply gap of palm oil, the country had to depend on importation over the years.

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