The National Palm Produce Association of Nigeria (NPPAN) has appealed to the federal government to set up a presidential initiative for oil palm development.

Alphonsus Inyang, the association’s national president, appealed on Friday in Abuja.

He said, “The initiative would generate N16 trillion to boost the economy through oil palm between now and 2030 and upgrade it from the current 5th largest oil-producing nation globally to 3rd position.”

Mr Inyang said such an initiative should be funded by a special fund to enable it to meet its target.

He explained that the Federal Ministry of Agriculture and Food Security (FMAFS) has set up a technical working group on oil palm strategy and roadmap development, which is a step in the right direction.

Mr Inyang said the association had designed a model to be adopted by the federal government to make the country the third-largest palm oil-producing country globally.

“We are currently number five, producing  1.4 million tonnes per year, which is a far cry from Indonesia, the number one, which produces 50 million tonnes per year.

“Nigeria produces 1.4 million tonnes per year, and this is not enough to take care of our needs.

“We have designed a model for the government that the country can develop 2.5 million hectares between now and 2030. This means 2.5 million households,” he said.

Mr Inyang identified the country as the largest producer and consumer of oil palm in Africa; however, he said the nation could not produce enough for its populace.

He recommended the plantation of oil palm in home states, neighbourhoods, and around the houses rather than mass production.

(NAN)