Production of palm oil in Nigeria 2009-2023

In 2023, the production of palm oil in Nigeria reached 1.4 million metric tons. Between 2009 and 2023, the production quantity generally increased, registering the highest growth in 2010, when it grew by roughly 14 percent. From 2014 onwards, the output from palm oil production followed a rising trend. Nigeria is one of the leading producers of palm oil worldwide.

Growing domestic palm oil consumption

Around 1.8 million metric tons of palm oil were expected to be consumed in Nigeria as of the 2021/2022 crop year. This represented a peak in consumption compared to the ten preceding years, indicating that the farm product is one of the major crops in the country with a growing domestic need. Most palm oil is for industrial purposes, while a smaller percentage is used by households.

Nigeria imports palm oil

In 2018, 350,000 metric tons of palm oil were imported into Nigeria. While this was a higher volume compared to the preceding year, it represented an overall decrease in imports of the product. For instance, in both 2013 and 2014, the country imported over 500,000 metric tons of palm oil. China and Malaysia were the main origins of palm oil imports in Nigeria as of the fourth quarter of 2021.