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PHCCIMA Urges Govt To Develop Oil Palm Industry

The organised business community in Rivers State under the aegis of Port Harcourt Chambers of Commerce, Mines and Agriculture (PHCCIMA) has urged government and investors to take advantage of the huge potentials in the oil palm industry to promote enterprise development and boost the country’s economy.
Some participants who spoke at the Palm Oil Stakeholders Forum, organised by PHCCIMA identified Nigeria as having the highest potentials of development in the palm oil industry because of its vast arable landscape and suitable climate for oil palm cultivation.
Addressing the stakeholders forum, the keynote presenter, Mr Isaac Okemini said Nigeria’s concept of the palm oil industry as merely for domestic consumption was erroneous, saying Malaysia and Indonesia took advantage of the economic potentials in the oil palm and revived their local economies.
He said, “Nigeria needs to establish 110,000 hectares of palm oil plantation to close the demand, supply gap, Nigeria oil spend at least 2bn dollars for palm oil importation in the next ten years.”
Okemini listed some of the advantages of investment in the palm oil industry to include, job creation, poverty reduction, entrepreneurship development, reduction of rural urban migration and curbing of security challenges.
He called on government to acquire more lands for farmers through negotiations with local communities.
In his views, the second paper presenter, Mr Felix Nwabuko, called for the establishment of Oil Palm Council to oversee the activities of the industry, especially in promoting public private sector collaboration to make Nigeria a global leader in the oil palm industry.
In his remarks, the representative of the Rivers State Ministry of Agriculture, Mr Paul Damgbor commended PHCCIMA for the initiatives and called on local entrepreneurs and investors to key into the new economic drives in the palm oil sector.
The Chairman of the forum and first Deputy President of National Association of Chambers of Commerce, Industries Mines and Agriculture, (NACCIMA), Ide John Udeagbala, commended the Central Bank of Nigeria over its new agricultural policies and urge government at all levels to create the enabling environment for farmers and other stakeholders in the oil palm sector to liverage upon.
Earlier, the President of PHCCMA, Chief Nabil Saleh, had explained that the forum organised under the theme, “Resuscitating The Palm Oil Industry, Prospects in Rivers state” was intended to “ refocus the attention of government, investors and other stakeholders in the need to harness the enormous potentials in the oil palm industry. “
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