Africa’s largest palm oil producer, Nigeria, imports N68bn worth in three months

Nigeria imported palm oil worth about ₦68 billion from Liberia, Côte d’Ivoire and Ghana in the second quarter of 2026, despite being Africa’s largest producer, according to Sahara Reporters, citing National Bureau of Statistics data.

The US Department of Agriculture ranks Nigeria as the world’s fifth-largest palm oil producer, yet imports rose sharply from ₦23 billion in the first quarter. Liberia accounted for ₦51 billion, Côte d’Ivoire ₦15 billion and Ghana ₦2 billion. Industry groups say Nigeria produces roughly 1.5 million metric tons annually, about 2% of global output. The continued reliance on imports comes despite the Central Bank’s Oil Palm Development Initiative, launched in 2019 to close an estimated 1.25-million-tonne supply gap.