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Although oil palm plantations and estates occupy over 118,264 hectares, they account for merely 5% of Nigeria's total crude palm oil production. Although palm kernel cake is well-known in West plantations as a useful feed ingredient, it was mostly utilized as a source of fiber and energy in rations for fish, fowl, and pigs until recently.
Okomu Oil produces crude palm oil, palm kernel, palm kernel oil, and palm kernel cake. In 2023, Okomu Oil's revenue grew by 26.61% year-over-year to N75.108 billion. [1] The company's pre-tax profit grew by 44% year-over-year to N33.839 billion in 2023. [2] Okomu Oil and Presco Oil are the two largest producers of palm oil in Nigeria, with ...
The Nigeria Institute for Oil Palm Research (NIFOR) was established in 1939, after series of West African Agricultural conferences by the then Colonial Department of Agriculture, 1927, 1930, and 1938.
Palm oil block showing the lighter color that results from boiling. Palm oil is an edible vegetable oil derived from the mesocarp (reddish pulp) of the fruit of oil palms. [1] The oil is used in food manufacturing, in beauty products, and as biofuel. Palm oil accounted for about 36% of global oils produced from oil crops in 2014. [2]
Most farming is done on a small scale, with households growing crops for their own use and selling excess produce in local markets. Palm Oil and Cash Crops; Palm oil production is a notable economic activity in Anyama-Ogbia. Families and cooperative groups extract palm oil, which is used domestically and sold in nearby communities.
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A Nucleus oil palm estate project was initiated by the Western Nigerian government under Adeyinka Adebayo as a way to boost the economy of small towns and rural areas. . These oil palm estates were developed beginning in 1969 and additional acreage were to be developed between the years 1975 and 1983, initially planned to include 6,000 hectares of planted oil palm fruits and 4,000 hectares ...
Prior to the Discovery of oil in commercial quantity in 1951, Agriculture was the Primary occupation of the people of Rivers State. Around 19th century when the industrial revolution reached its peak in England, the area was then referred to as Oil Rivers Protectorate, this was due to its abundant palm oil and kernel which basically constituted the main revenue source of the country. [3]