FG laments Zero Vegetable Oil Export

The Federal Government says the state of affairs in the vegetable oil sector in Nigeria is frightening as the deficit between demand and supply of vegetable oil the country has risen to 300 000 metric tonnes.

Minister of Commerce and Industry, Achike Udenwa, disclosed that the situation was unacceptable and that all hands must be on deck to ensure that there is an improvement in the production of the commodity in the country.

“I remember that in those days, in the 60s, palm oil was one of the major export products of this country. It is therefore disheartening to note that we are not talking about palm oil as export commodity but for domestic consumption,” Udenwa said.

Udenwa made the statement recently when the executive members of vegetable/edible oil producers association of Nigeria, led by its chairman, Okey Ikoro, visited him in his office.

The minister stressed government’s commitment to reverse the trend and ensure that Nigeria again becomes an exporter of oil. “This administration is very much concerned with the improvement of infrastructure because we are aware that manufacturers are producing under harsh conditions due to the lack of municipal power supply, transportation and  and non availability of competitive funds,” he said.