The Senate Tuesday, urged the federal government to place a ban on the importation of palm oil and kernel and fund the ministry of agriculture for greater production of the cash crop.
The red chamber also mandated its committee on agriculture and rural development to summon the Nigerian Institute for Palm oil Research (NIFOR) to explain why it failed to deliver on its mandate.
The lawmakers resolutions were sequel to an adopted motion titled, ‘Urgent need to halt the importation of palm oil and its allied products to protect the palm oil/kernel industry in Nigeria’ sponsored by senator Francis Alimikhena representing Edo north senatorial district.
While presenting his motion, Alimikhena said the unbridled importation of palm kernel and allied palm products into the country was threatening the ongoing campaign for the diversification of the economy through agricultural production and export.
The lawmaker posited that, ‘developing the oil palm industry is one of the ways that Nigeria can reduce poverty and create mass employment’.
He flayed the current flood of importation where in 2017, he said 450,000 tons of palm oil was imported at the whooping cost of N116.3 billion.
The lawmaker, however, stated that the federal government must reverse the economic trend with investments in the local palm industry and protect the local producers from unnecessary imports.
