Home > News > Industry News The industry trend and prospect of vegetable oil production and consumption in Nigeria
In Nigeria, over 30 million hectares farmland is under cultivation season to season, but still short of feeding its growing population. Thus, Nigerian government has paid more attention to vegetable oil production industry and published many policies to support its development, helping address the country’s dependence on food imports totaling nearly 11 billion dollars annually.
So, it is really a good chance in Nigeria to start vegetable oil business now, not only for businessmen, investors, but for those vegetable oil producers who want to expand their small oil mill.
Palm oil production industry is very popular in Nigeria
If you have intent to start vegetable oil production business in Nigeria, you can choose palm oil production industry. We all know, palm oil production industry plays a dominant role in Nigeria. Recent reports show, Nigeria palm fruit production capacity already be the third one in the world. In addition, Nigerian government announced that Nigeria ban to import crude palm oil from other countries from this year. With its advantaged raw material production capacity, and government support, palm oil production industry certainly will be the most potential one in Nigeria market.
Groundnut oil production business also became popular in North of Nigeria
If you are in North of Nigeria, maybe palm oil is not the best choice for you. But you can consider groundnut and soybean oil production business. As our Doing Mechanical Equipment Co.,ltd many times research and investigate, we found already many businessmen realized groundnut oil business opportunity. Till now, there has been over 5 large groundnut oil production factories already located in Northern area, Nigeria. [Related reading: Groundnut oil production business plan guide in Nigeria]
Of course, if you have finance problem, it will be a great choice for you to start with a mini oil mill and then expand it step by step instead of starting the whole vegetable oil processing line once. That’s good for you to adjust finance investment and more space to research the market.
Nigeria oil market is very promising. If you are looking for invest, if you are ready to start, please no hesitate to contact us. We will tailor the most suitable solution for every client.
