Nigeria can generate $20bn from oil palm production annually – Gov. Obaseki

OIL palm cultivation and production can earn Nigeria $20bn annually and help in diversifying its economy from crude oil.

This was stated by the Governor of Edo State, Godwin Obaseki, who reiterated the need for Nigeria to diversify its economy.

Obaseki made the statement in Benin, the state capital, when he told journalists that the decline in prices of crude oil and the COVID -19 pandemic highlighted the importance and urgency to diversify the country’s economy to create an alternative source of revenue.

He said his government was investing hugely in the agricultural sector to boost the state’s economy, tackle food insecurity and create wealth for its people.