President Bola Tinubu has been asked to expand oil palm farming by Rt. Hon. Yakubu Dogara, a former Speaker of the House of Representatives. Dogara notes that in only five years, oil palm may earn up to N16.2 trillion yearly for the nation.
Dogara emphasized that many Nigerians could be lifted out of poverty if the impoverished were helped to resurrect large-scale oil palm production.
Research has indicated, according to Dogara, that Nigeria can bring back the production of palm oil if 2,500,000 households from states that are able to plant and grow palm trees are given the opportunity to cultivate just one hectare apiece.
He added that, in just five years, 375,000,000 trees, multiplied by 2,500,000, will produce up to N16. 2 trillion annually. Each hectare, on average, includes 150 trees that may produce N5, 000,000 annually.
He claimed that by doing this, millions of Nigerians would be able to escape multifaceted poverty.
In addition to calling for a probe of the current situation and administration of the oil palm tax established by former President Olusegun Obasanjo, Dogara made these remarks in Abuja on Wednesday night during a meeting with the National Association of National Palm Producers Association of Nigeria (NPPAN).
The former speaker, who noted that the money is being held in storage by the Central Bank of Nigeria (CBN), pleaded with President Tinubu and the National Assembly to break the taboo around the palm oil levy, which was designated for the advancement of the plan in Nigeria.
“I had no reason to consider the oil palm levy during my sixteen years in the National Assembly, even though I am aware that it was implemented by the Obasanjo administration in 2001,” he stated. Thus, if we believe that the CBN still has the money, it has been there, building up in the CBN.
‘’It is the duty of the National Assembly members to open accounts and look into whether this money is present, therefore I’m glad they’re here. We don’t even need to search for money because it must have increased to hundreds of billions by now. To find out if the money is there or not, I think the media should make this conversation more widely known.
In the interest of the country, the president need to investigate the handling of these monies and their whereabouts. If it is present, everything is well and we are not experiencing any issues. However, if that money is missing, the person who stole it needs to pay the consequences.
In a statement provided to journalists in Bauchi on Thursday, Dogara’s media assistant Turaki Hassan said, “This venture (oil palm development) will be taking so many families out of poverty, so it is something that has to be done.”
“I’ll also say that in order for us to move forward, the president might have to form a presidential implementation committee to further the growth of oil palm in Nigeria. Allow him to take the matter to the point where updates on the progress being made in this regard are provided nearly every month.
Dogara asked all parties involved to keep pushing for oil palm farming as a means of reducing poverty in Nigeria until the right people hear about it.
Hon. Dogara was earlier given the title of national patron of the association by NPPAN chairman, Ambassador Alphonsus Infant.
He claimed that the former speaker was picked for the position because he is a “good negotiator of policies” and will work to bring back oil palm’s former glory in Nigeria.
Nigeria ruled the market until the 1960s. Nigeria accounted for 60% of global production and exports. Petroleum was then discovered. Similar to many other things, oil also lost its position. We wish to reclaim the glory we lost,” he bemoaned.
“Indonesia produces 80 million tonnes of palm oil per year,” he continued. Malaysia produces 19.2 million tonnes annually, followed by China with 5 million tonnes, Columbia with 1.2 million tonnes, and Nigeria, rather tragically, with 1.4 million tonnes. Furthermore, we could lose this position at any moment. The rationale stems from the recent policy announcement by India that two million hectares of rice farms should be designated as oil palm estates.