sale palm oil refinery plant with iso in nigeria

                                               
                                               
                                               
                                               
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  • Why is Nigeria a net importer of palm oil?
  • From being one of the leading exporters of crude palm oil in the 1960s, Nigeria is now a net importer. In a bid to close the supply gap and encourage local investment, the Federal Government included Refined Palm Oil (RPO) as one of the items that importers are restricted from accessing foreign exchange at the interbank market.
  • Does Nigeria have a supply gap for palm oil?
  • To meet the supply gap of palm oil, the country had to depend on importation over the years. However, in 2015, the CBN published a list of 41 items, including palm oil, as ineligible for forex through the Nigerian interbank market to encourage local production and manage foreign reserves.
  • When did rimco start a palm oil refinery?
  • In 1990, it did a backward integration and started the 100mt per day palm kernel crushing mill to produce the crude palm kernel oil for the refinery. Present day RIMCO further expansion with the solvent extraction Refinery recently commission by the Vice President of Nigeria, Professor Osibanjo in 2016.
  • What if Nigeria kept its market dominance in the palm oil industry?
  • According to the Central Bank of Nigeria (CBN), if Nigeria had maintained its market dominance in the palm oil industry, the country would have been earning approximately $20 billion annually from cultivation and processing of palm oil as at today. To meet the supply gap of palm oil, the country had to depend on importation over the years.