Nigeria’s crude palm oil (CPO) imports from top global producing nations declined 26.2 percent in 2024 as local production rose due to increased investments, data from the National Bureau of Statistics (NBS) show. Nigeria’s CPO import declined from N17.03 billion in 2023 to N12.6 billion in 2024, the NBS said, despite a worsened FX scarcity and weaker naira. Experts attribute the decline to the ongoing massive investments by plantation owners in the country, which has boosted local production in the last five years. Read also: 
Nigeria’s crude palm oil (CPO) imports from top global producing nations declined 26.2 percent in 2024 as local production rose due to increased investments, data from the National Bureau of Statistics (NBS) show. Nigeria’s CPO import declined from N17.03 billion in 2023 to N12.6 billion in 2024, the NBS said, despite a worsened FX scarcity and weaker naira. Experts attribute the decline to the ongoing massive investments by plantation owners in the country, which has boosted local production in the last five years. Read also: