Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has underscored the bank’s determination to lead the revitalisation of the oil palm sector in Nigeria in order to provide jobs for Nigerians.
Mr. Emefiele made the pledge in Abuja yesterday during a meeting between the bank’s management and oil palm value chain stakeholders to agree on a road map to resolve the challenges in the oil palm value chain in Nigeria.
He expressed concern at the contrasting fortunes of Nigeria from being the largest producer of palm oil worldwide in the late 1950s and 1960s, to becoming a net importer of the commodity from the 1980s to date.
According to him, Nigeria currently lags behind in a distant fifth position in world production, behind countries that many years ago sent emissaries to Nigeria to learn production techniques and to get their first seedlings.
