Nigeria and Indonesia have entered into a Memorandum of Understanding (MoU) to enhance the palm oil industry, production and market expansion, aiming to reduce reliance on traditional methods and boost smallholder farmers’ income.
The MoU was signed by the National Palm Produce Association of Nigeria (NPPAN) and the Indonesian Palm Oil Association (GAPKI) in Abuja.
President of NPPAN, Alphonsus Inyang stated that the agreement would provide smallholder farmers with access to palm oil knowledge, technology, and economic benefits.
He said that the MoU aimed to foster growth in Nigeria’s palm oil industry and establish mutually beneficial cooperation.
Chairman of GAPKI, Mr Eddy Martono, emphasized Indonesia’s commitment to supporting Nigeria’s palm oil industry growth and strengthening cooperation between the two nations.
Martono said Indonesia sought to expand its palm oil market to non-traditional markets, and Nigeria offered a strategic location for this endeavour.
Director of the Indonesian Embassy in Nigeria, Sahabi Muazu, expressed hope that the MoU would drive growth in Nigeria’s palm oil industry.,
GAPKI Deputy Secretary-General, Lolita Bangun highlighted Nigeria’s potential as a profitable investment destination, citing the success of IndoMie in the country.
According to her, the agreement aims to increase palm oil exports to Nigeria, which has a growing demand for the product.
She explained that with Indonesia’s expertise and Nigeria’s strategic location, the partnership was expected to boost the industry in both nations.
