Home News Nigeria generates $150m from coconut oil, derivatives in 2020

Nigeria generates $150m from coconut oil, derivatives in 2020

by Kunle Awosiyan
Coconut

Minister of Agriculture and Rural Development, Sabo Nanono, says Nigeria generated 150 million dollars from the export of coconut oil and its derivatives in 2020.

The minister stated this on Wednesday during the training of coconut farmers organised by the Federal Ministry of Agriculture and Rural Development (FEMARD) in collaboration with Nigerian Institute for Oil Palm Research (NIFOR) in Benin.

The minister, represented by Mr Bernard Ukattah, Deputy Director, FEMARD, said that coconut was a major non-oil export foreign exchange earner for Nigeria.

He further stated that coconut accounted for 10 per cent of the nation’s agricultural exports, adding that it was expected to generate more than 250 million dollars by 2021.

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