Nigeria and Indonesia have entered into a Memorandum of Understanding (MoU) to enhance palm oil production and market expansion between both countries.
To reduce reliance on traditional methods and boost smallholder farmers’ income, the agreement would also provide smallholder farmers with access to palm oil knowledge, technology, and economic benefits.
The MoU was signed by the National Palm Produce Association of Nigeria (NPPAN) and the Indonesian Palm Oil Association (GAPKI) in Abuja.
Alphonsus Inyang, the President of NPPAN, stated that the MoU is aimed at fostering growth in Nigeria’s palm oil industry and establishing mutually beneficial cooperation.
Also, Eddy Martono, the Chairman of GAPKI, emphasised Indonesia’s commitment to supporting Nigeria’s palm oil industry growth and strengthening cooperation between the two nations.
Mr Martono said Indonesia sought to expand its palm oil market to non-traditional markets, and Nigeria offered a strategic location for this endeavour.
Sahabi Muazu, the Director of the Indonesian Embassy in Nigeria, expressed hope that the MoU would drive growth in Nigeria’s palm oil industry.
In addition, Lolita Bangun, GAPKI Deputy Secretary-General, 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 palm oil industry in both nations
