……….Seeks probe into utilization of Palm Oil Levy
Former Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, has urged President Bola Tinubu to prioritize the development of oil palm cultivation, which he claims could generate up to N16.2 trillion annually for Nigeria within five years.
He emphasized that reviving large-scale farming of oil palm could significantly reduce poverty among Nigerians.
Dogara cited research indicating that Nigeria could revive palm oil cultivation by engaging 2.5 million households across suitable states, each cultivating just one hectare of palm trees.
Each hectare, with 150 trees, could generate N5 million per annum, resulting in a total of N16.2 trillion annually from 375 million trees.
He argued that this initiative would lift millions of Nigerians out of multidimensional poverty.
Dogara also called for an investigation into the status and administration of the oil palm levy, established by former President Olusegun Obasanjo.
He made these remarks in Abuja on Wednesday night during a meeting with the National Palm Producers Association of Nigeria (NPPAN).
The ex-speaker urged President Tinubu and the National Assembly to scrutinize the palm oil levy funds, which are held by the Central Bank of Nigeria (CBN).
“Throughout my 16 years in the National Assembly, I didn’t focus on the oil palm levy, though I knew it was instituted by Obasanjo’s government in 2001. The funds have been accumulating in the CBN, assuming they are still there,” Dogara said.
He called on the National Assembly to investigate and confirm the status of these funds, which could now amount to hundreds of billions of naira.
Dogara added, “The president should, in the national interest, look into the administration of these funds. If the money is there, great. If not, those responsible should be held accountable.”
He stressed that developing the oil palm sector could lift many families out of poverty and suggested the formation of a presidential implementation committee on oil palm development, with regular progress briefings to ensure accountability and transparency.
Hon. Dogara encouraged continued advocacy for poverty alleviation through oil palm cultivation across Nigeria.
Earlier, NPPAN Chairman Ambassador Alphonsus Inyang conferred the honor of national patron of the association on Hon. Dogara, praising him as a “good negotiator of policies” who could help restore the lost glory of Nigeria’s oil palm industry.
Inyang lamented, “Up to the 1960s, Nigeria controlled 60 percent of the world’s palm oil production and export. With the discovery of petroleum, oil palm lost its prominence. We want to regain that glory.”
He pointed out that while Indonesia produces 80 million tonnes of palm oil annually, Malaysia 19.2 million tonnes, China 5 million tonnes, and Colombia 1.2 million tonnes, Nigeria produces only 1.4 million tonnes per year, a position that could be threatened further by India’s recent policy to convert two million hectares of rice farms into oil palm estates.
LV