How Nigeria generated $150m from coconut oil in 2020 - Minis

How Nigeria generated $150m from coconut oil in 2020 - Minister


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 explained that coconut provided livelihood for more than 500,000 families, mostly women and youths in the country.
Nanono noted 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.

As a result of the awareness of its value and degree of uses, Nigeria has in recent times, increased the volume of production of coconut to average of 250,000 metric tonnes per annum.
“In 2016, Nigeria produced 283,774 metric tonnes and the demands for the crop have been on the increase, growing upwards to more than 500 per cent in the last decade.

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