The Ondo State government has expressed its concern over the unrestricted importation of foreign palm oil into the Nigerian market, emphasizing that this practice will cause further harm to the palm oil sector and the economy.
Akin Olotu, the Senior Special Assistant to Governor Rotimi Akeredolu on Agribusiness, strongly criticized the importation of palm oil into the country, describing it as a clear case of economic sabotage. Olotu appealed to President Bola Ahmed Tinubu to take immediate action to halt any further importation of palm oil into Nigeria. He also stressed the importance of investigating the cartel responsible for these exports in order to prevent economic sabotage from escalating.
Olotu stated, “I want to condemn the importation of palm oil and the staggering increase in the importation of oil palm into the country in the last four months. It is purely economic sabotage, and I’m appealing to Mr Governor and the President to shed light on this issue.”
He further explained, “It is evident that a significant amount of investment has been made in the oil palm sector in Ondo State over the past three to four years, with about N50 billion injected into this sector. Many of these investors are indigenous individuals, and it is true that there is a gap between local production and the demand in the country.”
“But the extent of this gap cannot justify the excessive amount of imports into the country; it is purely outrageous, and I consider it to be an act of economic sabotage. Presently, we have a substantial quantity of oil palm stored in different tanks in the state, unsold. Many people are lamenting that they are unable to sell their products.”
Olotu raised important questions, asking, “Why is it that the prices of other products are increasing while the price of palm oil is decreasing? Why have we witnessed this surge in the last four months? What will happen to the investors we have successfully attracted across the country? We cannot sustain our economy by continuing in this manner.”
Drawing attention to the multinational nature of the cartel involved, Olotu emphasized the need for President Buhari to direct his attention to this sector, saying, “The oil palm sector, as observed in Ondo State, has tremendous advantages and can generate millions of jobs for our people. We cannot prioritize the engagement of people from other countries at the expense of our own citizens.”
He further appealed to President Bola Tinubu, stating, “I urge President Tinubu to give particular attention to this sector in terms of intervention, as he has expressed his interest in creating millions of jobs for the people. I assure him, using Ondo State as a model, that millions of jobs can be created.”
Highlighting the positive impact of the palm oil industry on poverty alleviation in Ondo State, Olotu emphasized its potential to contribute to job creation and agricultural development nationwide. He concluded by urging Tinubu to address this pressing issue promptly, as it constitutes pure economic sabotage.
“I want to emphasize that the individuals behind this importation can manipulate situations through bribery. This is a clear case of economic sabotage that is not in the best interest of the Nigerian government or our economy, and it requires urgent attention.”
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Why Nigeria’s economy needs prayer — Primate Ayodele
The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has revealed that Nigeria’s economy needs prayers to…
EXCLUSIVE: DSS recovers 18 bags of currency, documents from Emefiele’s Lagos residence
No fewer than 18 Ghana-must-go bags containing money and documents have been carted away by operatives of…
Ladies should have between N5m to N10m before getting married — BBNaija’s Doyin
Former Big Brother Naija season 7 ‘Level Up’ housemate, Doyinsola Anuoluwapo David, popularly known as Doyin, has enjoined ladies to…
Peter Obi still best candidate for better Nigeria — Obasanjo
Former President Olusegun Obasanjo has described presidential candidate of the Labour Party (LP) in…
GWR: Chef Dammy plans to unseat Hilda Baci with 150-hour cook-a-thon
The 22-year-old chef, Damilola Adeparusi, popularly known as Chef Dammy, has revealed her plans to…
TRANSFER NEWS: Chelsea agree deal for 21-year-old Senegalese striker
According to The Athletic, Chelsea has agreed to personal terms with Villarreal’s Senegal striker Nicolas Jackson, 21, who has a release clause of…
and then