Nigeria generated $150m from coconut oil in 2020 - Minister of Agriculture and Rural Development

The Minister of Agriculture and Rural Development, Alhaji Mohammed Sabo Nanono says Nigeria has generated over $150 million from coconut oil export and its derivatives in 2020.

The minister stated this on Wednesday through his representative, Bernard Ukattah, a deputy director in the ministry of Agriculture and Rural Development during a training for coconut farmers organized in collaboration with the Nigerian institute for oil palm research in Benin.

He stated that coconot oil exportation accounts for 10% of the nation's agricultural exports and the major non oil export earner to the country.

He said $250 million income is expected from coconut oil produce this year, adding that Nigeria has increased the production volume of coconut to average of 250,000 metric tons per annum.

In addition, he stated that 22 states are the major players, with Lagos topping the list as major producer. Others in the list include Cross River, Rivers, Akwa Ibom, Benue, Ondo, Ogun and others.

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