A stakeholder in the Agro sector and Chief Executive Officer of LSX Integrated Agro Processing, Leke Oluwatosin, has suggested the need for government to consider palm kernel processing towards increasing the nation’s Gross Domestic Product (GDP).
Oluwatosin reportedly made the disclosure while speaking to the media in Lagos.
He stressed the inherent potentiality of palm oil and its derivatives value chain, which he said, would increase the country’s revenue
Oluwatosin said: “The export potential of palm oil, its derivatives and the entire value chain are very essential to everything we do on a day basis.
“Nigeria used to be an oil palm production and export giant. We need to go back and explore the potential of the sector for the next generation.”
He added: “Our investments in palm oil processing are based on the fact that we are not producing enough of this liquid gold.
“It is disheartening that Nigeria still imports palm oil and some of its derivatives. We still bring it in from Malaysia and Indonesia. It is really an irony.”
According to the CEO of LSX Integrated Agro Processing, any country that cultivates and produces oil palm, will earn more revenue, creates jobs and increase its GDP.