The federal government says it is working to create four million jobs through oil palm production in the country.
Sunday Akpan, the permanent secretary, federal ministry of industry, trade, and investment, made this known on Wednesday during the presentation of the draft Oil Palm Policy document value chain.
Akpan was represented at the event by Omololu Ope-Ewe, director of the department of Commodity Produce and Inspectorate (CPI).
The director said oil palm production has the potential to sufficiently and conveniently place the country as a major oil palm producer and exporter, ‘as against what is obtainable in the crude oil sector’.
“The essence of the national oil palm policy is to guide, regulate, protect and support both public and private investment in the sector,” a statement signed by Sorinolu Olayinka, senior information officer in the ministry, quoted him to have said.
According to Akpan, local oil production currently accounts for 1% as against 70% in the past.
With the policy in place, he said the country would have a document that protects the sector, while due diligence would be done to stimulate investment for higher productivity.
The document will be transmitted to the federal executive council for approval after it is completed.