Over 50 years ago, Nigeria held the top position as the world’s largest palm oil producer with a robust global market share of more than 40%, contributing about 82% to the national export revenue.
Nigeria dropped this position despite the increase in financial investments within the sector by the World Bank due to outdated machinery, technique, and small-scale farming of oil palm.
This challenge hitherto still affects the Nigerian agricultural sector. Currently, the country is blessed with 34 million hectares of arable land for agriculture, however, only 6 tractors are available for every 10,000 hectares.
With high prospects in the palm oil industry, the industry provides a hundred-billion-dollar opportunity for investors and farm mechanizations companies to tap into, as both investments and mechanization are needed to improve the Nigerian Agricultural sector.
The W2A Agri-Entry program provides an enabler for foreign manufacturers and processors to gain easy, quick, and efficient access to doing business in Nigeria.
To find out more about the W2A Agri-Entry program please visit https://www.welcome2africaint.com/agrientry