30/04/2010 (The Guardian) - NIGERIA'S dying palm oil industry may, at last, rebound into reckoning as a major contributor to the Gross Domestic Product (GDP) once again.

Reason: A $4.5 million facility has been dangled before the country and its neighbour, Cameroon, through a multi-stakeholders intervention scheme launched in Abuja recently.

Nigeria maintained a leading position in world production and export of palm produce in the 50s and 60s, controlling well over 45 per cent of the world market. However, it lost that prime position and now ranks 26 position in the world palm oil production chart.

The Common Fund for Commodities (CFC) project on improving the income generating potentials of the oil pal in West Africa and Central Africa sub-region is locate din Nigeria and Cameroon and is focused on individual and group training too empower major communities to develop capacity for sustainable development and supply of fresh fruit bunches.

It will also develop regional transfer of technology to increase effective and efficient production of palm oil in all the pilot centers thereby generating employment opportunities and reduce poverty in the rural areas where palm oil is widely cultivated.

To achieve the targets of the projects, three pilot commercial demonstration processing units are to be established as basics for technology transfer and technical skills upgrading in Akwa-Ibom, Ondo and Imo states.

Permanent Secretary of the Ministry of Commerce and Industry, Dr. Abubakar Mohammed explained that the CFC project was developed by the United Nations Industrial Organisation at the request of Nigerian and Cameroonian governments to promote the development, sustainable production and utilisation of the palm oil in West and Central African countries.

He stressed, "the cardinal objective of the CFC project is to encourage sectoral linkage that will improve and ensure variety and technology transfer for effective production and processing of oil palm, as well as, upgrading support from institutions to improve research and development of the oil palm in both regions."

For the project to receive the desired results in each of the three pilot centres, stakeholders will benefit from training, exchange of experience and technology transfer from Malaysia and Indonesia.

Abubakar added, "Palm oil remains the most prominent oil seed used in the production of palm-kernel, palm wine, alcohol, years, brooms, baskets and other industrial uses, which makes the crops one of the most profitable and less risky of all agricultural commodities.

He assured that the government of Nigeria was making serious efforts towards the restoring the lost glory of palm produce industry.

Head of the Cameroonian delegation to Nigeria, Chief Michael Oruh, who was at the launch of the project in Abuja thanked the Common Fund for Commodities for providing funding for the project, the UN Food and Agriculture Organisation for accepting to provide supervision and UNIDO for committing itself to ensure proper project implementation.

According to him, "the people and government of Cameroon attach special importance to this project, whose implementation will go a long way to alleviate poverty and promote the industrialization of the palm oil sector in the region and ready to continue working hands in glove with Nigerian people and government for the success of the project."