How Nigeria can earn $20B from oil palm yearly – Obaseki

Godwin Obaseki, Edo State Governor, has reiterated the need for Nigeria to diversify its economy from crude oil, noting that the nation can earn $20bn annually from the cultivation and production of oil palm.

Obaseki told journalists in Benin that the decline in prices of crude oil and the COVID -19 pandemic highlighted the importance and urgency to diversify the country’s economy to create an alternative source of revenue.

The governor said his government was investing hugely in the agricultural sector to boost the state’s economy, tackle food insecurity and create wealth for Edo citizens.

Obaseki was first sworn in as governor of Edo State on the 12th of November 2016. Prior to becoming governor, he had served as the chairman of the Edo State Economic and Strategy Team inaugurated by former Governor Adams Oshiomole in March 2009.[4]

Obaseki holds post graduate degrees in both Finance and International Business, and is a Fellow of the Chartered Institute of Stock Brokers, Nigeria