Russia eyes Nigerian palm oil as export demand grows
Russia is looking at Nigeria as a possible supplier of palm oil as demand in the Russian market continues to rise.
NIGERIA – Russia is exploring larger palm oil imports from Nigeria as the country looks for more supply sources to meet rising local demand.
The discussion came up during the 2026 BusinessDay International Oil Palm Summit in Abuja, where officials from the Russian Trade Mission in Nigeria said Russia sees Nigeria as an important agricultural partner with strong potential in palm oil production and processing.
Russia’s palm oil market could reach up to one million tonnes each year, with most of the supply currently coming from imports. The talks could open fresh export opportunities for Nigerian growers and processors as the country works to grow its role in international trade.
Industry players at the summit also pointed to Nigeria’s efforts to move beyond raw palm oil production into more processing and manufacturing activities linked to the sector. The country has continued to invest in processing plants, supply chain improvements, and production systems aimed at cutting import dependence and raising export volumes.
The latest talks come at a time when global buyers are looking for more stable agricultural supply sources. Nigeria’s palm oil industry has also received fresh attention from other African countries seeking to grow their own sectors.
Last month, a Ugandan delegation visited Ondo State in Nigeria to study the country’s oil palm production system and possible areas for cooperation.
Ugandan High Commissioner to Nigeria, Ambassador Philip Odida, led the delegation, which included members of parliament. The group met state officials, farmer associations, and extension officers to learn how Ondo State manages its oil palm value chain.
Ondo State Commissioner for Agriculture and Forestry, Leye Akinola, said the state supports the sector through policies, extension services, and measures aimed at attracting investors. He said Ondo ranks among Nigeria’s leading palm oil producing states and remains open to partnerships that can help raise output and improve processing activities.
Akinola said the state plans to increase production capacity and encourage the use of modern farming and processing methods across the industry.
Adetula Bolarinwa, chairman of the National Palm Produce Association of Nigeria in Ondo State, said oil palm once played a major role in Nigeria’s export economy before attention shifted heavily to crude oil.
“Recent efforts now seek to restore the crop’s role in the economy,” Bolarinwa said.
Sign up to HERE receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
