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Marketing year (MY) 2021/22 production and exports are forecast to hold steady from MY 2020/21 as farmers take old trees out of production via stumping.
In May 2021, President Muhammadu Buhari signed into law the Plant Variety Protection Act 2021 to create a functioning regime protecting plant varieties in Nigeria.
Nigeria’s oil palm sector contributes to economic development at all levels – national and state. Currently, the country's demand for palm oil outweighs its supply.