Today’s edition of the Nigerian Army Resource Centre (NARC) Weekly Subject Experts Presentation was held at Hall C, TY Buratai Block, Abuja. There were one presentations made by the Subject Experts covering South East Asia.
The only presentation for the day by Brig Gen SN Eze Subject Expert South East Asia. His presentation discussed the Indonesia and Malaysia pledge to cooperate in fighting European Palm oil ban. President Joko Widodo called for better collaboration with neighboring Malaysia to fight what the called discrimination against their countries palm oil products, this is because of the new European Union law that threatens to dent exports of the commodity, the European Union passed a law recently this year banning imports of commodities that are linked to deforestation, a move that is expected to hurt palm oil business.
In his analysis and lessons for Nigeria, Gen Eze noted that Nigeria’s palm oil imports Malaysia increase to 92,961 metric tons by Jan-April 2023, from 20, 513 metric tons in the corresponding period of 2022. This indicates a 7248 metric tones increase dispite moves by Nigerian government in listing crude palm oil alongside other 40 items restricted from forex access and closing the Nigerian border. Palm oil imports into the Country are still on the rise owing to the huge demand and supply gap. Nigeria before independence owned 40% of global market share of palm oil production but today, Nigeria depends heavily on importation of same product it had global monopoly. He recommended that, ministries of foreign affairs/ agriculture to undertake diplomatic efforts at resolving the European Union deforestation ban that includes Nigeria.
