Nigerian Producers Warn of Risks from Imported Oil

The Vegetable Oil Producers Association of Nigeria, represented by Okei Ikoro, held a press conference in Owerri, Imo State, on Monday, where they raised alarms about the unchecked influx of imported vegetable oil into Nigeria. Ikoro criticized regulatory agencies for failing to protect local manufacturers, leading to significant financial consequences for indigenous producers and health risks for consumers.

He noted that the continuous importation of refined vegetable oil is making it nearly impossible for local producers to compete due to high operational costs, including electricity tariffs and taxes. Ikoro warned that if the situation persists, local producers would remain shut down, struggling to pay salaries and service loans.

He highlighted that the market is flooded with numerous brands of vegetable oil, many of which lack regulatory scrutiny. Ikoro urged regulatory agencies to take action, emphasizing that local palm oil production is healthier and more nutritious than imported alternatives.

He called for increased patronage of local products to mitigate the health risks associated with unregulated imports.