Lagos, July 18, 2025 — The Plantation Owners Forum of Nigeria (POFON) has assured Nigerians that the price of palm oil is expected to remain stable throughout the year, amid concerns over food inflation and rising agricultural costs.
Speaking on Thursday, representatives of the forum attributed the anticipated price stability to improved cultivation practices, enhanced local production, and strategic market regulation by key stakeholders in the sector.
According to the forum, proactive efforts by plantation owners across major producing states such as Edo, Cross River, Akwa Ibom, and Ondo have led to an increased output of palm oil, helping to maintain a steady supply across markets and curb artificial scarcity.
“The Nigerian palm oil industry is in a stronger position than in previous years. With the level of output we’re seeing and better coordination among stakeholders, prices will remain stable this year,” a POFON spokesperson said.
They also credited government support programmes and private investments in the sector for boosting mechanisation and reducing dependency on palm oil imports.
The forum urged continued cooperation between farmers, processors, and distributors to ensure a consistent supply chain and to prevent hoarding or price manipulation that could affect consumers.
Palm oil is a widely used household and industrial product in Nigeria, and its stability in price is seen as a positive development in the fight against food price volatility.