Local producers alarmed by unchecked vegetable oil imports
The Vegetable and Edible Oil Producers Association of Nigeria has voiced serious concerns about the surge of imported vegetable oil in the country. Okey Ikoro, the association’s National President, criticized regulatory agencies for failing to protect local manufacturers. He highlighted the financial strain on indigenous producers and potential health risks for consumers due to unregulated imports. The association is urging authorities to take immediate action to address the crisis.
What we know
- Okey Ikoro stated that since 2024, there has been an unchecked influx of refined vegetable oil into Nigeria, causing financial hardship and business closures among local producers.
- He noted that the 2023 fiscal policy had previously classified imported refined vegetable oil as contraband, which helped local businesses expand.
- According to Ikoro, from 2025, the situation worsened as Nigerian markets became flooded with imported oil brands, especially through the Badagry border.
- He accused regulatory agencies like Customs, NAFDAC, and SON of negligence, claiming their inaction is harming local businesses.
- Ikoro urged Nigerians to support locally produced vegetable oil to avoid health risks linked to unregulated imported products.
