Insightful stuff💡
The global palm oil business was valued at $66.99 billion in 2024 and is expected to grow to $69.46 billion in 2025 at a compound annual growth rate (CAGR) of 3.7%. Looking ahead, the palm oil market is forecasted to reach $83.82 billion by 2029, growing at a CAGR of 4.8%.
Palm Oil is Quietly Outperforming — But Most Nigerians Are looking down on it.
While attention has stayed on fintech and digital startups, something else has been quietly delivering outsized returns — Nigeria’s palm oil industry.
In just six months, Presco Plc posted ₦89 billion in profit on ₦199 billion in revenue.
Okomu Oil is now less than ₦50 billion away from a ₦1 trillion valuation.
If you had invested ₦10 million in either stock in January, you’d be sitting on over ₦22 million today.
At the same time, Nigeria still imports over 450,000 metric tons of palm oil annually just to meet demand.
Global demand is expected to reach 200 million tons by 2030, powered by food, cosmetics, and biofuels.
