Oil
Crude palm oil imports soar 487% on rising demand
CEII brief
Punch reported on 6 Nov 2026: Crude palm oil imports soar 487% on rising demand.
Read the full story on PunchNigeria’s crude palm oil imports surged by 487% to N91.62bn in the first half of 2026, highlighting a major gap between local production and demand.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
85.9% of Nigeria’s merchandise exports were fuels in 2025Countries in this story
Original reporting © Punch. Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
