Ghana is set to revive its oil palm industry as Oro Oil Ghana has secured a 10-year partnership with Nigerian investors to enhance production, expand markets, and modernize farming techniques. The collaboration aims to reduce reliance on traditional methods and improve smallholder farmers’ incomes.

Beyond trade, the strategic partnership will bring Nigerian oil palm investments, expertise, and machinery to complement Ghana’s favorable environment for large-scale cultivation.

With over 10,000 hectares of plantation land, an affordable and abundant workforce, and access to the African Continental Free Trade Area (AfCFTA), Ghana is poised for significant industry growth.

Years of neglect and insufficient strategic investment have led to a decline in Ghana’s oil palm production. According to the Oil Palm Development Association of Ghana, the country’s oil palm export for 2024 dropped by more than 50%.

For the Nigerian counterparts, a growth and export-driven strategy for Ghana must include adherence to international best practices to attract investors and boost market confidence.

Nigeria currently consumes approximately three million metric tons of palm oil annually, with Oro Oil Ghana being the largest exporter of Ghanaian palm oil to Nigeria.

According to the CEO of Oro Oil Ghana Limited, Maxwell Commey, the sector’s decline is due to a lack of support, poor planting materials, and a technological gap.

Speaking at the National Economic Dialogue 2025 at the Accra International Conference Centre, which brought together economic experts, policymakers, and industry leaders, Mr. Commey highlighted Ghana’s current cultivation of about 100,000 hectares. He emphasized that this new partnership would mobilize investors and industry resources from Nigeria.

He further noted that the initiative would create employment opportunities, generating 40,000 direct jobs across the value chain while contributing to GDP growth, industrialization, and knowledge transfer in Ghana.

Mr. Commey also reiterated the need for a government-backed land bank initiative to improve production and bridge the supply gap of approximately 250,000 metric tons.

“This partnership aims to foster growth in Ghana’s palm oil industry and establish mutually beneficial cooperation. This is indeed a confidence booster for Oro Oil Ghana Limited and the economy at large,” Maxwell Commey stated.

He also urged the government to provide stronger support to the sector to harness its full potential within local and regional markets.

The two-day National Economic Dialogue 2025, chaired by President John Mahama, is centered on the theme: “Resetting Ghana: Building the Economy We Want Together.”