The National Chairman of the Vegetable and Edible Oil Producers Association of Nigeria, Okey Ikoro, has raised concern over the continued presence of large volumes of imported vegetable oil in the Nigerian market, despite government restrictions placed on the product under the 2026 fiscal policy framework.
Ikoro, who spoke during a television interview monitored by Zoyols News, said the local market is currently flooded with more than one hundred foreign vegetable oil brands. He warned that the situation is undermining local production, discouraging investment, and weakening efforts aimed at achieving backward integration in the sector.
He revealed that members of the association recently intercepted three trailers carrying smuggled vegetable oil through the Badagry corridor, describing the development as a clear sign that enforcement remains weak.
According to him, the 2023 fiscal policy placed vegetable oil on the prohibition list, a move that initially encouraged major investments in local production. He explained that several large companies, including Okomu, Presco, and PZ Wilmar, expanded their operations in response to the protection the policy offered at the time.
However, he noted that enforcement began to decline between 2024 and 2025, allowing imported products to re enter the market in large quantities despite the existing ban.
He expressed concern that regulatory agencies responsible for monitoring compliance, including the Nigeria Customs Service, the National Agency for Food and Drug Administration and Control, and the Standards Organisation of Nigeria, have not done enough to stop the influx of these products.
Ikoro further explained that many of the imported vegetable oils circulating in the market come in unregulated packaging, often in yellow containers with unclear or questionable labelling. He added that these products do not carry proper certification numbers, yet remain widely available to consumers.
He warned that this trend has already led to significant financial losses for local producers who invested heavily in expanding their operations. According to him, palm oil production requires long term investment, often taking up to five years before yielding returns, making the sector highly vulnerable to policy inconsistency and weak enforcement.
He also raised concerns about consumer safety, stressing that locally produced vegetable oil undergoes strict regulatory checks, including routine inspections and quality testing by relevant agencies to ensure compliance with health standards.
In contrast, he said imported oils often enter the country without proper oversight, raising questions about their quality and safety.
Ikoro called for stronger enforcement of existing regulations to protect local manufacturers, safeguard investments in the sector, and ensure that only properly certified products are allowed into the Nigerian market.
