Ghana is set to revive its oil palm industry as Oro Oil Ghana has secured a 10-year partnership deal with Nigerian investors.
The collaboration aims to explore production potential, expand markets, reduce reliance on traditional methods, and boost smallholder farmers’ incomes.
Beyond trade, this strategic partnership will bring Nigerian oil palm investments, expertise, and machinery to complement Ghana’s favorable conditions for cultivation.
With over 10,000 hectares of plantation land, an affordable and abundant workforce, and access to the large market through the African Continental Free Trade Area (AfCFTA), the sector is poised for growth.
Due to neglect and a lack of strategic investment by successive governments, Ghana’s production capacity has declined significantly. The Oil Palm Development Association of Ghana reports that the country’s oil palm export for 2024 dropped by more than 50 per cent.
For the Nigerian counterparts, Ghana’s growth and export-driven strategy must include adherence to international best practices to attract and accommodate investors while driving market confidence. Nigeria currently consumes approximately three million metric tons of palm oil annually, with Oro Oil Ghana being the largest exporter of palm oil from Ghana to Nigeria.
According to the CEO of Oro Oil Ghana Limited, Maxwell Commey, the decline in Ghana’s palm oil industry is due to a lack of support for the sector, poor planting materials, and technological gaps.
Speaking at the much-anticipated National Economic Dialogue 2025 at the Accra International Conference Centre—an event bringing together leading economic experts, policymakers, and industry leaders to tackle Ghana’s pressing economic challenges—Mr. Commey highlighted that Ghana has about 100,000 hectares under cultivation. He stated that this new partnership will mobilize investors and industry resources from Nigeria to drive expansion.
He added that the initiative will enhance employment opportunities, providing direct jobs for 40,000 people while contributing to GDP growth, industrialization, expertise development, and knowledge transfer in Ghana.
Mr. Commey reiterated the call for a government-backed land bank to improve production and address 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 increase its support for the sector to unlock its full potential within local and regional markets.
The two-day National Economic Dialogue 2025 is chaired by President John Mahama and is centered on the theme: “Resetting Ghana: Building the Economy We Want Together.”