Ghana’s oil palm industry is set for a major boost as Oro Oil Ghana has entered into a 10-year partnership with Nigerian investors to enhance production, market expansion, and technological advancement.
The collaboration aims to reduce reliance on traditional methods and improve the income of smallholder farmers.
Beyond trade, the agreement will bring Nigerian investment, expertise, and machinery to Ghana’s oil palm sector. The country boasts over 10,000 hectares of cultivable land, an affordable workforce, and access to a large market through the African Continental Free Trade Area (AfCFTA).
Ghana’s oil palm production has suffered due to neglect and inadequate investment, leading to a decline in exports. The Oil Palm Development Association of Ghana reports that the country’s export volume for 2024 dropped by over 50%.
The sector’s decline is attributed to a lack of government support, poor planting materials, and technological gaps.
For Nigeria, where palm oil consumption stands at approximately three million metric tons annually, the partnership with Oro Oil Ghana aligns with its growth and export-driven strategy.
The collaboration will focus on international best practices to attract investors and boost market confidence. Oro Oil Ghana remains Ghana’s largest exporter of palm oil to Nigeria.
Speaking at the National Economic Dialogue 2025 in Accra, Oro Oil Ghana CEO, Maxwell Commey emphasized the significance of the partnership. He noted that Ghana currently has about 100,000 hectares of planted oil palm, and the new deal will mobilize investors and resources from Nigeria.
“This will create direct employment for 40,000 people, drive industrialization, and facilitate knowledge transfer,” Mr. Commey stated.
He also reiterated the need for the government to establish a land bank to improve production and address a supply gap of approximately 250,000 metric tons.
“This partnership is a confidence booster for Oro Oil Ghana and the economy at large. We urge the government to step up support to help harness the full potential of the sector within the local and regional markets,” he added.
The two-day National Economic Dialogue, chaired by President John Mahama, is focused on the theme “Resetting Ghana: Building the Economy We Want Together.”