Price of 25 Litres of Palm Oil in Nigeria (Buy Cheap)

This post is for those who wish to get started with the Palm oil processing and selling business. Again, If you are looking for the current price of 25 litres of Palm oil in Nigeria, you may consider this article worth reading.

Many years ago, some would have considered a palm oil business as something that is meant for the unschooled or uneducated.

However, with the increase in the acceptance of entrepreneurship by both the educated, undergraduate and uneducated, the palm oil business has seen rapid growth in Nigeria.

While that is said, you may ask, how do I start a palm oil business in Nigeria? If this is your question, rest assured that this article will address the questions of aspiring entrepreneurs of: “how to start a palm oil business in Nigeria.”

By the end, you will also discover where to buy palm oil in bulk in Nigeria

Palm oil is one of the commodities constantly in high demand in Nigeria. There is never a time it wouldn’t be a hot cake in the market and it is consumed at the same rate as rice and garlic. Red palm oil is a natural oil extracted from palm tree fruit.

You and I know the importance of red palm oil in Nigeria. No home that doesn’t cook with it and no tribe or religion that forbids it. It is generally accepted and widely used, not only in Nigeria but around the world.

Using palm oil for cooking has greater health benefits than vegetable oil as it is said to have a high concentration of vitamin E in the finest proportion.

Your body tends to get better health benefits as a result of the vitamin E present in the red palm oil rather than taking a commercial vitamin E capsule. It is also rich in carotene and possesses strong healing power.

Red palm oil is a natural oil extracted from palm tree fruit. You and I know the importance of red palm oil in Nigeria. No home that doesn’t cook with it and no tribe or religion that forbids it.

It is generally accepted and widely used, not only in Nigeria but around the world.

How To Start Palm Oil Business in Nigeria

To start a palm oil business in Nigeria, you can start with a small oil palm plantation now with even one acre of land with the aim of expanding later {60 palms per acre – 600 x ₦400 = ₦240,000}

– The 10 acres will require 5 bundles of wire collars for protection against animal attacks. Each bundle cost ₦20,000, 5 bundles = ₦100,000

– Professional mapping, protecting with the provided wire collar, accurate mark-in-out and planting of the whole 10 acres = ₦210,000, Estimated Total: ₦3,370,000.

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Before you start a palm oil business in Nigeria, you should consider these:

1. Secure a Shop

You will need a shop or any safe place for storage. If you have your own house, that will be nice, just dedicate one room for storage. However, it will be better if you can rent a shop specifically for it preferably near the market.

2. Look for Places to Buy

There are many places you can get palm oil very cheaply and in great quantity in Nigeria. It is available in bulk in various parts of Ondo State. It is also available in Edo State but the king of original, high-quality palm oil is Ebonyi State.

Travel around the states and source from the various local markets and local palm oil processors.

3. Transport Your Goods

If you have your own truck or van, that will be fantastic but if not, you’d have to make do with hiring. Buy everything you want to buy, get a truck to transport it to your base and store it in your shop.

4. Sell Your Goods

Wait until the price goes up then you open your shop and sell at a  very good price. It is a perfect way to invest the money instead of keeping it in the bank with peanut paid as interest on a fixed deposit. It is like buying property and reselling it at higher prices later.

The project scope can be higher or lower depending on the financial strength of the prospective investors.

Various private or corporate organizations can also set up this project and lease it out to individuals or corporate bodies on maturity.

It is a way of diversifying the economy and also creating jobs and income opportunities for people. It is also one of the strategies for food security in the country and is also in line with the transformation agenda of the country.

A matured plantation will annually start producing “4 Tonnes’ ‘per hectare of red palm oil from the fourth year after planting. 20 metric tonnes of oil can be obtained annually from 4 hectares(10 Acres) plantation. A tonne of red palm oil sells for a minimum of ₦2,400,000. Gross revenue of 12 Million is obtained from red palm oil.

We can also get 2.31 metric tonnes of palm kernel per hectare. This gives us 9.25 tonnes from 4 hectares(10 acres). This translates to an annual income of ₦5.550 million.

Total income realizable is about ₦17.550 million while the annual operating expenses are put at ₦5 million. This leaves us with a net income of ₦12.550 million annually for you as the investor for the rest of your life.

There are still other sources of income such as palm fronds and palm kernel shells

Investors are to note that the market is already eagerly waiting for you to bring in your finished goods regardless of how large the quantity is. The investors are fully welcome to be assisted in realising the worthwhile investment.

Where To Buy Palm Oil in Bulk (Cheap) in Nigeria

Here are some of the places you can get palm oil cheaply in Nigeria

1. Sero Palm Oil

Sero palm oil is the best palm oil and largest palm oil supplier in Nigeria. You can buy palm oil at wholesale price and large quantities from Sero palm oil.

Sero palm oil is owned and manufactured by the Sero Group in Nigeria. They supply palm oil to any location in Nigeria. If you are looking to buy quality palm oil at wholesale  price then Sero Palm Oil is the best to consider

You can contact them at 08059844173

Other places where you can get palm oil cheap in Nigeria include:

2. Imo State

• Orlu Market
• Afor Ogidi (Orlu)
• Orieagu Market
• Eke Obodoukwu Market (Ideato North)
• Eke Oha Market Onicha (Ezinihitte, Mbaise)
• Nwaorieubi Market
• Eke Opuma
• Nkwo Mmahu
• Afor-ajala market
• Orie Abacheke
• Mission Market Ezedibia
• Eke Umuagwo
• Ukwarasu Market
• Nkwo Amafor
• Obinze Vegetable Market
• Ahia Mgbirichi
• Eke Oforola market square
• Orie Umuokanne
• Nkwo Ihitte Market
• Ahia Ohoda
• Afor Inyishi (Ikeduru)
• Nkwo-Idemiri Amankwo Ebenator

3. Abia State

• Umuahia Ultramodern Market
• Ahia Ohu Market

4. Enugu State

• Gariki Market Enugu
• Eke Agbani, Market
• Nkwo Inyi Market
• Old Artisan Market
• Eke-Obinagu Market
• Ogbete Main Market
• Eke otu
• Amahausa Mini Market
• Eke-Aku Market
• Opi Junction Market
• Eke-Aku Market
• Afor Opi Market
• Ugbo-Odogwu Market
• Oji River Main Market
• Udi market
• Eke Mgbowo Daily Market

5. Anambra State

• Eke Market Amichi
• Nkwo Market
• Eke Nibo Market
• Afor- Udo Nanka
• Eke Oyinbo market And Park, Amawbia
• Eke Market Umuokpu Awka
• Ugwu Orie Market Ozubuku
• Orie Achina Market
• Ekenweje Market
• Uke Market
• Nkwo Market, Omor
• Eke Awgbu Market
• Ezi Ibi Market
• Okijah Market
• Ùgwù Órìè Market
• Azuiyi Udene, Abakaliki

6. Ebonyi State

• Abakaliki International Market
• Onueke Market
• Eke Market
• Ngele Market
• Effium Main Market
• Ndibe Beach Road, Afikpo
• Mgbom Market
• Ahia Ofu Market
• Omege Market
• Okwo Ngbo Market
• Nkwagu Market
• New Kpiri Kpiri Market
• Obubura Daily Market
• Ebem Daily Market
• Amebelu Market
• Biko Biko Market
• Egbizum, Morning Market
• Umunze St, Ntezi Abba, Abakaliki
• Eke Market, Oso Edda
• Ijiman Daily Market
• Agoi Ibami Central Market
• Nkwo Achara market
• Ikpa Commodity Market
• Max-lysa superstore LTD
• Mba Ise Market
• Rijo Untonko Market
• Eke Okigwe Market
• Ohaji Egbema Market
• Nkwo abo market

Read Also: Guide to Start Online Food Business

Where To Sell Palm Oil in Nigeria

For those who are already into the business, or those seeking out how to go about the palm oil business, and are wondering where to sell palm oil in Nigeria, the following companies are known for buying palm oil in large quantities.

• Information hood.
• Sunny Oil Nigeria Ltd.
• Planet Oil and Chemical Industries Ltd.
• PS Mandrides Plc.
• Phemson Nigeria Ltd.
• Emily Millionaire Cosmetics.

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Price of 25 litres of Palm Oil in Nigeria

The prices of palm oil across Nigeria range from ₦20,000 for 25 litres to ₦35,000 depending on the market which could be in Abuja, Akwa Ibom, Lagos or anywhere as of ending of 2023. It is worth considering with the festive period (December) coming up, the price will surely increase.

Another striking factor that could cause the hike in the price of 25 litres of this palm oil in Nigeria is inflation. The Naira to dollar exchange rate has constantly increased against the Naira.

Risk in Palm Oil Business in Nigeria

According to a recent study by Nature, replacing rainforests with oil palm plantations releases 61% of the carbon stored in the forest, mostly into the atmosphere. Each hectare of rainforest converted releases 174 tons of carbon.

Palm oil production has been associated with corruption, forced evictions and land-grabbing. It has sparked conflict with local communities, including indigenous peoples.

There have also been serious concerns about forced labour, child labour, and worker rights violations on some plantations.

The palm oil industry may not only be beneficial to the local economy, but it may also contribute to higher tax revenue. Some oil palm farmers do not have access to subvention or soft loans from the federal government despite palm oil being among the mandate crops of the federal government’s Anchor Borrowers’ Programme (ABP).

One of the major risks in the palm oil business in Nigeria is that after producing much, there is little room for export when Nigeria is a net importer of oil palm

• Read Also: How To Start Mini Exportation Business in Nigeria

Conclusion: Price of 25 Litres of Palm Oil in Nigeria (Where To Buy Cheap)

Conclusively, If you wish to get into the palm oil processing and selling business in Nigeria, I recommend that you ride on and explore the market. I have been resourceful enough to list some places to sell your Palm oil.

Lastly, the cost of buying 25 litres of palm oil is extremely high day by day so you should buy now from the available locations we have listed above and stock up.