Oro Oil Ghana Signs 10-Year Deal with Nigerian Investors to Revive Oil Palm Industry
Accra, Ghana - 05 March, 2025 - A 10-year partnership between Ghana's Oro Oil and Nigerian investors is poised to revitalize Ghana's ailing oil palm industry.
The deal, announced at the National Economic Dialogue 2025 in Accra, aims to modernize farming techniques, increase production, and expand markets.
The partnership between Ghana's Oro Oil and Nigerian investors is expected to bring significant investment, expertise, and machinery to Ghana's oil palm sector. Ghana's favorable business environment, including access to the African Continental Free Trade Area (AfCFTA), is seen as a major draw for Nigerian investors.
The collaboration aims to modernize farming techniques, expand markets, and increase production, with the goal of reducing Ghana's reliance on traditional methods and boosting smallholder farmers' incomes.
Ghana's oil palm production has declined significantly in recent years, with exports dropping by over 50% in 2024. However, the new partnership is expected to create employment opportunities, generate 40,000 direct jobs, and contribute to GDP growth and industrialization.
Maxwell Commey, Chief Executive Officer of Oro Oil Ghana Limited, hailed the partnership as a "confidence booster" for the industry. He emphasized the need for government support to ensure the sector reaches its full potential.
According to him, the partnership will foster growth in Ghana's palm oil industry and establish mutually beneficial cooperation.
“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,” Commey stated.
Source: Lead News Online
