Ghana is set to restore the glory of its oil palm industry as Oro Oil Ghana has secured a 10-year partnership deal with Nigerian investors to explore production potential, expand market reach, and modernize the sector.
The agreement aims to reduce reliance on traditional methods while boosting the income of smallholder farmers.
Beyond trade, this strategic partnership will bring Nigerian oil palm investments, expertise, and machinery to Ghana, complementing the country’s favorable conditions for cultivation.
With over 10,000 hectares of plantation land, an affordable and abundant workforce, and access to a large market through the African Continental Free Trade Area (AfCFTA), Ghana presents a strong investment opportunity.
Due to years of neglect and a lack of strategic investment in the subsector by successive governments, Ghana’s oil palm production capacity has dwindled. According to the Oil Palm Development Association of Ghana, oil palm exports for 2024 dropped by more than 50%.
For their Nigerian counterparts, Ghana’s growth and export-driven strategy must incorporate international best practices to attract investors, enhance market confidence, and sustain long-term development. Nigeria currently consumes approximately three million metric tons of palm oil annually, with Oro Oil Ghana being the largest exporter of Ghanaian palm oil to Nigeria.
Maxwell Commey, CEO of Oro Oil Ghana Limited, attributed the sector’s decline to inadequate government support, poor-quality planting materials, and a technological gap.
Speaking at the highly anticipated National Economic Dialogue 2025 at the Accra International Conference Centre—an event that convenes top economic experts, policymakers, and industry leaders to address Ghana’s economic challenges—Mr. Commey emphasized the significance of the new partnership.
He noted that Ghana currently has about 100,000 hectares of cultivated oil palm, and this collaboration will mobilize investors and industry resources from Nigeria to drive further expansion.
He added that the initiative would create employment opportunities, with an estimated 40,000 direct jobs along the value chain. Additionally, it is expected to contribute to Ghana’s GDP, industrialization, expertise development, and knowledge transfer in the oil palm sector.
Mr. Commey reiterated his call for the government to establish a land bank, which would help improve production and bridge 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,” he stated.
He further urged the government to increase its support for the sector to fully harness its potential within both local and regional markets.
The two-day National Economic Dialogue 2025, chaired by President John Mahama, is being held under the theme: “Resetting Ghana: Building the Economy We Want Together.”
