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Stakeholders in the Nigerian oil palm industry have launched the national interpretation of the Roundtable on Sustainable Palm Oil (RSPO) for the country.
RSPO requires palm oil producing countries to develop their respective national interpretation of the RSPO principles and criteria which stakeholders in the oil palm supply chain would be accessed and endorsed for RSPO certification.
For Nigeria oil palm firms to be able to source finance from financial institutions and the International Finance Corporation (IFC), it must have the RSPO certification, which is a requirement for them.
“The RSPO is developed by a set of principles and criteria that defines practices for sustainable palm oil production. These standards address the legal, economic, environment and social requirements of producing sustainable palm oil,” Fatai Afolabi, facilitator, RSPO Initiative Nigeria, said at a recent press briefing held in Lagos.
“This would ensure that oil palm plantation owners minimise their environmental footprint and that basic rights of local land owners, farm worker and indigenous people are fully respected,” Afolabi said.
According to the Stakeholders in the palm oil supply chain, the RSPO national interpretation will help build sustainability in the country’s palm oil industry.
Since losing its position as one of the world’s largest palm oil producers, efforts are being geared to ensure that the country takes back its place in the comity of crude palm oil producing nations and one of such ways is the launch of the country’s RSPO national interpretation.
“We need to start producing palm oil in a sustainable way if we are to take back our position in global palm oil production,” he said.
Nigeria currently produces about 970,000 metric tons of CPO, while local consumption is estimated at 2.7 million tons per annum, indicating an estimated demand-supply gap of over 1.7 million MT.
Josephine Okojie
