Nigeria, Malaysia Palm Oil Trade Stood at $600m in 2024

The High Commissioner of Malaysia to Nigeria, Aiyub Omar, has said that the thriving palm oil trade between Malaysia and Nigeria has significantly enhanced bilateral relations between the two countries.

Omar who disclosed this in Abuja during a chart with newsmen, noted that the growth in palm oil trade reflects a strong commitment to agricultural collaboration and has also spurred increased interest from foreign investors eager to tap into Nigeria’s agricultural potential.

According to him, approximately 50 percent of Malaysia’s exports to Nigeria consist of palm oil, accounting for an export value of 600 million dollars in 2024.

The envoy recalled a visit to Calabar in May 2025, where he met with members of the Malaysian diaspora, many of whom are actively involved in Nigeria’s palm oil sector.

“There are around 50 Malaysians currently residing and working in Nigeria, with a significant concentration in Lagos and a growing presence in Calabar,” Omar said.

He added that the Malaysian community in Nigeria is primarily composed of business professionals engaged in agriculture, particularly in the management of palm oil plantations, which are closely linked to the ongoing trade between both nations.

Omar further stressed that agricultural collaboration between Malaysia and Nigeria is focused on enhancing productivity and efficiency in palm oil cultivation, marking a positive step in bilateral trade relations.

Omar said the Malaysian High Commission is working relentlessly to encourage increased foreign investment in Nigeria’s broader agricultural sector, in addition to promoting palm oil exports.

“With the rising global demand for palm oil, there are significant opportunities for diversification and investment, which can benefit both Malaysia and Nigeria,” he said.

Tags: exports, trade, Malaysia, palm oil, Nigeria