Companies That Buy Palm Oil in Nigeria

Introduction

Palm oil is a cornerstone of Nigeria’s agricultural economy, with the country ranking as the fifth-largest producer globally, yielding approximately 1.4 million metric tons in 2023. The oil, derived from the mesocarp of oil palm fruit, is a vital ingredient in Nigerian cuisine, cosmetics, pharmaceuticals, and industrial products like soaps and biofuels. Nigeria’s palm oil industry is concentrated in the South-South and South-West regions, particularly in Edo, Delta, Ondo, and Oyo states. Despite significant domestic production, Nigeria imported 350,000 metric tons of palm oil in 2018 to meet local demand, indicating a robust market for both local and imported palm oil. This article provides a detailed overview of companies in Nigeria that purchase palm oil in large quantities, their sourcing preferences, applications, and contact information where available.

Major Palm Oil-Buying Companies in Nigeria

1. Sunny Oil Nigeria Limited (Lagos)

Overview: A leading buyer of palm oil and other agricultural products, Sunny Oil Nigeria Limited is a key player in the food production sector.
Sourcing Preferences: Purchases crude palm oil (CPO) and palm kernel oil (PKO) from local farmers in regions like Edo, Delta, and Ondo. They prioritize high-quality, unadulterated palm oil with low free fatty acid (FFA) content.
Applications: Supplies palm oil for food manufacturing, including cooking oils and processed foods.
Contact:
- Address: 133, Isolo Road, Mushin, Lagos State
- Phone: +234-1-522815
- Website: Not publicly available

2. Planet Oil and Chemical Industries (Abia)

Overview: Based in Abia State, this company is known for both purchasing and processing palm oil and palm kernels.
Sourcing Preferences: Sources palm oil and kernels from local producers in Abia, Imo, and other South-Eastern states. They have facilities to crush palm kernels and refine oil, making them a significant buyer of raw palm products.
Applications: Produces refined palm oil for food, cosmetics, and industrial applications like soap production.
Contact:
- Address: 4, Aba-Enugu Expressway, Aba North, Abia State
- Website: Not publicly available

3. Om Oil Industries Limited (Lagos)

Overview: A well-established company in Ikeja, Om Oil Industries buys and retails palm oil and related products, and also supplies equipment for palm oil processing.
Sourcing Preferences: Sources from local farmers in Lagos and nearby states like Ogun and Ondo. They focus on bulk purchases of crude palm oil and palm kernels.
Applications: Supplies palm oil for food processing and industrial uses, including confectionery and soap manufacturing.
Contact:
- Address: Acme Industrial Estate, Ogba, Ikeja, Lagos State
- Website: Not publicly available

4. Phemson Nigeria Limited (Lagos)

Overview: Located in Iyana Ipaja, this company specializes in purchasing palm kernels and palm oil for food and industrial applications.
Sourcing Preferences: Sources from producers in Lagos, Ogun, and South-South states like Delta and Rivers. They emphasize consistent supply and quality.
Applications: Uses palm oil for producing edible oils and Banga oil, a popular ingredient in Nigerian soups.
Contact:
- Address: 176 Abeokuta Expressway, Iyana Ipaja, Lagos State
- Website: Not publicly available

5. Emily Millionaire Cosmetics (Lagos)

Overview: A prominent cosmetic manufacturer in Lagos, Emily Millionaire Cosmetics relies on palm oil and palm kernel oil for beauty product formulation.
Sourcing Preferences: Purchases high-quality palm kernel oil from local suppliers in Lagos and Delta, focusing on specifications suitable for cosmetic-grade products.
Applications: Produces cosmetics like creams, soaps, and lotions using palm oil derivatives.
Contact:
- Address: Lagos, Nigeria (specific address not publicly listed)
- Website: Not publicly available

6. Zenith Bank PLC (Nationwide)

Overview: While primarily a financial institution, Zenith Bank PLC is listed as a major importer of palm oil, facilitating large-scale transactions for industrial clients.
Sourcing Preferences: Imports palm oil from international suppliers (e.g., Malaysia, Indonesia) and local producers, handling 46% of Nigeria’s palm oil import shipments from March 2023 to February 2024.
Applications: Supplies palm oil to food processing, cosmetics, and biofuel industries.
Contact:
- Website: Zenith Bank
- Email: zenithdirect@zenithbank.com
- Location: Head Office, Plot 84, Ajose Adeogun Street, Victoria Island, Lagos

7. Oro Palm Oil Enterprises (Nationwide)

Overview: A significant player in Nigeria’s palm oil trade, Oro Palm Oil Enterprises accounted for 14% of palm oil import shipments from March 2023 to February 2024.
Sourcing Preferences: Sources both locally from Delta, Edo, and Akwa Ibom, and internationally, focusing on crude and refined palm oil.
Applications: Distributes to food manufacturers, soap producers, and export markets.
Contact:
- Website: Not publicly available
- Location: Nigeria (specific details not listed)

8. Halley Ome Agro Ventures Limited (Nationwide)

Overview: This company is among the top three importers of palm oil in Nigeria, with an 11% share of import shipments from March 2023 to February 2024.
Sourcing Preferences: Imports from global suppliers and buys locally from smallholder farmers in South-South states.
Applications: Supplies palm oil for industrial processing, including food and non-food products like detergents.
Contact:
- Website: Not publicly available
- Location: Nigeria (specific details not listed)

Market Dynamics

Production and Demand: Nigeria produced 1.4 million metric tons of palm oil in 2023, with consumption reaching 1.8 million metric tons in the 2021/2022 crop year, necessitating imports. Major producing states include Edo, Delta, Ondo, and Akwa Ibom, where companies source from smallholder farmers and large plantations.
Applications: Palm oil is used in:
- Food Industry: Cooking oils, margarine, and traditional soups (e.g., Banga).
- Cosmetics: Soaps, lotions, and creams (e.g., Emily Millionaire Cosmetics).
- Industrial: Soap, detergents, and biofuels.
- Animal Feed: Palm kernel cake for poultry and fish rations.
Sustainability: Companies like Okomu Oil Palm Company PLC emphasize sustainable practices, such as RSPO certification, to meet global standards. Buyers increasingly prefer certified sustainable palm oil (CSPO) to align with environmental and social responsibility goals.
Challenges: High import costs, environmental concerns (e.g., deforestation), and competition from international suppliers like Malaysia and Indonesia pose challenges.

How to Connect with Buyers

Local Sourcing: Suppliers can connect with buyers by visiting palm oil-producing regions like Isoko, Urhobo, and Ukwale in Delta State, or contacting companies directly via provided contact details.
Online Platforms: Platforms like Volza list 153 active palm oil buyers in Nigeria, offering detailed shipment data and contact information for a subscription fee. go4WorldBusiness connects suppliers with buyers, allowing direct quotations.
Specifications: Buyers often require palm oil with low FFA (5% max), minimal moisture and impurities (0.1% max), and specific iodine and saponification values.
Networking: Engage with cooperatives like FLAP Multipurpose Cooperative, which partners with over 300 farmers to source and store palm oil for buyers.

Conclusion

Nigeria’s palm oil market is vibrant, with companies like Sunny Oil, Planet Oil, and Om Oil Industries driving demand through local sourcing, while importers like Zenith Bank PLC and Oro Palm Oil Enterprises bridge the gap with international supplies. The industry supports diverse applications, from food to cosmetics, and is underpinned by Nigeria’s rich palm oil-producing regions. Suppliers can tap into this market by ensuring quality, meeting sustainability standards, and leveraging trade platforms or direct outreach. For further details, contact the listed companies or explore platforms like Volza for comprehensive buyer directories.