Over 100 Imported Vegetable Oil Brands Continue to Dominate Local Market Despite Ban — Ikoro

….Accuses Customs, NAFDAC, SON of enforcement failure

By Cynthia Alo

Despite vegetable oil remaining on the Federal Government’s prohibition list under the 2026 fiscal policy measures, Okey Ikoro, National Chairman of the Vegetable/Edible Oil Producers Association of Nigeria (VEOPAN), said that more than 100 imported oil brands continue to dominate the local market. He warned that this situation threatens investments and discourages backward integration in the sector.

Speaking on Arise News, Ikoro revealed that association members intercepted three trailers two days ago that were transporting smuggled vegetable oil through the Badagry axis.

Ikoro, while reviewing the impact of the 2026 fiscal policy measures on Nigeria’s vegetable oil sector, accused the Nigeria Customs Service, the National Agency for Food and Drug Administration and Control (NAFDAC), and the Standards Organisation of Nigeria (SON) of failing to enforce the ban.

He said: “The 2023 fiscal policy definitely placed vegetable oil under prohibition and a lot of milestones were gained because it was a long‑time policy from 2023 to 2026. A lot of companies went into backward integration; huge companies like Okomu, Presco, and PZ Wilmar all expanded because the policy gave protection to the industry.”

“But two years later, entering 2024 and 2025, there was a total collapse of implementation on the part of the agencies that were supposed to monitor the fiscal policy, especially in the area of prohibition of items. We noticed that the markets were flooded with imported vegetable oil despite the fact that the item was under prohibition. If you go into the local market, you will see more than 100 brands of vegetable oil coming in from outside the country, in yellow jerry cans with funny labels. Nobody is monitoring. NAFDAC is not doing its job.”

“This resulted in a lot of losses and setbacks for the companies. Companies would have borrowed huge sums of money to invest in their backward integration because oil palm is a long‑gestation investment. Before you can start getting returns, it takes a minimum of five years.”

He questioned the quality and safety of the imported products, saying, “All the vegetable oils produced in Nigeria are regulated. NAFDAC visits the factories regularly and tests the products to ensure they meet fortification and quality standards. But the imported oil just comes in and nobody is monitoring it. They do not carry NAFDAC numbers or labels, yet they are all over the market.”

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