By Victor Akinkuolie, Okitipupa

A University don, Professor Olujimi Folarin, has called on the federal, state, and local governments in Nigeria to prioritise and allocate more funds for the development of vegetable oil production, stressing that such a move would significantly contribute to the nation’s economic advancement.

Prof. Folarin, a senior lecturer in the Department of Industrial Chemistry at the Olusegun Agagu University of Science and Technology (OAUSTECH), Okitipupa, made the call on Thursday while delivering the institution’s 6th Inaugural Lecture.

Delivering the lecture titled “Vegetable Oil: A Veritable Industrial Raw Material,” Prof. Folarin described vegetable oil production as a vital aspect of agricultural development.

He emphasised that greater governmental attention in this area would not only cater to domestic consumption but also boost Nigeria’s foreign exchange earnings.

He particularly urged the Ondo State Government to focus on oil palm development by leveraging the abundance of palm trees in the southern senatorial district of the state, with a view to harnessing the economic potential inherent in the region.

The academic maintained that vegetable oil remains a critical resource, serving both as food and as an industrial raw material. He asserted that any government desirous of achieving economic stability and foreign exchange growth must explore and invest in this sector.

Prof. Folarin, who expressed deep concern over the worsening unemployment crisis among Nigerian youths, blamed the challenge partly on the government’s failure to invest in palm oil and vegetable oil production.

According to him, the educational system and current policies focus more on producing job seekers rather than job creators.

To address the challenges facing vegetable oil development, the don recommended several measures, including the constitution of scientific teams across the three tiers of government.

These teams, he said, would be responsible for the identification and documentation of non-conventional oil seed plants, noting that Nigeria’s flora is among the richest on the continent.

He also called for the provision of financial assistance and soft loans to farmers through cooperative groups, alongside improved access to financial services.

This, he said, would empower farmers to adopt modern technologies and better withstand economic shocks.

Describing vegetable oil as a renewable resource with the potential to replace petroleum feedstock in many industrial applications, Prof. Folarin lamented Nigeria’s low production levels, despite having over 70 per cent arable land.

He disclosed that global demand for vegetable oil is rapidly increasing, adding that Nigeria stands to earn millions of dollars in export revenue if its production is properly harnessed.

“There is a need to encourage vegetable oil production to meet local demand and for export, given its relevance as both food and industrial material,” he said.

“Sadly, the research-extension linkage system in the country is very weak. Innovations and technologies developed are not effectively transmitted to farmers or commercialised for the benefit of end users.”

Earlier in his address, the Vice Chancellor of OAUSTECH, Professor Temi Ologunorisa, described the event as a landmark in the university’s history.

He lauded the lecture topic as timely and relevant, especially in light of Nigeria’s current economic woes.

Prof. Ologunorisa expressed concern over the state of the economy in the last two years, citing a slowdown in economic activities, rising inflation, pervasive poverty, and high unemployment.

He charged policymakers to consider investment in vegetable oil production as a viable strategy for achieving national economic recovery and prosperity in the near future.

The lecture, which was held at the Oluwarotimi Akeredolu Auditorium on the main campus of OAUSTECH in Okitipupa, attracted a cross-section of the university community including staff, principal officers, students, friends, and family members of the inaugural lecturer.