Harnessing the Potentials of Oil Palm Investments to Alleviate the Risk of the Dwindling Nigerian Economy: A Case of Southeast

Oil palm (Elaeis guineensis) is an indigenous tropical rainforest crop with little savannah belt. Great potentials exist for increasing the production, productivity and investment level of oil palm in Nigeria and globally. It is one of the best agricultural investments because great benefits are obtained from every part of it and it is most important food and economic oil crops in Nigeria and the world at large as wealth is generated from every part of the plant. The present economic downturn of the country due to policy diversion from agriculture to crude oil, the long - term rate of returns to investment and land tenure problems led to this study to ascertain the potentials of oil palm investments. An exploratory research design was adopted and secondary data was obtained from the review of literature of oil palm investments as to harness the potentials to alleviate the risk of the dwindling economy. This could be achieved through income diversification by bringing oil palm investment to the centre stage through investing in the planting of hybrid tenera which have been proven to mature early and produces more than the existing Dura and Pisifera species providing more foods, raw materials, income and employment generation and other uses including research and development for a sustainable and stable economy. Policies must be made by government to favour oil palm investment through expansion of secure land acquisition, distribution of tenera hybrid at a subsidized rate to investors and involve partnership with producers and other agencies.