Current Prices of Palm Oil in Nigeria Today (2024)

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Palm oil holds a significant place in Nigeria’s culinary landscape, serving as a staple in countless households. But beyond its use in cooking, this versatile commodity boasts a myriad of benefits and is a key player in various industries. Let’s delve into the world of palm oil, exploring its health advantages, market prices, and storage tricks in everyday language.

Understanding Palm Oil:

Derived from the oil palm fruit’s pulp, palm oil is cherished for its ability to enhance the flavor of dishes and provide a rich, red hue. However, its utility extends far beyond the kitchen. This multi-purpose oil finds its way into soap making, candle production, pharmaceuticals, and more, owing to its lubricating properties and versatility.

Current Palm Oil Prices in Nigeria

For those curious about the cost of palm oil across different Nigerian markets, here’s a snapshot:

  • Mushin Market, Lagos: Starting from N30,000 for 25 liters
  • Daleko Market, Lagos: Starting from N30,000 for 25 liters
  • Aguda Market, Lagos: Starting from N30,000 for 25 liters
  • Mile 2 Market, Lagos: Starting from N30,000 for 25 liters
  • Abuja Market: Starting from N40,000 for 25 liters
  • Port Harcourt Market: Starting from N35,000 for 25 liters
  • Enugu Market: Starting from N30,000 for 25 liters
  • Oyo Market: Starting from N30,000 for 25 liters

Factors Influencing Palm Oil Prices

Several factors sway palm oil prices in Nigeria, including seasonal fluctuations and geographical location. The harvest season, spanning March to May, often witnesses a surplus of palm oil, leading to lower prices. Conversely, scarcity during September to December drives prices up. Additionally, prices vary across regions, with the South Eastern and Niger Delta areas typically offering lower prices compared to the middle belt regions.

Unlocking the Health Benefits of Palm Oil

Palm oil isn’t just a kitchen essential; it’s a nutritional powerhouse packed with health perks:

  • Cancer Prevention: Rich in antioxidants, palm oil combats free radicals, lowering the risk of cancer.
  • Vitamin Boost: Loaded with vitamins K, E, and A, palm oil supports blood clotting, strengthens bones, and enhances vision.
  • Omega-3 Fatty Acids: These essential fatty acids aid in maintaining brain health, combating inflammation, and protecting against cognitive decline.
  • Energy Source: Providing sustained energy, palm oil fuels cellular function and hormone regulation.
  • Heart Health: Palm oil’s anti-thrombotic properties help prevent blood clots and promote cardiovascular well-being.
  • Pregnancy Support: During pregnancy, palm oil aids in fetal development and minimizes maternal health risks.

Storing Palm Oil: Tips for Longevity

If you’re considering delving into the palm oil trade or simply want to preserve your stash, follow these storage guidelines:

  • Maintain a consistent room temperature, ideally around 30 degrees Celsius.
  • Store palm oil in glass bottles or stainless steel containers to preserve its quality.
  • Aim to consume or sell palm oil within six months to a year to ensure freshness.


Palm oil stands as a cornerstone of Nigerian cuisine and industry, offering not only culinary delight but also a host of health benefits. Whether you’re a consumer, trader, or health enthusiast, understanding palm oil’s nuances empowers you to make informed decisions.

FAQs about Palm Oil:

Q: Is palm oil bad for health? A: When consumed in moderation, palm oil can be part of a balanced diet, offering various health benefits. However, excessive consumption may pose risks, so it’s essential to enjoy it in moderation.

Q: Can palm oil be substituted with other oils in cooking? A: Yes, palm oil can be replaced with other cooking oils depending on the recipe’s requirements and personal preferences. However, note that palm oil adds a distinct flavor and color to dishes, which may not be replicated with other oils.

Q: How can I identify high-quality palm oil? A: Look for palm oil that is vibrant red in color, with a fresh, nutty aroma. Additionally, opt for brands or sources known for their commitment to sustainability and ethical production practices.

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