ISSN 2375-0693
African Journal of Agricultural Economics and Rural Development ISSN: 2375-0693 Vol. 3 (4), pp. 217-225, May, 2015. © International Scholars Journals
Review
Paradigm shifts and the new opportunities offered by foreign direct investment in Oil palm marketing in Cross River state
Egbovwe T. Henry
Department of Agricultural Economics, Faculty of Agriculture, University of Port Harcourt, Port Harcourt, Nigeria.
E-mail: [email protected]
Accepted 6 April, 2015
Abstract
Nigeria’s first goal is to meet the domestic demand and then if possible, seek to become competitive export market in palm oil production. Nigeria is potentially competitive in the domestic market if oil palm sector productivity is increased by shifting the technology frontier further. Transformation of the oil palm industry would enhance the overall economic development through the income and employment effects in the rural and urban economies. This paper seeks to present the paradigm shifts and the new opportunities offered by foreign direct investment in Cross River state. The objectives of the paper are to: Review the Nigerian Economy in perspective Vis-a Vis the oil palm industry in relation to the Malaysian oil palm industry (policy Regimes), highlight the new opportunities in Cross River State and draw lessons from the Malaysian experiences. The paper recommended Fiscal discipline in managing the revenues generated from the sale of estates in the short-term, a strong and vibrant industrial policy on the foreign direct investment, and a vibrant export-led growth policy and tax regimes for revenue generation.
Key words: Oil palm products, marketing, paradigm shift.