In a bid to strengthen its agribusiness drive and ensure sustainable execution of its flagship Palm City Project, set to become Nigeria’s largest community-owned oil palm estate network, Xymbolic recently embarked on an educational visit to two of the nation’s most reputable oil palm institutions: the Nigerian Institute for Oil Palm Research (NIFOR) and Okomu Oil Palm Company Plc.
The delegation, led by Xymbolic’s Chief Executive Officer, Mr. Olisa Umerah, and the company’s Head of Agribusiness, engaged with experts at both institutions to gain insights into oil palm research, plantation management, large-scale processing, and community development strategies.
Mr. Umerah described Palm City as: “A fusion of agriculture, real estate, and industry. Palm City is designed to be Nigeria’s largest community-owned oil palm estate network, where individuals and communities co-own different parts of the value chain from planting to processing to profit sharing. It is both a profitable investment and a community development project”
The Palm City Project will eventually span multiple locations across Nigeria, with land parcels structured in acres and hectares, each tied to fully managed oil palm cultivation. At the heart of each Palm City hub will be modern processing mills, ensuring that output from plantations is transformed efficiently into market-ready and export-ready products. Revenues will flow from produce sales and agro-processing, while a portion of profits will be reinvested into schools, housing, healthcare, roads, and industrial facilities in and around the estates.
At Okomu Oil Palm Company, the team toured plantation facilities and interacted with senior officials on operational structures, outgrower schemes, and strategies for large-scale processing. At NIFOR, the team engaged with experts on best practices for establishing and managing oil palm plantations, agronomy techniques, and innovations driving the industry forward.
Mr. Umerah emphasized Palm City’s dual mission of profitability and impact: “Palm City is being built as a generational project. It delivers returns for investors, creates jobs for farmers and workers, and builds infrastructure for host communities. We want to demonstrate that large-scale agribusiness in Nigeria can be inclusive, sustainable, and transformative.”
The visits to NIFOR and Okomu underscore Xymbolic’s commitment to grounding Palm City in research, industry expertise, and visionary planning. When complete, Palm City will stand as Nigeria’s largest community-owned oil palm estate network, a multi-location model proving that agriculture can drive prosperity and shared ownership nationwide.
