Nigeria plans to invest 180 billion naira ($500 million) to increase its palm oil production from around 600,000 tons a year to 5 million tons a year by 2027, reports Bloomberg.

The policy, laid out in a report from Nigeria’s trade and investment ministry, aims to meet all of the country’s domestic palm oil demand by 2027. It says the move, which would double Nigeria’s palm oil estate to 6 million hectares, would “deliver 225,000 full time jobs and at least 450,000 seasonal jobs”. Read more.