Top 10 Agricultural Products For Exports In Nigeria

Nigeria, as many other African countries is richly blessed with an abundance of Natural resources, ranging from crude oil, agricultural produce, tin and other valuable mineral deposits. Even with these, there is still a wide gap between what is exported outside the shores for revenue generation compared to what is imported. There exists little or no export related revenue generation from these. 

According to the NBS (National Beaurau Of Statistics) - The latest foreign trade data released by the National Bureau of Statistics (NBS) shows that the top ten agricultural products exported from Nigeria are estimated at N82.3 billion.

There is a 9% decline in the revenue made from the top 10 agricultural products in the first quarter of 2019, while the revenue of agricultural products export dropped from N91.2 billion generated in the last quarter of 2018, to N82.3 billion. 

A major cause is the over dependence on crude oil exportation, howbeit that avenue still does not generate the expected revenue due to the fact that, the raw crude is exported and bought back as refined petroleum product(s). The availability of other natural resources which can stand to generate revenue for the country is something which needs looking into. 

Without further ado, let's take a look at these other natural products. 

1 Cocoa Beans 

Cocoa Beans - In it's raw form, has been and will continue to be a great earner for the Nigerian economy, Presently Nigeria is the fourth largest grower of cocoa with 250,000 metric tonnes, according to data from the International Cocoa Organization. 

According to the NBS, the value of superior-quality cocoa beans (best quality) exported in nine months stood at N119.69 billion, accounting for 27.99 percent of total agricultural exports in Nigeria within the same time frame. 

Area Of Sales - Netherlands, Belgium, Germany, Indonesia, USA, Malaysia, and Canada. 

2  Cashew Nuts 

Internationally, Nigeria ranks among the top countries for cashew produce. Nigeria, according to the NEPC, is a leading exporter of premium quality raw cashew nuts, with an estimated average of 48 kernel yield. It is worthy to note that the country earned a sum of N16.93 billion from the exportation of cashew nuts shelled between January and September 2022. This accounted for 3.96 percent of the total agric export value in the period under review. 

According to data released by the NCAN (National Cashew Association of Nigeria), the country earned about N14 billion from the export of cashew in 2021 alone, and is in the process of doubling the annual production of the commodity to 1,000,000 metric tonnes yearly. 

Area of sales - Vietnam, India, USA, UK and Nepal. 

3. Cocoa Butter 

Natural cocoa butter has been said to have a possible and lucrative foreign market. 

Nigeria exported natural cocoa butter in the region of N11.17 billion from January to September of 2022, to countries such as Germany, Netherlands, and Estonia, accounting for 2.61 percent of the total agricultural exports. 

Area Of Sales - France, Turkey, Poland and Canada. 

4.  Shrimps And Prawns 

Shrimps and prawns are abundant in the Nigeria water ways, these food commodity is a delicacy for most foreign countries such as France, Belgium, USA, UK, the Netherlands amongst others, as it is a necessity for sea food salads and meals. 

Nigeria exported frozen shrimps and prawns at a value of N10.53 billion in the period under review. So as we can see, it can be a way of generating revenue for the country. 

Areas Of Sales - France, USA, UK, Belgium, Netherlands amongst others. 

5.  Coconuts 

With an abundance of fertile soil, the coconut export business (Desiccated coconut is the grated and dehydrated coconut shaft, usually drier than shredded coconut, which is mainly used in the bakery and confectionery industries), can be really used as a verifiable source of revenue generation. According to available data suggests - 

Desiccated coconuts amounting to N13.86 billion were exported to Vietnam and India in the first six months of 2022, accounting for 3.24 percent of the total agricultural exports in the period. The country did not export the commodity in Q3 (Quarter three). 

Area of sales - Major European countries. 

6.  Sesamum Seeds 

Nigeria is ranked among the top growers and cultivators of sesamum Seeds on a global scale, thus making this seed a major part of the countries export plan going forward. Globally the ever rising demand for sesamum seed is steadily on the Upward spiral, which directly means revenue generation. 

The country's exportation of sesame seeds from January to September stood at N101.29 billion, accounting for 23.69 percent of the country’s total agric exports within the period reviewed. China was a major importer. 

Area of sales - China, Vietnam, Japan, Greece, Germany and Turkey. 

7. Ginger 

The edibel food crop, mostly used in spicing of food and for medicinal purposes had a value rate of N11.32 billion Naira exported between January to September. 

Its exports accounted for 2.65 percent of the N427.6 billion total agro-foods exports in the period. 

Citing statistics from the Food and Agriculture Organisation, Nigeria accounts for 40 percent of global ginger production, producing almost 523,000 metric tonnes annually. 

8. Agro Food Items 

These are food products such as, nuts, seeds, dried fruit, grains and many more. 

The product export rose in Q1 (Quarter one) of 2019 and generated the sum of N922.6 million. These can be a source of revenue generation if taking into consideration and implemented. 

9. Cassava 

Cassava is not only a staple of the Nigerian diet (as garri), but can also be used as revenue generation if exported globally. 

In 2021, Nigeria exported $1.02M in Cassava. The main destinations of Nigeria exports on Cassava were United Kingdom ($327,000), Ghana ($186,000), Spain ($166,000), Canada ($86.6,000), and United States ($79.4,000). 

Area of sales - UK, USA, Spain, Ghana and Canada. 

10.  Marijuana 

Though not a food item, it can be used for other legal purposes other than what it is been largely used for presently, which is recreational smoking in other to elicit feelings of highness. Marijuana can be used for medicinal purposes as well as in small doses for recreational purposes. There is a growing market worldwide for these plant which is grown in abundance in the country presently. 

Area of sales - Outside the shores of the country. 

It is no news that Nigeria has a rich supply of agricultural produce and agro products which can be used as a major source of revenue generation if policies can be put in place to increase the current strides made in there exportation.