List of top 10 agricultural products export cashcows for Nigeria

BY: Sandra Ani

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 as against 91.2 billion in the previous year.

Though, the statistics represents a 9% decline, the top ten products include:

1. Sesamum seeds, whether or not broken: In the first quarter of 2019, Nigeria made the sum of N39.6 ​​billion from the export of sesamum seeds.

2. Good fermented Nigerian cocoa beans: In the first quarter of 2019, Nigeria’s fermented cocoa beans ranked the second-biggest agricultural product export as it generated the sum of N20.1 billion.

3. Superior quality raw cocoa beans: The revenue made from the export of raw cocoa beans was estimated at N9.8 billion. The value recorded in Q1 2019 inched up from the N9.6 billion generated in Q4 of 2018.

4. Cashew nuts, in Shell: Cashew nuts are Nigeria’s 4th biggest agricultural export product. In the first quarter of 2019, the country generated a total sum of N4.3 billion. The product maintains the same spot it occupied in the last quarter of 2018.

5. Other frozen shrimps: Nigeria’s 5th biggest export product changed in the last quarter as frozen shrimps climbed two steps up. In Q1 2019, revenue generated from the export of frozen shrimps was estimated at N2.40 billion.

6. Other quality raw cocoa beans: In the first quarter of 2019, revenue made from the export of other raw cocoa beans was estimated at N1.39 billion. The product ranks Nigeria’s 6th biggest agricultural export product.

7. Ginger: Nigeria’s export market for ginger returned in the first quarter of 2019 after the ginger product did not make the list of Nigeria’s top agricultural export products in the last quarter of 2018. Meanwhile, it ranks Nigeria’s 7th biggest agricultural export products in Q1 2019, generating N1.35 billion.

8. Natural Cocoa Butter: Natural cocoa butter ranks Nigeria’s 8th biggest agricultural export product. The product generated the sum of N1.22 billion for the country.

9. Cashew nuts, shelled: Cashew nut export is Nigeria’s 9th biggest agricultural product export, generating the sum of N1.21 billion in terms of export revenue. Revenue generated dropped from the N1.67 billion generated in the last quarter of 2018.

10 Agro-food items: Agro-food items complete the top ten of Nigeria’s biggest agricultural products export. The product export rose to make the list for the top ten in Q1 2019 and generated the sum of N922.6 million.