Nigeria’s agricultural export stood at N127.2
billion in the first three months (January – March) of 2021. This represents a
128% increase compared to N55.8 billion recorded in the previous quarter (Q4
2020).
Sesame seeds, fermented cocoa beans, and cashew
nuts led the list of top agro-food exports in Q1 2021, jointly accounting for
66.5% of the total agricultural exports.
This is according to the foreign trade report
for Q1 2021, released by the National Bureau of Statistics.
§ In contrast to the N127.1 billion recorded in the corresponding
period of 2020, this represents a 0.07% increase and the highest on our
tracker, since Q1 2016.
§ However, as agricultural export increased in the review period, importation
of agricultural items also surged by 140.5% year-on-year, and an 18.4% increase
quarter-on-quarter.
§ Although crude oil still accounts for the larger part of Nigeria’s
export earnings with 66.38%, agriculture still remains the base of Nigeria’s economy,
providing the main source of livelihood for most Nigerians.
§ The sector remains the largest sector of the Nigerian economy and employs about two-thirds of the entire labor force in the country.
However, expected growth has been significantly
impeded by production hurdles despite government interventions in the sector.
According to the Food and Agricultural Organization of the United Nations, over
the past 20 years, value-added per capita in agriculture has risen by less than
1% annually.
It is also estimated that Nigeria has lost
about $10 billion in annual export opportunities from groundnut, palm oil,
cocoa, and cotton alone as a result of the decline in the production of these
commodities.
It is worth noting that Nigeria exported agricultural
products worth N321.5 billion in 2020, representing a 19.16% increase when
compared to N269.8 billion recorded in 2019 and a 6.27% increase compared to
N302.28 billion recorded in 2018.
Top Agro export in Q1 2021
- Sesamum seeds – N41.94 billion
Top on the list is Sesamum seeds with an
estimated export value of N41.94 billion in Q1 2021. Sesame seed comes from a
flowering plant mostly grown in Northern Nigeria due to the drought-resistant
nature of the seed.
It has many uses, but perhaps, its most
important use is as a source of sesame oil which is the most demanded vegetable
oil in the world because of its zero cholesterol content.
Nigeria has been one of the highest sesame
seed-producing countries over the years, making the seed an important component
of the country’s agricultural export. Recall that Nigeria exported sesame seeds
valued at N98.27 billion in 2020.
- Cocoa beans – N35.49 billion
Cocoa stands second on the list with an export
value of N35.49 billion. It is worth noting that this estimate includes good
fermented Nigerian cocoa beans and superior quality raw cocoa beans.
Cocoa is a small perennial tree crop that
primarily comes from the three tropical regions in the world; Southeast Asia,
Latin America, and West Africa. Cote d’Ivoire is the single largest producer of
cocoa beans, accounting for approximately 31% of the world’s supply.
- Cashew nuts – N13.71 billion
Nigeria exported cashew nuts (both in-shell and
shelled) valued at N13.71 billion in Q1 2021. Cashew is a tree crop that has
been cultivated for food and medicine for many years.
The various parts of the cashew fruits are of
economic value, which includes apple, nut, and kernel. The primary product of
cashew nuts is the kernel, which is the edible portion of the nut. Kernels are
used for various end products, which include chocolates, ice creams, cakes,
sweets and even for medicinal purposes.
- Coconuts – N8.66 billion
Coconut export in the review period stood at
N8.66 billion, representing the fourth-highest agro-export. Coconut is a cash crop
that is grown in 22 of Nigeria’s 36 states and its production is limited to the
south-western part of the country, with Lagos State having the largest
production area.
Coconut serves as a raw material for numerous
industries, such as pharmaceuticals, cosmetics and food, and beverage, with
limitless domestic and export potential; coconut consumption, however, has
continued to rise with the growing population, especially dry coconut which is
consumed in the northern part of the country.
- Ginger – N5.57 billion
Ginger stands fifth on the list with an export value of N5.57 for the review period. According to FAO and quoted by the Nigerian Export Promotion Council (NEPC), Nigeria accounts for 40% of the global ginger production, producing almost 523,000 metric tonnes annually.
Others
- Sesame oil – N3.42 billion
- Palm nuts and kernels – N2.75 billion
- Shea cake – N1.79 billion
- Soya bean – N1.72 billion
- Frozen shrimps and prawns – N1.29 billion
Summary
Despite agriculture being the major primary occupation of most Nigerians, the country is yet to solidify its position in the world in terms of food production both for local consumption and export. Nigeria still spends more on the importation of agricultural items compared to our export value.
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