Nigeria’s agricultural exports increased by 57.02 percent to N504.9 billion in 2021, up from N321.5 billion the year before, marking the greatest agro-export income on record.
This is based on statistics from the year’s foreign trade report from the National Bureau of Statistics.
Nigeria, on the other hand, imported agro-food commodities worth N1.97 trillion in the same year, resulting in a N1.46 trillion deficit. Despite enormous interventions and investments in the Nigerian agriculture industry, this is the case.
Nigeria’s agricultural trade imbalance reached its greatest level in 2021, resulting in a N1.94 trillion negative balance in the review year, as the country’s import bill increased to N20.8 trillion from N18.9 trillion in exports. As a result, the agriculture trade deficit accounts for 74.3 percent of the overall trade deficit.
In 2021, the top agricultural export would be coco beans, worth N209.9 billion.
In 2021, Nigeria sold N209.89 billion worth of cocoa beans, representing for 41.6 percent of the country’s overall export profits. According to the NBS data, Nigeria exported excellent quality raw cocoa beans worth N37.42 billion and well-fermented cocoa beans for N209.9 billion.
Cocoa is a small perennial tree crop native to the world’s three tropical regions: Southeast Asia, Latin America, and West Africa. Cote d’Ivoire is the world’s largest producer of cocoa beans, accounting for over 31% of global production.
Seeds of sesamum – N113.2 billion
Sesamum seed exports grew to N113.2 billion in 2021, up from N98.27 billion the previous year. Sesamum seed exports made up 22.4 percent of overall exports throughout the period.
Sesame seed comes from a blooming plant that is mostly grown in Northern Nigeria due to its drought resistance.
It has a variety of purposes, but possibly the most important is as a source of sesame oil, the world’s most popular vegetable oil due to its low cholesterol content.
Nigeria has long been one of the world’s top sesame seed producers, making the seed a key part of the country’s agricultural export.
N72.8 billion in cashew nuts
Nigeria exported N72.8 billion worth of cashew nuts in 2021, accounting for 14.4% of total export value. The export of in-shell cashew nuts generated N55.6 billion, while shelled cashew nuts generated N17.2 billion, according to the disaggregated statistics.
Cashew is a tree crop that has long been farmed for food and healing. The apple, nut, and kernel are among the economically valuable portions of the cashew fruit.
Cashew nuts’ main product is the kernel, which is the edible part of the nut. Chocolates, ice creams, pastries, candies, and even medical goods are made with kernels.
N23.83 billion in coconuts
Coconut is a cash crop farmed in 22 of Nigeria’s 36 states, with production concentrated in the country’s southwest, with Lagos State having the greatest production area. In 2021, Nigeria exported coconut valued N23.83 billion. During this time, desiccated, fresh, or dried coconuts, whether shelled or peeled, were exported.
Coconut is used as a raw material in a variety of industries, including pharmaceuticals, cosmetics, food, and beverages, and has limitless domestic and export potential; however, coconut consumption has continued to rise with the country’s growing population, particularly dry coconut, which is consumed in the north.
Bubbling under
N17.3 billion gushing under frozen seafood
N12.1 billion ginger
N5.4 billion in flowers
N5.2 billion in Brazil nuts
N4.9 billion in sesame oil and its portion
N4.7 billion in natural cocoa butter
N3.8 billion in palm nuts and kernels
