Nigeria’s Top 10 Agricultural Exports in 9 Months (Jan-Sept 2023)

Nigeria’s Top 10 Agricultural Exports in 9 Months (Jan-Sept 2023)

Total export value: N798.50 billion

1. Superior Quality Cocoa Beans: N157.77 billion

Superior Quality Cocoa Beans (Nigeria)
Q1: N42.23 billion
Q2: N30.79 billion
Q3: N84.75 billion (increased due to supply shortages in Cameroon and Ivory Coast)

2. Sesamum seeds: N129.20 billion

Sesamum seeds (Nigeria)
Q1: N67.66 billion
Q2: N38.32 billion
Q3: N23.22 billion

3. Cashew nuts in the shell: N100.75 billion

Cashew nuts in shell (Nigeria)
Q1: N27.18 billion
Q2: N55.02 billion
Q3: N18.55 billion

4. Shelled cashew nuts: N74.13 billion
Shelled cashew nuts (Nigeria)
Q1: N6.84 billion
Q2: N57.79 billion (astronomical increase)
Q3: N9.50 billion

5. Other cut flowers & flower buds (ornamental): N69.20 billion
Q1: N13.00 billion
Q2: N19.88 billion
Q3: N36.32 billion (significant increase)

6. Flours and meals of soya beans (Nigeria)
Q1: N14.53 billion
Q2: N23.60 billion
Q3: N16.07 billion

7. Soya beans (excluding seeds): N51.87 billion

Soya beans (Nigeria)
Q1: N24.10 billion
Q2: N5.66 billion
Q3: N22.11 billion

8. Standard Quality Cocoa beans: N33.99 billion
Standard Quality Cocoa beans (Nigeria)
Q1: N17.95 billion
Q2: N7.13 billion
Q3: N8.91 billion

9. Natural cocoa butter: N20.81 billion
Natural cocoa butter (Nigeria)
Q1: N4.88 billion
Q2: N7.13 billion
Q3: N8.80 billion

10. Other Frozen shrimps and prawns: N18.65 billion

Other Frozen shrimps and prawns (Nigeria)
Q1: N5.12 billion
Q2: N5.66 billion
Q3: N7.87 billion

Analysis of Nigeria’s Top 10 Agricultural Exports:

Nigeria’s top agricultural exports are varied and reflect the country’s diverse agricultural sector. Cocoa beans, sesamum seeds, cashew nuts, and other cut flowers are all important export crops. The increase in the export of ornamental flowers in Q3 is notable.

The astronomical increase in the export of shelled cashew nuts in Q2 is also worth noting. This may be due to several factors, including increased production, higher prices, or a shift in demand.

The decrease in the export of standard-quality cocoa beans in Q2 and Q3 is also notable. This may be due to some factors, including lower production, lower prices, or competition from other countries.

Overall, the data shows that Nigeria’s agricultural exports are growing and diversifying. This is a positive development for the country’s economy and food security.

Additionally, the data does not include exports of crude oil and natural gas. The data is for the first three quarters of the year only. The data is subject to revision.

Sources: National Bureau of Statistics (NBS) Foreign Trade Report