NIGERIA’S TOP 10 AGRICULTURAL EXPORTS IN 2023

Nigeria’s agricultural sector has experienced a substantial increase in the export values of its top commodities.

Foreign trade reports from the National Bureau of Statistics (NBS) indicate that Nigeria exported agricultural goods worth N1.23 trillion in 2023.

This figure represents an increase of 53% from the N583.3 billion recorded in 2022. The surge is likely due to the significant naira devaluation in 2023, which increased the value of the total exports in naira terms.

Here are the top exported agricultural products in 2023:

#10 Soya Bean Seeds

Soya bean seed exports saw impressive growth, climbing to N28.06 billion in 2023, up from N6.84 billion in 2022. This increase highlights the burgeoning demand for Nigerian soya in international markets.

#9 Natural Cocoa Butter

Exports of natural cocoa butter reached N35.32 billion, more than doubling the N15.57 billion recorded the previous year. This growth signals a rising global appetite for Nigerian cocoa derivatives.

#8 Flours and Meals of Soya Beans

Flours and meals of soya beans experienced a meteoric rise in export value, soaring to N63.20 billion from a mere N203.30 million in 2022. This exponential growth underscores Nigeria’s expanding role in supplying soya-based products.

#7 Shelled Cashew Nuts

Shelled cashew nuts have also significantly increased, with exports amounting to N84.24 billion, a sizable increase from N21.02 billion in 2022. This reflects Nigeria’s competitive edge in cultivating and exporting cashew nuts.

#6 Other Cut Flowers

The niche market of other cut flowers & flower buds for ornamental purposes also blossomed, with exports valued at N86.63 billion, up from N15.05 billion, indicating a growing diversification in Nigeria’s agricultural export base.

#5 Standard Quality Cocoa Beans

The standard quality cocoa beans held strong in fifth place, with exports worth N97.71 billion, a leap from N32.59 billion in 2022. This reinforces cocoa’s critical role in Nigeria’s agricultural export portfolio.

#4 In Shell Cashew Nuts

Cashew nuts in shell reached N109.93 billion, an increase from N66.36 billion the previous year. Nigeria continues to be a major source of cashew nuts, with both shelled and in-shell varieties seeing high demand.

#3 Soya Beans (Excluding Seeds)

Ranking third, soya beans (excluding seeds) marked a value of N120.10 billion in exports, a steep rise from N9.05 billion in 2022. The vast increase underlines the expanding soya industry in Nigeria.

#2 Sesamum Seeds

Sesamum seeds ranked second, with an export value of N253.69 billion, up from N139.84 billion in the previous year. This indicates a robust market for Nigerian sesamum seeds.

#1 Superior Quality Cocoa Beans

Topping the chart, superior quality cocoa beans reached an export pinnacle at N258.45 billion, a sizable increase from N200.07 billion in 2022. This showcases Nigeria’s dominance in producing high-grade cocoa, which is highly sought after in the international market.