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Trends

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Nigeria’s agricultural export rose to N152.3 billion in the first six months of 2019 (January – June). This is reflected in the foreign trade reports released by the National Bureau Statistics (NBS) covering the first and second quarter of 2019. According to the reports, Nigeria’s major agricultural exports so far in 2019 include Sesamum seeds (whether or not broken), Cashew nuts, fermented Cocoa Beans, Superior quality raw cocoa beans, Other Frozen shrimps and prawns, Ginger…

Overview Despite the steady growth in the value of Nigeria’s agriculture exports over the last three years (2016 to 2018), the country’s agriculture exports to total exports remained below 2%. Consequently, oil revenue continue to account for more than 80% of total value of annual exports. However, the agriculture industry contributed approximately 25% to total GDP in 2018 while the oil sector’s share of total economic output was 8.6% over the same period.Since the agriculture…