Nigeria’s Agricultural Export Records 18.5% Increase in 2022

Nigeria’s total agricultural export in 2022 was N598.2bn, accounting for 18.5 per cent increase when compared to the figure recorded in 2021.

However, there has been concern among economic and financial experts over Nigeria’s paltry agricultural exports revenue despite the country’s huge and fertile land mass with good weather conditions.

The Netherlands’ economy earned an estimated N4.9trn (€49.6bn) from agricultural exports in 2022 alone.

In 2020, Nigeria’s agro exports valued N321.54bn, while in 2019, the export value was N269.83.bn.

Similarly, the sector accounted for 7.29 per cent of total imports, amounting to N1,865.53bn, a 5.43 per cent decline from N1,966.89bn in 2021.

The sector accounted for 4.7 per cent of the country’s total exports for the period.

Cocoa beans, sesame seeds and cashew nuts topped the list of the exported agricultural commodities, earning Nigeria N442.95bn for the period.

The Netherlands, which is about 22 times smaller than Nigeria in size, has a much bigger agricultural exports earnings than Nigeria.

The Netherlands is approximately 41,543 sq km, while Nigeria is approximately 923,768 sq km, making Nigeria 2,124 per cent larger than The Netherlands.

Similarly, six of Nigeria agrarian states are bigger than The Netherlands, individually. The six states, all located in the Northern part of the country, are Niger (76,383km²), Borno (70,898km²), Taraba (54,473km²), Kaduna (46,053km²), Bauchi (45,837km²) and Yobe (45,502km²).