Shippers Count Losses, NPA Resumes Export Receipts       Shippers in the country have said they lost N780bn in 2020 because they could not access shipments in ports. They said the inability to access the ports affected both in imports and export cargoes. President of Shippers Association Lagos...

Nigeria Raked In $150m From Coconut Oil In 2020       The Minister of Agriculture and Rural Development, Sabo Nanono, on Wednesday in Benin disclosed that Nigeria generated $150m from the export of coconut oil and its derivatives in 2020. Speaking through his representative, Bernard Ukattah, a deputy...

‘Nigeria Can Export $3bn Worth Of Cocoa Derivatives Under AfCFTA’       The federal government has disclosed that by taking advantage of the African Continental Free Trade Area (AfCFTA), Nigeria has the capacity to export $3 billion worth of derivatives from cocoa and $300 million from the...

Farmers Exported N60.5bn Goods In Three Months – NBS         Nigerian farmers exported goods worth N60.5bn in the third quarter of 2020. During the quarter, total trade in agricultural goods stood at N563.9bn, according to figures obtained from the National Bureau of Statistics on foreign trade. Analysis by...

Export Proceeds, Remittances Diverted To Parallel Markets Weakening Naira         The continued diversion of export proceeds by exporters and diaspora remittances inflows to the parallel market are responsible for the ongoing depreciation of the naira against the dollar, global forex dealers have said. Trading Desk Manager, AZA,...

Fed Govt Earns $5m Annually From Shea Butter Exports       Nigeria currently earns over $5 million yearly from shea butter exports. The country, however, is targeting about $100 million annual earnings from the commodity. The Federal Capital Territory (FCT) Minister of State, Dr. Ramatu Aliyu, disclosed this...