Nigeria’s Top 10 Agricultural Exports in 2023: A Breakdown.

In 2023, Nigeria witnessed a remarkable surge in its agricultural Exports, with a staggering worth of N1.23 trillion, as reported by the National Bureau of Statistics (NBS). This marked a significant 53% increase from the previous year’s N583.3 billion. The surge can be attributed largely to the considerable devaluation of the naira in 2023, which boosted the value of exports in local currency terms.

The agricultural sector of Nigeria has seen substantial growth in the export values of its top commodities. Below, we delve into the top 10 Agricultural Exports of the country in 2023:

10. Soya Bean Seeds Experiencing remarkable growth, exports of soya bean seeds surged to N28.06 billion in 2023 from N6.84 billion in 2022, indicating a rising demand for Nigerian soya in international markets.

9. Natural Cocoa Butter The export of natural cocoa butter doubled, reaching N35.32 billion, showcasing an increasing global preference for Nigerian cocoa derivatives.

8. Flours and Meals of Soya Beans Experiencing meteoric growth, exports of flours and meals of soya beans soared to N63.20 billion from a mere N203.30 million in 2022, highlighting Nigeria’s expanding role in supplying soya-based products.

7. Shelled Cashew Nuts Exports of shelled Cashew Nuts significantly increased to N84.24 billion, a substantial rise from N21.02 billion in 2022, underlining Nigeria’s competitive edge in cultivating and exporting cashew nuts.

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6. Other Cut Flowers The export of other cut flowers & flower buds for ornamental purposes witnessed a surge, reaching N86.63 billion from N15.05 billion, indicating a growing diversification in Nigeria’s agricultural export base.

5. Standard Quality Cocoa Beans Standard quality cocoa beans held their ground, with exports worth N97.71 billion, a leap from N32.59 billion in 2022, reaffirming cocoa’s pivotal role in Nigeria’s agricultural export portfolio.

4. In Shell Cashew Nuts In shell cashew nuts reached N109.93 billion in exports, up from N66.36 billion the previous year, depicting Nigeria as a major source of cashew nuts, with high demand for both shelled and in-shell varieties.

3. Soya Beans (Excluding Seeds) Ranking third, soya beans (excluding seeds) marked a value of N120.10 billion in exports, a sharp rise from N9.05 billion in 2022, signifying the expanding soya industry in Nigeria.

2. Sesamum Seeds Sesamum seeds secured the second spot, with an export value of N253.69 billion, up from N139.84 billion in the previous year, indicating 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 significant increase from N200.07 billion in 2022, showcasing Nigeria’s dominance in producing high-grade cocoa, highly sought after in the international market.

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