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The agricultural export sector of Nigeria has witnessed remarkable growth, primarily fueled by the exports of cocoa beans, cashew nuts, and sesame seeds, according to different data sources explored by The Nation.

Over the past seven years, from 2018 to 2024, these three crops have played a pivotal role in enhancing the nation’s agricultural exports.

According to PWC, between 2016 and 2018, the country’s total agriculture exports was driven by export of sesame seeds, fermented cocoa beans, cashew nuts,  among other commodities. Cumulatively, the country earned N0.53 trillion from agriculture exports between 2016 and 2018.

In the first half of 2018, Nigeria’s agricultural product exports reached a value of N343.4 billion.

 Cocoa beans, sesame seeds, and cashew nuts were the leading agricultural commodities exported, collectively generating N262.99 billion for the country.

In 2020, the sector’s agro exports value grew year-on-year by 19.16 per cent to N321.54 billion. In 2019, export value declined 10.89 per cent, accounting for N269.83 billion. Nigeria’s agricultural exports climbed by 57.02 per cent to N504.9 billion in 2021, up from N321.5 billion the year before, the highest agro-export income ever. Cocoa, sesame seed, cashew nut dominates Nigeria’s agric export.This is according to the National Bureau of Statistics (NBS) foreign trade report for 2021.

In 2022, Nigeria’s agricultural exports achieved a five-year peak, amounting to N598.2 billion. This figure marks an 18.5 percent rise compared to the previous year, 2021.

The primary agricultural exports included cocoa beans, sesame seeds, and cashew nuts, which collectively generated N442.95 billion. Notably, cocoa beans constituted 38.89 percent of the total agricultural exports, while sesame seeds accounted for 23.34 percent.

Cashew nuts in shell surpassed sesame seeds and cocoa beans to become the most traded agricultural product in the second quarter (Q2), growing by 10.67 percent year-on-year (y/y) in 2022.

The product traded for N41.27 billion in the second quarter of 2022, as against N37.29 billion reported in the second quarter of 2021. According to data from the National Bureau of Statistics (NBS), cashew nuts in shell made up 29.11 percent of all agricultural products exported during the quarter and ranked the fourth-highest of Nigeria’s exports with a 0.56 percent share of total exports for the second quarter of 2022.China emerged as the leading importer of sesame seeds from Nigeria, whereas the Netherlands, Belgium, and Germany were significant importers of Nigerian cocoa beans.

In the first half of 2023, non-oil exports amounted to 2.539 billion dollars, slightly below the previous year’s record by 0.09 per cent . During this period, cocoa beans, cashew nuts, and sesame seeds were among the top 15 exported products.

The agricultural exports in the first quarter of 2024 were primarily driven by cocoa beans and sesame seeds.

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According to NBS report for first quarter 2024, agricultural exports were valued at N1.035 billion out of a total trade value of N1.95 billion for agricultural goods. Asia emerged as the leading destination for these exports, accounting for N572 billion, followed by Europe at N366 billion.

 The export market was dominated by sesame seeds, N47.75 billion; superior quality cocoa beans, N231 billion; and standard quality cocoa beans ,  N140 billion.

  Notably, sesame seeds were predominantly exported to China and Japan, while cocoa beans were primarily sent to the Netherlands and Malaysia.

In 2024, the Nigerian Export Promotion Council said the country recorded a 20.79 percent increase in the value of non-oil exports, totaling $5.456 billion. The amount, which represents an increase of $938.442 million, exceeded the $4.517 billion recorded by the government in 2023.

Speaking at the presentation of the 2024 Non-Oil Export Performance Report, Nonye Ayeni, Chief Executive, NEPC, highlighted that cocoa beans and urea fertiliser emerged as the top contributors to the sector’s revenue.

Similarly, Nigeria’s sesame seed exports reached N247.75 billion in the first quarter of last year, marking a 99 per cent increase from the fourth quarter of 2023. The total value for 2023 was N253.7 billion, just two above the Q1 2024 figure, highlighting significant growth in demand. Sesame seed exports contributed 1.3 percent to Nigeria’s total exports.

There was heightened demand for sesame seeds and cocoa (standard and superior quality) in major markets across Asia, China, Europe, and Japan.  A 5.93 per cent decrease in agricultural exports was recorded in Q2 2024 compared to Q1 2024.

This year, NEPC aims for a 30 per cent growth target for non-oil exports. The Executive Director, NEPC, Nonye Ayeni, noted that the Council through collaborations with other relevant agencies and institutions is working to increased economic diversification with an impressive non-oil performance. She added that expansion in agricultural exports, including items such as cocoa seeds, cocoa butter, sesame seeds, and cashew nuts, as well as a rise in the export of urea and manufactured goods will facilitate the growth. “This achievement can be attributed to the active diversification of the economy through the non-oil sector with emphasis on promoting agriculture, solid minerals and manufacturing. As part of ongoing efforts to bolster Nigeria’s non-oil export capacity, Nonye noted that the NEPC would continue to work with exporters and government agencies to tackle challenges such as poor infrastructure and trade facilitation, while also strengthening trade relations with global partners. Speaking with The Nation, the  Chairman, Board of Trustees, Cocoa Association of Nigeria (CAN), Dr Victor Iyama said there was a need for more incentives to   enhance the performance of the agricultural sector, not only to meet domestic needs but also boost exports.

His words: “ Exports demand on market access. Indeed, cocoa and coffee are the most traded agri commodities in the global marketplace. In our country, cocoa, cashew and sesame seeds are our prominent offerings in the export market. There are the traditional crops that we have been exporting for decades. They have their place.  However, there are other crops that are being exported  such as ginger, hibiscus  flow ,gum Arabic and all .” According to him, despite the potential for growth, logistical challenges and access to international markets remain key issues in the agricultural sector.

He called for financial and subsidy systems to support agricultural enterprises and enhance the production and leasing of domestic agricultural machinery.

Early this year, President Bola Tinubu said that he wants to position Nigeria as a leading agricultural export nation by 2025.Tinubu spoke on his vision for his administration in his remarks at, “the Road to South-South National Convergence for Renewed Hope Agenda,” organised by the Office of the Senior Special Assistant to the President on Community Engagement (South-South) at the Conference Centre of the State House, Abuja. The president, who was represented by the Minister of Regional Development, Abubakar Momoh, stressed that Project “Earn from the Soil” was a food security initiative capable of transforming subsistence farming into robust, export-driven economic opportunities, thereby revolutionising the country’s agricultural landscape and ensuring National Food Security.

“In this wise, the vision of my administration is clear: By 2025, we will position Nigeria as a leading agricultural export nation. “To this end, my administration will give necessary support to the implementation of the laudable ‘Project Earn from the Soil’ to achieve its set objectives.”

He stated that the South-south was blessed with natural resources beyond oil and gas.