Nigeria’s Agricultural Exports Value Stands At N55.8bn

Nigeria’s Agricultural Exports Value Stands At N55.8bn

The Nigeria Bureau of Statistics (NBS) has revealed that the total value of exported agricultural goods in Nigeria stood at 55.8 billion, representing 1.75 percent of the total exports of the 2020 fourth quarter.

In the report, it was disclosed that within the period under review, the total value of agricultural goods stood at N588.2 billion.

READ ALSO: Why Cashew Nut Business is important now

This was disclosed in a report released by the bureau on Friday.

Nigeria’s exportation of agricultural products in the fourth quarter of 2020 fell by almost N5 billion from the N60.6 billion recorded in the third quarter of 2020.

The report read in part, the value of total trade in agricultural goods in Q4, 2020 stood at N588.2 billion representing 6.45% of total trade in Q4, 2020.

“Export of agricultural goods was valued at N55.8 billion or 1.75% of total exports in Q4 2020. Compared to N60.6 billion recorded in Q3 2020, the value of agricultural exports fell by 8% and by 18.2% when compared to the corresponding quarter in 2019.

“During the quarter, most agricultural products were exported to Asia (valued at N43.4 billion) and Europe (valued at N9.4 billion).”

China remains Nigeria’s top export destination, as more agricultural goods were exported there, with sesame seeds leading the chart of exported products.

Get in Touch

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related Articles

Get in Touch

4,640FansLike
123FollowersFollow

Latest Posts

Agribusiness Fund to Enroll 200 Youths from Nigeria, See Details

Agribusiness Fund to Enroll 200 Youths from Nigeria, See Details   The Green Agribusiness Fund (GAF) intends to enroll 200 young agric entrepreneurs from Nigeria, Rwanda...

How a Farmer was Killed In Oyo by Suspected Fulani Herders

How a Farmer was Killed In Oyo by Suspected Fulani Herders   Mr. Babarinde Mufutau, a 56-year-old farmer and native of Tapa in the Ibarapa North...

Why Botswana Banned Poultry Products from South Africa

Why Botswana Banned Poultry Products from South Africa   The avian influenza disease, bird flu has continue to take its toll on farmers across the world....

5 Smart Ways To Deal With Difficult Farm Owners

5 Smart Ways To Deal With Difficult Farm Owners 1. RESPECT THEM No matter what, never be rude to your boss. Do all you can to...

The Effect of Insecurity on Agric Export and Import

The Effect of Insecurity on Agric Export and Import  A Report Insecurity that has been traumatizing the agricultural sector of the country has not only been...